If you're struggling to shoulder the burden of being an entrepreneur all by yourself and need more help, never fear. This post has you covered.
In this article, we'll discuss why you should move to a virtual team to provide assistance in the operation of your business. We'll go through the most significant advantages of virtual teams compared to conventional, in-person teams.
Save Time = Save Money
The first and foremost benefit of a virtual team versus shouldering all your work yourself is the obvious time savings that you'll experience. When you're an entrepreneur, you'll always have so many different things that constantly demand your attention. As a result, your time is literally money. The more time you save on menial tasks, you more you can invest in revenue generating activity.
Virtual teams are perfect for reducing some of the burdens of the administrative work that goes into starting a business. And because virtual teams can be particularly cost-effective if you hire from the right locations, the ROI on investing in a virtual team is heavily skewed in your favor.
Reduce Training and Maintenance Costs
One of the principal advantages of virtual teams compared to an in-person is a reduction in the training and maintenance costs of the employees. When you recruit remote workers, you don't have to pay for insurance/benefits/office expenses and the like.
The same story is true when you consider training. Since most contracts for remote workers are hourly, you won't have to pay salary when the virtual team is training and ramping up. Thus, you pay less money before they become fully productive, making them a better investment in the long term.
Take Your Business Global
A virtual team is without a doubt the easiest and cheapest way to take your company global. If you're currently based in the USA but want to branch out your sales to Europe, for instance, you can easily hire a salesperson based out of Europe and begin selling there.
Instead of having to setup another office, pay rent for office space, pay benefits and insurance, learn all the ins and outs of commercial law in Europe, you can be up and running in as little as a few weeks with a virtual team based out of Europe. Clearly, the advantages are enormous.
Easily Replace Poorly-Performing Employees
One of the best advantages of successful virtual teams is the flexibility that naturally accompanies a virtual team. Because you can set everything up to contract-based, you can easily negotiate the contract to be contingent on good performance.
If a member of your virtual team isn't delivering their best work, you can easily replace that member of your team with very little effort. Just let the employee go as per your contract, re-post the job listing and go through the training and ramp-up process again. If you had a conventional team, this would be a much longer and more convoluted process. The virtuality, however, provides much greater flexibility.
Build Your Virtual Team Today
Now that you know why you should have a virtual team, all that's left to do is start building yours! Use the various resources available online to start selecting the right remote workers for you.
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