Way back when – when my business was still operating as a brick and mortar, actually – I was sitting with a business coach of mine. I had 12 employees at the time, and payroll was my biggest expense. In truth, it was eating up a lot of my profit margin. As my business grew, I wasn’t able to take home more money, and it was using a lot of worry and stress.
But, let’s get back to what my business coach and friend said to me that day. They told me something that was shocking, and that was they were paying their full-time, virtual assistant (VA) $800 a month. That really changed everything for me, as I’ll explain further below.
The Issues With My In-Person Team
At the time my friend told me this, I had 12 people working at my business. We all worked in person, and I was hiring mostly young, inexperienced people and training them up. This involved a lot of turnover, personal drama, and a lot of times, these employees were unreliable.
To be honest, this whole thing was very labor-intensive and it was also very costly from a payroll standpoint. My entire profit margin – at one point – was gone, and I felt my back up against the wall. It was overwhelming and scary.
Reaching My Payroll Breaking Point
When you run a business, your employees depend on you to pay them so that they can live, put food on the table, and keep a roof over their heads. In addition to that, your clients depend on you to make them money and deliver the services you promise.
At this point in my business, my payroll was the biggest expense and it was causing me a lot of stress, not to mention the fact that sometimes I wasn’t able to pay myself.
So when I learned from my friend that they had an overseas VA that they paid $800 a month, I was curious. I started to explore what it would be like to hire my own VA overseas.
Before long, I started filling multiple positions in my company with people overseas from the Philippines. To be honest, it was the best decision I ever made for my business.
The Capabilities of an Outsourced Team
I’ve found that people consistently underestimate the capabilities of VAs and other outsourced employees. They’re capable of so much, and by hiring and training them, you can tap into the feeling of an amazing team that has your back.
I’ve learned some very valuable lessons from having a rockstar remote team. First, make sure to make your team members part of your team no matter where they physically are. Do this by inviting them to team meetings and retreats.
Next, invest your time into training and supporting your team and they’ll do excellent work for you. The goal is to empower them to solve complex problems to run your business for you. But to do that, you need to be willing to hand things off to them.
My Current Virtual Team
My virtual team is currently eight women strong and growing. We’re planning our first retreat in the Philippines this fall with the whole team and all of our families. This will be an all-expense paid trip that’s part business, part vacation. I can’t wait!
My team and I are also partnering with local charities in the Philippines to offer micro-loans to women entrepreneurs, which is something I’m really proud of. We’re committed to empowering women to have more freedom of choice and allowing them to provide for their families in a bigger way.
An Incredible Journey with My Virtual Team: The Bottom Line
At the end of the day, what started as a way to save my business in an economic downturn and to prevent my ship from sinking has turned into something so amazing. Investing in a virtual team has led to lifelong friendships and a team that truly has my back.
There’s been so much collaboration because of this decision, and I truthfully wouldn’t want to build this business without my team. Each person contributes to my vision and the company’s success, and they’re one of the greatest assets of my business.
I would love to get connected on Instagram or The 7-Figure Freedom Club Facebook Group so we can chat about your takeaways from this episode. If you’re interested in learning more schedule a call with me today or visit my website!
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