Running a small business is an exhilarating and demanding venture. As an entrepreneur, it’s easy to become consumed by the day-to-day operational tasks, but failing to balance strategic planning, tactical execution, and operational efficiency can hinder business growth. In this blog post, we’ll explore why small business owners must constantly consider their business’s strategic, tactical, and operational aspects and how virtual assistants and virtual business managers can play a vital role in achieving that balance.

Strategic Thinking: The “Why” and “When”

Every successful business starts with a clear strategy. Strategic thinking involves:

• Defining your long-term vision.
• Setting goals.
• Determining the direction your business should take.

It’s about understanding your market, identifying opportunities, and anticipating potential challenges. Strategic decisions include choosing your target audience, developing your unique selling proposition, and defining your competitive advantage.

By regularly revisiting your strategy, you can adapt to changes in the market, seize new opportunities, and ensure your business remains relevant. However, many small business owners need help finding the time or expertise to focus on strategy, which is where virtual business managers come in.

Tactical Execution: The “Where” and “How”

Tactics bridge the gap between strategy and operations. Tactical decisions focus on the “where” and “how” of executing your strategy. This involves creating a roadmap to achieve your goals, identifying the most effective marketing channels, and developing product development, pricing, and distribution plans.

While operational tasks can consume your time, focusing on tactical execution can limit your business’s growth potential. Virtual assistants can be invaluable in assisting with tactical activities such as social media management, content creation, customer support, and administrative tasks. They can free up your time, allowing you to concentrate on higher-level tasks that require your expertise.

Operational Efficiency: The “What”

Operational efficiency refers to the day-to-day activities that keep your business running smoothly. It encompasses all the processes, systems, and resources needed to deliver your products or services. While operational tasks may be essential, getting bogged down can hinder your business growth.

Virtual assistants can provide significant support in managing operational elements, such as bookkeeping, scheduling, data entry, and inventory management. You can focus on strategic and tactical activities that drive business expansion by delegating these tasks.

Unlocking Business Potential: The Power of Virtual Business Managers

While virtual assistants can be instrumental in handling operational and tactical aspects of higher-level strategic decision-making, you may need more experienced support. This is where virtual business managers step in.

Virtual business managers are seasoned professionals with the expertise to help you develop and refine your business strategy, align your goals with market trends, and optimize your operations for growth. They bring a wealth of experience in areas such as market analysis, financial planning, team management, and business development. Collaborating with a virtual business manager can provide the guidance and insights you need to make informed decisions and drive your business forward.

Conclusion: 

Running a small business requires balancing multiple dimensions simultaneously. By understanding the importance of strategic thinking, tactical execution, and operational efficiency, you can set your business on a path to sustained success. Virtual assistants offer invaluable support for managing operational and tactical tasks. In contrast, virtual business managers bring the experience and expertise needed to navigate strategic challenges.

Remember, finding the right balance is vital. Embrace the benefits of virtual assistance and virtual business management to optimize your business growth. By leveraging the support of these professionals, you can focus on what matters most: propelling your business towards more extraordinary achievements.

Get in touch today to explore how our virtual business management services can elevate your business!

Outsourcing provides your business with additional skills that you could struggle to find via the traditional recruitment route. A Virtual Business Manager (VBM) is a valuable business partner that will bring innovation, experience and drive to your business.

The Challenges of Recruiting

Recruiting somebody into your business is one of the most challenging tasks small business owners face. Even in a market where unemployment is high, the task of finding somebody “good” is like finding the proverbial needle in a haystack.

When you are in business, you want to surround yourself with people who are as dynamic, proactive, and driven, like yourself. While they may not share your entire vision, they should nevertheless “buy into” what your company represents. They must be able to contribute to your company’s long-term viability and growth.

It’s a business owner’s dream to be surrounded by people who are motivated and self-starters; people who instinctively know what to do in a moment of crisis. However, the truth is that the majority of people who apply for your office jobs will not fall into this category.

It’s Not Just Executives That Need Star Quality

Finding executive-level staff to help head various departments is essential. However, it would help if you never underestimate the importance of finding staff to help with the day-to-day operations. There is less at stake when recruiting lower-level staff, but these individuals still contribute to the greater good of the company. Without their focused and well-delivered effort, your company is likely to flounder.

Many would-be employees still view their employment as a means to an end. They are good at what they do, but they’re not inspired. Therefore, they are unlikely to seize an initiative should it be needed. Ideally, you want to recruit forward-thinking employees who bring ideas and energy to your company. Unfortunately, this kind of employee is often difficult to find.

