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178: Productive Virtual Teams Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed



178:  Productive Virtual Teams Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed


Your employees or independent contractor expenses are likely one of your highest expenses in your business and as a smart business owner, you want to make sure you are monitoring these expenses to ensure maximum efficiency.  Over the last few years, your business may have had the need to shift to a more remote or virtual workforce.  Many business owners think this shift to a remote workforce or team causes less productivity and higher expenses, but in fact, many business owners see the exact opposite.  Depending on your situation, you may have seen a savings or some additional expenses you’ve needed to adjust to.  In today’s podcast episode, I am helping you create a cost-effective virtual workforce or team.  I am sharing a few of the most important skills you need as a business owner as well as areas to be aware of to ensure you are maximizing your virtual workspace while keeping your costs down and productivity up.  Whether you already have a virtual workforce or maybe you currently do all the work in your business yourself, but you’ve been wanting to integrate some additional help, you’ll want to make sure you are taking advantage of these tips.  Hiring remote workers, independent contractors and virtual assistants could be the lifeline you need to continue meeting all the demands of your business.  It doesn’t matter if you are just getting started with your business, you are a self-employed individual, a solopreneur, entrepreneur, small business owner, a remote, virtual, online or in-house bookkeeper, or a virtual assistant or VA, you need to keep a close eye on these expenses and ensure you are being as efficient as possible with this business expenses so that you are able to move your business forward, remain successful and maximize your profits.  It doesn’t matter if you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances, or if you are doing your bookkeeping manually with an Excel spreadsheet or even a Google Document, this episode will be helpful for you…


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Show Notes:


Your employees or independent contractor expenses are likely one of your highest expenses in your business and as a smart business owner, you want to make sure you are monitoring these expenses to ensure maximum efficiency.  Over the last few years, your business may have had the need to shift to a more remote or virtual workforce.  Many business owners think this shift to a remote workforce or team causes less productivity and higher expenses, but in fact many business owners see the exact opposite.  Depending on your situation, you may have seen a savings or some additional expenses you’ve needed to adjust to.  In today’s podcast episode, I am helping you create a cost-effective virtual workforce or team.  I am sharing a few of the most important skills you need as a business owner as well as areas to be aware of to ensure you are maximizing your virtual workspace while keeping your costs down and productivity up.  Whether you already have a virtual workforce or maybe you currently do all the work in your business yourself, but you’ve been wanting to integrate some additional help, you’ll want to make sure you are taking advantage of these tips.  Hiring remote workers, independent contractors and virtual assistants could be the lifeline you need to continue meeting all the demands of your business.  It doesn’t matter if you are just getting started with your business, you are a self-employed individual, a solopreneur, entrepreneur, small business owner, a remote, virtual, online or in-house bookkeeper, or a virtual assistant or VA, you need to keep a close eye on these expenses and ensure you are being as efficient as possible with this business expenses so that you are able to move your business forward, remain successful and maximize your profits.  It doesn’t matter if you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances, or if you are doing your bookkeeping manually with an Excel spreadsheet or even a Google Document, this episode will be helpful for you…     

 

Welcome Back… When you look over your income statement, do you draw your attention to the largest expenses first?  When you do this, you are probably seeing wages, subcontractors, or independent contractors as one of these large expenses especially if you have made the move as a business owner from doing all the work in your business by yourself to having additional help.  Making sure that you are managing your largest expenses efficiently is important when you are trying to increase your profit.  Over the last few years, there has been a shift to a more remote or virtual workforce.  Many business owners felt like they lost control of their workforce, but others found that this remote workforce produced a higher performance rate and some even found some of their higher expenses were reduced.  If you are wondering what you could be doing to take advantage of these positive results, I want you to make sure you are following the tips I am going to cover today.

 

Whenever you have a virtual workforce, whether it is made up of your employees, a virtual assistant, an independent contractor, or a subcontractor, you want to make sure you set your expectations in your relationship early.  Having a mutual understanding about responsibilities, how often should work be performed, during which hours of the day work should be done, and your desired outcomes, deadlines, or when work should be completed will be essential for everyone to know.  Making sure that you have a flexible work arrangement will be beneficial when you know that you will not be able to control the environment remotely.  Try to focus on your workforce’s abilities and when they are the most productive.  In most cases, it won’t matter if the work gets done early in the morning or late in the evening, as long as the work is done in time to meet any deadlines and is done accurately.  Remember, you are focused on the outcome.  Set clear expectations for the team and ask for feedback so that you know your team is able to meet these expectations.

