Growing Your Business With A Virtual Team
There has been a huge increase in the use of remote workers in organisations on both a contract and freelance basis. An article in Fast Company reports, “More than half (59%) of hiring managers today are using freelance and contract workers, up 24% from 2017, and predict that number will increase by 168% in the next decade.”
Working with a virtual team is particularly rewarding for creative entrepreneurs who are looking for extra assistance, especially when they are just starting out in business and lack the necessary experience to move the business forward. If you’re a solo entrepreneur, or even a small business owner, this is a trend you need to be aware of because outsourcing freelancers offers several benefits to help your organisation grow and become more profitable.
While you’re still able to benefit from the productivity of your virtual team, you don’t have to pay a full-time salary when you hire virtual contractors. Most virtual workers are paid by the hour or the task. You’re not paying for any downtime nor will you have to cover the costs of leave, superannuation or workers’ compensation.
You’ll also save a lot of money by not having to pay for office space, equipment, energy usage or workplace resources such as paper or USB sticks. A smaller office means lower maintenance costs and long-term sustainable value.
Profit from new talent
With a virtual team, you are no longer limited geographically and can search globally to find the talent you need. With the amazing technology we have available to us, it’s easy to work with people around the world.
Of course, when you find amazing talent and have an amazing and reliable virtual team, it’s possible to branch out in the services you offer. You may find a way to add a new and complementary source of income to your business. You may also choose to take advantage of time differences around the world and create a virtual office to manage enquiries from markets you haven’t been able to reach so far.
Invest the savings back into your business
There are a couple of choices when it comes to using the savings you’ve made with your virtual teams. You can keep it in the bank for a rainy day, or you can invest some of it back into your business.
When you reinvest in your business, you give yourself more opportunity to grow and improve your market share. Smart reinvesting can help your business grow to a level you had only dreamed about.
Retain experienced workers
There are lots of studies being published which show older workers want to stay at work past retirement age because they enjoy it. That’s great news for businesses because it means they don’t lose all that talent. Like many of us, however, older workers would prefer to work from the comfort and convenience of their own home. Taking on mature workers gives you a solid backbone to your virtual team and gives you a level of experience that is difficult to source in younger employees.
Virtual teams are the way of the future and working with them makes sound economic sense. Do yourself a favour and start thinking ‘virtually’ right now.
Consider what areas of your business you can outsource. Ask yourself these questions to help get the ball rolling.
- What parts of the business would you prefer someone else to manage?
- Which areas of the business could do with an expert eye?
- Which parts of the business take up a lot of time yet reap little reward.
From marketers through to bookkeepers, there are plenty of virtual employees out there to help grow your virtual team. You just need to locate the perfect ones for you.