Virtual Business Managers Are Valuable Business Partners

It is precisely this reason that business owners should outsource many of these critical positions to a virtual resource. A Virtual Business Manager is a small business owner themselves and knows full well what it takes to drive a business forward proactively. They can easily take on your outsourced tasks, offering a cost-effective and efficient solution. Additionally, they are a valuable business partner and advisor, that will contribute to business growth.

Next time you complain about the lack of star quality among potential recruits, consider outsourcing the position to a skilled Virtual Business or Office Manager.

Not only will the task be completed carefully, correctly, on time and within budget. But you will be able to draw on their previous business experience to help bring innovation and experience that will help your business grow.

As we start a new year, now is the perfect time to establish new habits and routines. In this blog, I will show you 5 routines all entrepreneurs need to build a successful business.

Building a business is tough, especially in the current economic climate. There are so many different ways to spend your time each day, and it is easy to lose focus. These five routines will 100% benefit you regardless of your business model or product/service.

1. Working On Your Mindset

In my experience, most issues small business owners face have nothing to do with their operations or strategy. Instead. they are linked to the business owner’s mindset.

Building a business is hard and sometimes damn right scary. There are often challenging situations you have yet to encounter, which can increase anxiety levels. Having a mindset routine gives you time to analyse these situations before they become overwhelming. That’s not to say this time will solve the problems immediately, but it will give you the space to view them in a less emotional way.

Consistently working on your mindset helps you develop the resilience needed to keep moving your business forward. The ability to keep showing up even when you have setbacks. The ability to constantly step outside your comfort zone to achieve your desired results.

Hence make it part of your weekly/daily routine to work on your mindset. This time could be spent with a coach, to give you accountability or just time out of your day to re-centre on your goals and mindset.

2. Networking

Networking can be, and for most small business owners, often is, their most powerful marketing tool. Especially with service-based businesses, you need to establish the ‘know, like and trust’ of prospective customers before they will purchase your services. The most effective way to establish a relationship with your target market is to get to know them and learn more about them. Networking gives you the ideal opportunity to talk one-to-one with your potential clients. 

Networking is the fastest way to connect the know, like and trust factors since it helps you establish genuine relationships with potential customers or potential referral partners. Because networking does not just build one-on-one interaction but also helps to build trust by association.

Referrals have been the most successful way I have grown my business. BUT networking is not all about marketing your company; it’s also about finding like-minded people to support you in your entrepreneurial journey. We all need people around us who understand what it takes to build a business and can provide constructive feedback on improving your business.

3. Asking For Reviews

Having social proof can have a significant influence on potential buyers. Being able to show testimonials and tangible results from clients can put you ahead of your competitors. It’s a simple yet massive boost to your know, like and trust equation if someone else endorses your services.

So, make sure you have a system in your business that proactively asks for reviews and ensure you maximise the value of this social proof by sharing on your websites or social media channels.

Check out my reviews by clicking HERE

 4. Understanding What Actions Generate Results

Put simply, are you spending the time in your business on things that bring results (usually money)?

Do you understand what is working and what isn’t working in attracting, converting and retaining clients?

It helps if you were tracking your results. The main figures to track, of course, are your finances. You should have a system to track revenue, cash flow and profit regularly.

You should also track your marketing. What is working, what isn’t, and how much each successful client acquisition costs you – because if it costs you more to acquire a customer than the profit you make, that is bad business. You also want to understand what products/services attract the most interest, this can be used to shape your future offerings.

It’s essential you also understand where you are using your time. After all, time is money, so you want to ensure you focus on revenue-generating activities – and potentially outsource anything else.

Your business will work best if you approach how you spend your time strategically. The first step is conducting a time audit of your current activities and then planning an adjusted activity schedule that focuses on your goals. This brings us to the final point …

5. Having (and using) A Project Management Tool.

I know I bang on a lot about this, but the sooner you start using a project management tool as part of your day-to-day work, the better!

It can be challenging to follow a strategy and recognise where your time is spent if you do not have anything in your business documented. However, once you do start documenting your processes, you need a centralised location to store those documents, processes and business strategies. That’s where a project management tool can help.

By using a project management tool, you will have a centralised location that stores, organises and even systemises the moving pieces of your business.

Building systems that make running your business a lot more manageable makes sense. It’s about simplifying, streamlining, organising, and ensuring you are taking action and moving towards your goals.

If you need help establishing any of these routines why not book a 30 minute consultation. We can chat about how I could support you in setting up systems, your networking activities or taking responsibility for your non-revenue generating tasks.