 

Communication is key so you will want to connect regularly with your virtual workforce or team.  Make sure everyone is aware of any changes in deadlines or updates on projects.  There are many ways you can stay in touch with your remote workforce or team so that you know exactly how work is getting done.  This doesn’t mean that you should micromanage your workforce, but rather have a procedure in place so that you know how projects are moving along.  You can accomplish this with meetings, project management software, or even daily updates if you’d like, but make sure you provide the training and resources your team needs to follow through on these expectations.  There are many different technology options available, but you want to take note of how much time it is taking to connect or stay up to date.  Take time to set protocols for regular updates and what to do if there is something that needs to be communicated urgently.  You want to make this process as efficient as possible while keeping everyone informed of progress.  You will also want to make sure you are listening to the advice from your team as well.  Let them know that you are open to receiving information from them and you genuinely want to hear from them.  They may be able to offer insight or concerns for a project that you would never have thought about.  This information can be valuable.  If your workforce or team doesn’t seem to offer this information on their own, you can always ask them for their opinion to see if there is a more efficient way for you to help them.

 

Collaboration and connection are equally important when you have a virtual workforce.  Having a way for people to connect will help bring about innovative ideas as well as foster a team environment.  When people are working remotely, they can easily feel isolated from the rest of the team.  Allowing virtual coffee chats or a virtual water cooler where team members can get together and connect in a less formal environment will help build camaraderie which in turn increases productivity.  You could even host a virtual happy hour for your team to help them all get to know each other.  This is a terrific way to host a get-together especially if your workforce is in various locations and it is not feasible to get together locally.  These virtual events are a perfect time for you to announce any successes or milestones that the team has achieved.  It is important to celebrate the wins in your business, even if they are small.  Make sure you as the business owner show up for these events as well and maintain a positive outcome when creating these connections.  If you feel like your team can’t take on an additional meeting, try to schedule a few minutes in an already scheduled meeting to allow for these connections.  They are important and should not be overlooked.

 

Next, let’s look at how having a virtual workforce or team can save you money or how you can be more efficient with your costs.  We’ll start off with time.  Time is something that we all cherish, whether you are the business owner or part of the team.  Working as a virtual team is beneficial for both.  Team members can gain additional time they would normally be commuting and put that extra time towards something they would much rather have in their life, and business owners have the ability to have additional talent in their business without having the stress and complications of having to hire an employee onsite.  You may also notice that productivity goes up since there are fewer interruptions than were taking place in an office.  Time normally equals money.  By utilizing a remote workforce or team in your business you are able to streamline many of the procedures and expenses you would normally have and only pay for the ones you have direct needs for.  The overhead in your business can also be significantly reduced since you may no longer need to have an office space for a larger team, which means less rent, utility expenses, cleaning, and office expenses.  Even retention rates of your team members may be improved which also saves you time and money by searching for another replacement.  Team members who are working from home or remotely tend to enjoy and value their work-life balance much more which gives you a happier and higher retention rate.  Take some time to look over your income statement and focus on your expenses.  Be creative when you are looking at the expenses you currently have for your business and look for ways that you can reduce or even eliminate specific expenses when you have a virtual workforce.

 

Having a remote workforce or team can be a cost-effective way to manage some of your highest expenses while keeping productivity rates high.  If you are a service-based business owner who wants to increase the profit in your business, please let me know.  I have helped many business owners over the past twenty years, and I am here to help you with Mastering Your Small Business Finances as well.  Your business finances are impacted by much more than just your bookkeeping and financial knowledge.  Let’s chat.  If you are interested in scheduling a free consultation session with me, you can go to www.FinancialAdventure.com/Contact-Us and select a time that works well with your schedule.  I only offer a few of these one-hour consultation sessions each week.  During your consultation session, we’ll work together to go over where you currently are in your business and where you’d like to see yourself and your business in the future.  We’ll also go over my MASTER Your Business Foundation Diagnostic Assessment so that you can fully understand your strengths in the foundation your business is built on.

