Elevating Consulting Profits with Human Virtual Assistants
Many coaches and consultants exploring the opportunity to delegate lower-level tasks to a human virtual assistant may be asking, “What’s the ROI of hiring a virtual assistant?” Whether operating on a volume or value-based pricing model, the strategic utilization of human virtual assistants (VAs) can be a game-changer in scaling a consultancy practice effectively and profitably.
However, getting a return on your investment in a virtual assistant depends highly on how you utilize and collaborate with your VA within your particular business model. In this article, we’ll discuss the best ways to utilize virtual assistants for optimal ROI for each pricing model and the best practices for retaining great virtual assistants.
Virtual Assistants for Volume-based and Value-based Pricing Models
As a consultant, you likely already understand that the consulting industry, with its diverse array of specialties and services, primarily revolves around two prevalent pricing models: volume-based and value-based. Volume-based consultants generate revenue through a high number of projects or hours billed, emphasizing quantity and operational efficiency. In contrast, value-based consultants focus on delivering substantial, measurable outcomes for their clients, charging based on the perceived value of their expertise and results.
If you are considering hiring a virtual assistant or have already hired one, this decision creates a need for a strategic shift in operational processes for both volume-based and value-based models. The key to ROI for a VA is being intentional about what you do with the time you get back from delegating. This means you may not see the expected return on your investment if you aren’t prepared to use that newfound time to focus on your core competencies and business growth.
Virtual assistants can handle a wide range of tasks for coaches and consultants, from administrative duties to more complex, specialized assignments. Common responsibilities include:
- Administrative Support: Managing emails, scheduling appointments, organizing calendars, and handling phone calls
- Client Management: Assisting with client communications, maintaining client databases, and managing client follow-ups
- Marketing Support: Helping with social media management, content creation, email marketing, and website updates
- Research: Conducting industry-specific research, gathering data, and preparing reports to aid in decision-making
- Financial Tasks: Basic bookkeeping, invoicing, and managing expenses
Scaling with VAs in Volume-Based Consulting
In a volume-based model, the key to making money is high efficiency and cost-effectiveness. VAs play a crucial role in streamlining operations, allowing consultants to handle a greater number of clients or projects without sacrificing quality. By offloading routine tasks to VAs, consultants can allocate more time to client acquisition and service delivery, thereby increasing their volume of work and, consequently, their revenue.
If your pricing model is volume-based, the best ways to optimize your ROI on a virtual assistant include delegating tasks that streamline your processes and create operational efficiencies. Delegate tasks such as scheduling, data management, and other tedious, repetitive tasks that are taking up valuable time you could turn into revenue-generating activities.
Of course, you can delegate other tasks that may be on your backburner list, such as a website copy refresh or updating your LinkedIn, but if you need to see a quick ROI on hiring a VA, delegate non-billable tasks that do not require your unique expertise but that you are currently doing yourself. The key to success for volume-based consultancies is to free up more of your time to make money.
Boosting Value in Value-Based Consulting
For value-based consultants, VAs have the biggest impact when they are contributing to the quality and depth of services offered. They can provide support in research and preparation, allowing you to offer more insightful, tailored advice and solutions. This deeper engagement not only elevates the client experience but also reinforces your value proposition.
Some examples of how human virtual assistants elevate value-based consultancy services include delegating communication tasks to ensure timely and personalized communication. Have your VA manage client inquiries and provide updates on project progress. This regular, thoughtful engagement nurtures a deeper connection with clients, demonstrating a commitment to their needs and a dedication to providing exceptional service.
VAs can also conduct comprehensive research on industry trends, competitor analysis, and market insights, providing a solid foundation for your consulting strategies. They can also assist in preparing detailed reports, presentations, and customized project plans. This level of preparedness and attention to detail enables you to approach high-value projects confidently and deliver innovative and highly relevant solutions to your clients’ specific challenges.
By leveraging the skills of a VA, you can focus on creating high-impact strategies and outcomes for your clients, justifying a higher price point based on the value delivered.
Best Practices for Working with Virtual Assistants
Regardless of your pricing model, how you approach collaboration with a virtual assistant can make or break your experience. If you are so busy that you don’t take time to onboard your VA and provide necessary training, your VA will likely fall short of your expectations or leave you for a client they find easier to work with. Remember, virtual assistants are freelancers in high demand, so they have a choice in who they take on as clients and most will typically choose to work with collaborative leaders who support their development and growth.
To retain your VA long-term, commit to what we call a CCD Agreement here at Trusty Oak:
- Communicate: Be intentional with setting expectations on the front end of delegation. Make yourself available to answer questions and commit to giving feedback on a weekly basis to increase trust and clarity.
- Collaborate: View your VA as a partner in productivity, but remember that you are the leader in the partnership. You drive the initiatives, and your VA executes your ideas. Work together to accelerate results.
- Delegate: Hiring a virtual assistant only supports you in achieving your goals if you delegate consistently. You need help, and VAs need the work. You’ll see your ROI if you free up more of your time, and your VA will also commit to supporting your vision if their needs are being met.
Elevate Consulting Profits
Whether your business operates on a volume-based or value-based pricing model, the strategic incorporation of a VA can significantly enhance your efficiency, elevate the quality of your services, and amplify your profitability. By partnering with a virtual assistant for your consulting practice, you can streamline operations, improve client relationships, and take your time back to focus more on your core consulting expertise.
Virtual assistants aren’t just an administrative aid; they are partners in your business growth. By entrusting them with tasks that complement their skills, you free up valuable time to expand your consultancy and deliver exceptional value to your clients. The strategic use of virtual assistants is more than an operational decision – it’s a pivotal step towards scaling your business and achieving long-term success.
Are you ready to explore the potential of virtual assistants in your consulting practice?
Whether you’re looking to enhance your operational efficiency, deepen client relationships, or simply get more out of your workday, a virtual assistant could be the solution you’ve been searching for.
At Trusty Oak, we specialize in connecting coaches, consultants, and other solopreneurs with top-tier virtual assistants. Our team of experienced VAs is ready to help you take your consulting business to the next level. Don’t let administrative tasks hold you back from achieving your business goals. Book a no-pressure discovery call to find out how a Trusty Oak virtual assistant can transform your consultancy practice and help you achieve the success you deserve.
Ready to grow your profits by bringing on a VA? Schedule a discovery call to learn how.
Before founding Trusty Oak, Amber spent five years at a rapidly growing digital agency based in Austin, TX. Four of those years, she was responsible for hiring and leading both local and virtual teams while working closely with clients ranging from CEOs to bestselling authors to build their brand online. As VP of Operations, Amber helped lead the company’s growth to #15 on Austin Business Journal’s Fast50 List in 2014.
As a female founder and leader of a company that has quickly established a recognizably special culture within a non-traditional workforce, Amber has energized and empowered women from diverse professional and personal backgrounds to go against the grain of historically standard female roles in business, technology, and leadership. Trusty Oak provides an opportunity for experienced admin and marketing professionals to work independently as freelancers, but with a supportive internal network consisting of other ambitious and resourceful remote workers.