What is a Virtual Business Manager?

A Virtual Business Manager is there to manage all aspects of your business such as operations, projects, people and metrics. They handle everything from the logistics of planning an event to product launches, to overseeing the day-to-day operations of running your business. They’re there to act as strategic support to you, a partner of the business, and to help you meet your business goals. A Virtual Business Manager is NOT the same as a Virtual Assistant, a project manager or account manager. Yes, a good Virtual Business Manager will cost you money, but if they’re great at their job, they will be worth every dime.

Have you ever wished you had a business partner without actually having to share the business?

Just another person to share the workload and provide leadership support? 

That’s exactly what a Virtual Business Manager can be.

The difference between a Virtual Assistant and a Virtual Business Manager:

A Virtual Assistant provides administrative support to a business. Handling emails, corresponding with clients, calendar and appointment management, basic digital marketing tasks and preparing reporting could all be some of their required duties. Their role relies on the execution of specific duties assigned to them.

A Virtual Business Manager is there to work with business owners and create custom strategies for their business. Process implementation, money management, short term and long term strategy planning and hiring can all be part of their job depending on the specific needs at any given time. Their role is all about being both the planner and the task master, ensuring all aspects of the business are running efficiently and decisions being made to support the broader business goals. There are three key areas the majority of the Virtual Business Manager responsibilities can be categorized.

Operations Management

  • Client/customer onboarding systems
  • Client/customer systems management
  • Creation and updating of workflows/systems
  • Capacity management for the owner and overall team
  • Software/apps coordination
  • Money management oversight
  • Act as a liaison with the bookkeeper, CFO or other money management professionals working with the business

 

Project Management

  • Breaking down large projects into small, manageable steps.
  • Setting up projects to-dos for everyone on the team.
  • Ensuring effective deployment of tasks, including making sure appropriate resources are in place for execution.
  • Continuously monitoring projects and tasks for adherence to timelines.
  • Updating project to-dos as priorities shift.
  • Troubleshooting missing resources or bottlenecks as a project progresses.

 

People Management

  • Developing a short-term and long-term hiring strategy
  • Hiring employees and contractors
  • Training employees and contractors
  • Day-to-day performance management
  • Periodic performance reviews
  • Task execution support
https://vimeo.com/792437787

When To Hire a Virtual Business Manager

You may not know what you need, but you feel like something is missing. Your team is great and working, but it’s not enough. The key to growing your team successfully is to hire before you are completely in a mad rush for help. Not having the right support in place as you grow your business contributes to stress, overwhelm, and burnout for owners and team members, as well as negatively impacting the trajectory of the business.

It’s a common scenario for the leaders of the business to end up slowing things down because they have too much on their plate. You’re used to doing everything yourself, and as the business evolves, so does the workload distribution. It’s nearly impossible to master your role as CEO when you spend your days putting out fires and actually doing the work that needs to be done.

#1. You’re stuck at a certain point in your business but you have a proven business model.

If you reach the point where you aren’t making the headway you’d like towards reaching your goals but your business model is solid, having someone come in with a fresh set of eyes and a suite of skills to assess your current state can be a complete game changer. Because you’re spending so much time working in the business, shifting towards having someone working on the business can make all the difference. A Virtual Business Manager can help provide both the strategy and resources you need to drive your business forward.  

#2. The business has many moving parts and is becoming unmanageable for you to do it all alone. 

Running a business where you offer multiple lines of products, services or revenue means each thing has its own set of logistics to be handled. The chance of a ball getting dropped and you ending up getting burnt out is probable. Having a Virtual Business Manager means someone else is covering the logistics of it all, and you can concentrate on being the visionary and staying in your zone of genius. 

#3. You’re willing to invest in your business.  

Hiring a Virtual Business Manager is truly an investment in your business. You are one person, or maybe you already have a small team, but the fact is time is finite and you only have so much capacity. If you want to increase productivity, you will eventually need to establish and/or expand  your operations team, and having a Virtual Business Manager who can drive strategy, operations and hiring decisions is one of the best investments you can make for the long term. 

#4. You’re ready and able to give up control. 

This can be a BIG challenge for those of us who built our businesses from the ground. We’re used to having control of every aspect of what goes on within the business. The reality is, we can’t be that person forever if we’re ever going to grow, but this can only happen if you’re ready to let someone else step in and take the reins. When you hire a Virtual Business Manager, it doesn’t mean you’ve lost control — it means you have taken further control in the future and success of your business.

Here at Vanguard Virtual Solutions, our professional business managers will synchronize and manage different areas of your business operations, so you can focus on your business growth. Onwards and upwards!

You might also enjoy: