An Economic Renaissance

As I perused my morning newspaper, a small headline caught my attention.

“The Bottom Line: Optimistic Entrepreneurs”

Finally…some good news!

It was just a short brief, but it summarized a survey by American Express of small business owners that showed America’s small business owners are “optimistic in the face of the economy’s downturn, with the majority planning to expand their operations despite cash flow concerns and soaring energy costs.”

The brief went on to quote an American Express small-business advisor, who echoed the 627 owners and managers who were surveyed. “This is a good opportunity for them to hire people leaving other jobs, talent that was not available to them a year or two ago…”

Almost as good as the first cup of coffee in the morning, the story injected a little energy into my own determination to be a successful small business owner. However, not only did it solidify my resolve to follow the “goals for growth” outlined in my own business plan, but it reassured me that it’s the perfect time to be in the virtual assistance industry.

The entrepreneurs and executives in the survey want to grow their businesses, but I think it’s safe to assume they’re also not unaware of the current economic climate. I have no doubt that most of them are starting to think outside the box in order to stay on track to grow.

That, my friends, is where us VAs are ready to roll.

I’m sure most of you have seen the stats and the benefits.

  • VAs can often get something done in three hours what can take an on-site employee six hours to complete.
  • While a VA’s hourly rate may seem higher than a permanent staffer, we all know it’s actually a cost savings because an employee can cost up to 2½ times their actual salary.
  • Hiring permanent employees can potentially be risky, costly and time-consuming. So, having a few virtual staffers can easily be an interim or permanent solution for just about any business.
  • VAs have a unique understanding of their entrepreneur clients.  VAs are also business owners, so they understand productivity, the importance of their own professional development and, similar to what their clients probably do for their own customers, not hesitating to go above-and-beyond the call of duty.

It’s prime time for us virtual professionals. We’re pretty good at thinking outside the box – it’s a necessary skill in order to efficiently and cost-effectively tackle the plethora of projects that come across our desks. So, I think we’re naturally drawn to our entrepreneur clients, who are also adept at energetically finding ways around conventional economic wisdom in order to succeed. 

It’s time to start an Economic Renaissance. As we hob-nob with current and potential VA clients, remember … we’re all in this together, and outside the box can often be the best place to be.

1 Comment »

  1. Melodee Patterson said,

    May 12, 2008 @ 6:56 pm

    So true, Rachel! I think the Virtual Assistance industry will come into its own now that the economy is getting tighter and small companies can’t afford to hire new employees. VAs can be an economical alternative while providing their clients with innovative “outside the box” thinking. Great post!

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