You outsource
OK, already I can hear the groans from some sectors within the small business community – isn’t outsourcing Business Support a tactic of large businesses who can afford the investment?
Well, before digging down into whether outsourcing is for big or small business, let’s look at some recent stats around smaller enterprise outsourcing in general –
8 out of 10 small businesses outsourced business functions in 2021.
67% of UK start-ups in 2021 outsourced in need of a skilled workforce.
These statistics and similar, clearly show a trend in which modern small businesses are fully utilising the benefits of outsourcing, and how start-ups view outsourcing as a necessary element to competing in a crowded marketplace.
Are there risks in hiring a freelance EA?
As any business owner knows, recruiting is never risk free, but when it comes to hiring an Executive Assistant, the cost is scalable, so the risk is minimal, and under your control.
And, if there are any risks to speak of, they’re far outweighed by the value an Executive Assistant brings to a business, particularly to small businesses and startups.
To get a better understanding of this value, think of the tasks an EA would typically undertake, including:
Supporting with all things people / HR
Operational support
Project Management
Compliance and someone to review how things are going
Managing diaries and communications
Arranging travel, logistics, meetings and events
And the list goes on…but what about the value?
Let’s start with time
Think about how your small business or startup currently manages the above tasks, and in particular, the time taken for each one.
How long does it really take to reply to one or a number of email threads… and how much time does it take to arrange a meeting involving a large number of attendees?
By hiring a competent Executive Assistant, these and many other tasks will be taken off your hands, allowing you time to knuckle down at what you’re good at, and focus on developing your business and achieving your goals.
And let’s not forget the savings
One of the key reasons more small businesses are hiring EA’s, is that you only pay for what you need. Regardless of whether it’s over a year, or for a shorter period for a specific project, you’re only paying for the time period required, without the other expenses associated with taking on a fulltime employee.
In conclusion
In answer to the question ‘can your small business afford to hire an Executive Assistant’, I think the question should be, ‘can your small business afford not to hire in business support?’