I Spent $100,000 on Virtual Assistants (Here's What I Learned)

I Spent $100,000 on Virtual Assistants (Here's What I Learned)
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I invested $100,000 in virtual assistants to run my online eCom business, and from this experience, I've gotten some valuable insights.
First and foremost, I realized that achieving six figures in profit is attainable with the right business models on suitable platforms. However, if you want to consistently surpass this threshold without working yourself to exhaustion, outsourcing becomes a necessity.
Relying solely on outworking your competitors is a recipe for burnout. Therefore, if your business is generating a decent income, it might be the perfect moment to contemplate bringing someone on board to assist you.
This strategic move will enable you to maintain your productivity while freeing up your time to concentrate on overarching strategies and new opportunities for expansion. This aligns with the concept of "working on your business, not in it," and hiring is a direct solution to achieving that.
Nevertheless, it's essential to utilize the newfound time effectively. Hiring someone with the sole intention of indulging in leisure activities, like watching Netflix all day, may lead to undesirable consequences, where your business begins to decline while you incur unnecessary expenses.
Hiring and training individuals demands a significant investment of both time and money, particularly in the initial stages. However, the returns far outweigh the costs. It's crucial to allocate substantial upfront time to carefully vet potential candidates.
I have personally witnessed how a well-chosen hire can exponentially enhance your business's productivity, while a poor hire can cause significant setbacks and waste valuable time.
The key lesson here is to thoroughly test and interview numerous candidates before making a hiring decision. Rushing into hiring the first person you interview is not advisable. Instead, implement a strict vetting process to ensure that you bring the right person on board to help your business thrive. It’s worth spending more time in to get this right. Trust me!
Additionally, another valuable lesson I've learned is the distinction between being a leader and merely a boss. The role of a boss typically involves barking orders at employees without actively participating in the work, often resulting in a lack of likability and respect. On the contrary, a leader sets an example through action and willingly gets involved in the work alongside their team.
One essential tip I acquired while training my first employee was the importance of establishing systems and then hiring individuals to execute these systems. When you solely hire someone for a specific job, you become reliant on their presence, making your business vulnerable if they decide to quit, get sick, or something with them specifically changes.
But building a system that can be taught to others not only simplifies their understanding but also safeguards your business, as it becomes easier to find someone to implement the same system and replicate the results.
For example, I created a system where a virtual assistant could handle products from suppliers and integrate them into my Amazon catalog. This system covered everything from product research to pricing adjustments and stock monitoring, all without requiring my direct involvement. While they might have been slow to start, they progressively improved and now handle these tasks seamlessly.
It's vital not to base your business on mediocre talent and prioritize paying your employees more than the market average, as well. By doing so, you'll ensure their commitment, increased effort, and loyalty to your business. Offering competitive compensation makes you their top choice, as employees receiving standard pay may easily switch to better opportunities, wasting your time and resources (which will leave you at square one again).

[@SexyUndisputed2All]

I wouldn't even know how 100k would look and feel.like. damn

[@bryanguerra2]

Lol it wasn’t all at once