 

Imagine having a system in place where you spend less time buried in paperwork and more time doing what you love.  That’s where I help my clients.  They are able to have proper processes in place, understand why they are following through with these processes, and they have more peace of mind when it comes to their business.  Striking a balance between the demands of running a business and maintaining a fulfilling personal life is an art; it’s about creating an environment where you can thrive and support your lifestyle.  By being proactive and setting up efficient processes, you can ensure a smoother, more enjoyable year-end, and you’ll be prepared to file any necessary filings with the IRS.  By working with me, you’ll change more than just your bookkeeping processes.  Like many of the clients I’ve worked with, you’ll go from not knowing how to get through all the stressful situations or being unprepared to being totally in control of exactly what you are choosing to get done at the time you want to have it accomplished by, all while knowing you are doing enough and you’re able to enjoy your business and your personal life.  I help clients just like you with strategy, mentorship, and coaching.  When you work with me, you’ll show up much more differently than you do today, and, after all, this is what you ultimately want in your life, right?  You can be stress-free in both your professional and personal life.  Come join me.  When I work with clients throughout the year, they are able to reduce their stress and overwhelm, understand how to master their small business finances, develop solutions to grow their bottom line, and create a work-life balance they truly enjoy.  I encourage you to take the next step by signing up for a free consultation where I’m going to teach you the first step in my process so that you can eliminate stress, overwhelm, or overworking in your professional or personal life while you continue to get done what matters so that you can live your life with joy, purpose and a more fulfilled life.  Feel free to reach out to me with any questions you have; I’d love to help you on this journey.  You can schedule your free consultation or sign up for a coaching session today at www.FinancialAdventure.com.  As a Certified Public Accountant and Certified Life Coach, I can help you set goals and develop a plan that will allow you to lead a happier and more sustainable life in your business, career, or your personal life.  I’m here to guide you through the financial aspects of your business as well as help you focus on the strategies you need to follow to reach the success you want to achieve in your professional or personal life and stay committed so that you can continue to keep pushing forward and relieve the stress, anxiety, or overwhelm you are currently feeling.  Having an accountant and certified life coach like me can provide you with valuable insights and ideas to help you simplify your life, which enables you to go back to enjoying your professional and personal life.  I work with business owners, accountants, and other financial professionals to create the actionable steps they need to take to ultimately achieve their goals while getting relief from the stress and overwhelm they feel from the pressure of owning a business, deadlines, and the workload they face every day.  If you are struggling with this as well and would like some help developing a solution, help strengthen and maintain your emotional health, increase your well-being, create a more positive, happy, and joyful life, set and achieve your goals, and manage your relationships, I’d love for you to join me in my Balance Life Coaching program so that you can live a more purposeful life.  Each week, we meet privately one-on-one, and you get to bring whatever is on your mind on any given week.  I also have a daily coaching program where you can talk to me whenever it works best for you, 24/7, any day of the week.  In either program, you get to work on your highest priority, whatever you want more of in your life, or if there is something that is weighing on you heavily that you need coaching on, and we’ll work through it together.  Having a certified life coach like me helping you through all of this allows you to feel so seen and cared for, and the results are amazing.  Everyone benefits when they work with a certified life coach.  After every session, you feel energized, and you know exactly what to do for the day or week to come, and relief knowing we will meet again to go over anything that comes up after your session.  You’ll gain self-awareness while you take each step toward your goals.  The investment in either of these programs is an easy yes for you.  I’ve set these programs up in the most supportive way.  If you are ready to join the Balance Life Coaching program, you can go to www.FinancialAdventure.com and click on the work with me button.  You’ll see the link to join as well as additional information about the programs.  Sign up now.  There are limited spots available for these programs due to the one-on-one aspect, and they do sell out.  If the payment link is gone, you can get on my waitlist to join the programs when additional spots are available.  I help people get results and live a more joyful life.  I coach everybody on everything.  I know there is something you want in your life, and I can help you get it.  I know this is something you’ve been waiting for.  I’ve been asked by many of my listeners to create these exact programs.  The faster you get access to the program, the quicker you’ll see the possibilities available to you.  I also have a risk-free guarantee.  I believe so strongly that everyone benefits from coaching that when you sign up for the Balance Life Coaching program today, if for any reason you are not satisfied with your first session, you can send us an email, and we’ll refund you immediately.  Are you ready to enjoy your life now?  Why would you want to wait?  Make this investment for yourself.  Take the journey with me…make it happen for yourself.  Ask yourself why you need this program in your life right now.  Are you ready to make bigger, bolder, stronger life goals?  I’m looking forward to meeting with you soon and digging deeper to see where you currently are in your business or career and start creating actionable steps so that you can reach your vision and goals for the future, not only in your business or career but also in your personal life.  I’m ready to work with you, see all of your successes, and watch you thrive in your business or career while creating your best work-life balance.  I’ll post links to this and other valuable resources for business owners and accountants where you are listening to this podcast.          

 

And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you need some accountability, join our PRIVATE Facebook community and post your action item, we’d love to support you.

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