It’s the time of year for New Year’s Resolutions. Don’t make promises this year that you don’t intend to keep. Make a promise to yourself and your business that you will do things a bit differently this year. That you will do whatever necessary to succeed in your field. Make some changes in your business structure. Maybe add a new product or lower your overhead costs.
Years ago when the economy wasn’t in such despair, businesses and entrepreneurs could spend their resources on frivolous things. But the way it is now, money is better spent elsewhere. Think about how much is spent using in-house employees.
How many employees are you currently paying to do the job that one VA could do?
This is an example of how much you could save using a Virtual Assistant (These are sample rates, Virtual Assistant’s have different rates/services):
|
In House Employee |
Virtual Assistant |
| Salary: $20/hr – $40,000 | Salary: $30/hr |
| Medical Benefits*: $6,000/year | No Benefits Required |
| Employee Taxes*: $4,000/year | Taxes generally included in rate |
| Paid Vacation: $3,500/year | You only pay for the time worked |
| Internet/Software/Computer/Equipment Upgrades & Maintenance: $15,000/year minimum | All Upgrades and Maintenance are the reponsibility of the VA |
After reviewing the table above you will see that hiring a VA, even at $30/hour, will save you a ton of money as opposed to hiring in-house employees. One in-house employee will run you about $68,500/year where a VA will save you $11,000 by charging $57,600 for a 40 hour work week. Now you do the math… if you have 5 employees @ $68,500/year that’s $342,500. With a VA you save $11,000 per employee and you’re only dealing with one person.
THAT’S $284,900 IN YOUR POCKET!
Being that dedicated VA’s complete projects in less time than in-house employees, your project will be finished in less time saving you even more. VA’s run a business and if we don’t produce as expected we will lose business. We want to keep our clients happy so they will return to us when necessary.
Saving you money and keeping you happy, it’s a win, win situation!
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32 comments
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Tina Thelen says:
May 30, 2011 at 1:48 am (UTC -4)
Good info Cathy! The table really shows the benefits that VA’s can bring to small business owners verses hiring a full or part time in house employee!
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