Category: Finance

Virtual PA services have both similarities and differences from the traditional PA model. Unfortunately, some business owners are reluctant to sign up for support from virtual PA services because they don’t know what they can reasonably ask their virtual PA to do. This means they’re missing out on some great support.

If you’re wavering about taking up virtual PA services, you’re not alone. To help you, we asked one of our virtual PA’s Juliet to talk us through the top tasks her clients ask her to do. We’ll also take a look at more unusual tasks and how to go about finding the right support to deliver them. Read on to find out more.

Top tasks for virtual PA services

Email

Juliet: Email monitoring is one of the biggest areas of my role. With hundreds of emails arriving every day, it can be difficult for business owners to pick out the most important ones. That’s why I manage client’s inboxes, monitoring the emails to make sure that the right people see the most important messages and action them.

I keep my own records as well. If I notice an important email has not been actioned, I follow up with the recipient so it doesn’t go unanswered.

Initially, I send holding emails in reply so the sender knows their email has been seen. As time goes on and I get to know client’s businesses and how they work, I can reply to some emails myself, taking the pressure off the core team.

Outsourcing email monitoring means the clients can focus on their core business, confident that there is a VA looking out for the most important messages and taking the pressure off.

Accounts

Juliet: Having worked with a number of clients, I’ve got to know different types of accounting software! This helps me slot into a new business easily, and makes me more confident about taking on a new accounting platform. I enter the right data into the platform and chase and reconcile invoices.

Many business owners cite finance as their weakest area – if you hate it, you’re not alone! Fortunately, outsourcing means invoices can be reconciled more quickly and business owners don’t have to worry about it.

Reporting

Juliet: Many of my bigger clients have boards of trustees who have oversight of the business figures. Part of my role is to assemble quarterly reports, pulling together information from other sources so the trustees have an accurate picture of the business.

Preparing for board meetings can take up a lot of precious time. Fortunately, outsourcing the quarterly reports gives you that time back.

Events

Juliet: I often organise events, training and conferences for my clients. I’ve built up my own directory of venues and other services to help the practical side of business events run smoothly.

I love being able to share my established contacts with my new clients. Because I have worked with many different businesses over the years, I’ve developed a network of events contacts which I use to support my current clients.

What about other business support?

Get Ahead has a wide range of virtual experts. Even if you have tasks that fall outside virtual PA services, we have the expertise to deliver them. For example, we might match you with Juliet (or someone with similar skills) to put together a conference or stay on top of the emails. And if you have other jobs, like developing a new website or marketing a new product, other members of our extensive team can help. Even if you have more unusual requirements, like collating notes from a workshop, we hope you’ll come to us – we can always find the right support for your needs.

Virtual PA services from Get Ahead

Our team provide back-office support so that business owners can focus on their core offering. And without having to spend their evenings catching up on paperwork, business owners regain the free time and flexibility that they were looking for in the first place!

Want to find out more about virtual PA services? We’ve put together some of our resources to help you – have a read!

One generalist or a team of specialists? – Get Ahead VA

Don’t know whether to outsource? – Get Ahead VA

A hand-picked team for your business support – Get Ahead VA

Hut22 – a flexible solution for a changing workload – Get Ahead VA

Have you had a great year or do you still need to achieve your business goals? With the end of Q4 looming large on the horizon, it’s time to focus on anything you haven’t yet achieved and take action to complete your goals.

But to achieve our goals, we need the right mindsets. In this blog, we look at positive ways to approach the end of the calendar year. 

Be brave and honest

When we don’t look at our goals, and don’t measure our business in any way, it’s easy to assume everything is going well. And for some of us, it’s easy to assume it’s all going badly, so we avoid looking at it because we think we won’t like what we see. 

But Q4 is the time to see an accurate picture. Be brave and revisit your business plan and business goals. Are you on track? Are you where you expected to be? If not, what do you need to get you there? 

Focus 

It’s amazing what we can do when we focus. Turn off your notifications, put your phone into monk mode and clear down some of those tasks that have caused blockages in your working life. Check out our blog on tasks you can do in one hour – you might be surprised at how productive you can be! 

Embrace new approaches

Often, the issue that is blocking us from achieving a business goal can be removed relatively easily. However, “we’ve always done it this way” can be a real barrier, preventing us from upgrading to a good customer management system or reorganising our business premises. 

To achieve our goals, it’s sometimes worth looking at alternative approaches and embracing change. Talking to business coaches, Get Ahead regional directors or other business owners can give you a host of ideas to help you.

Be a finisher

As entrepreneurs and business owners, we love having new ideas and getting them off the ground. When we do this, we’re “starters.” A starter is a fantastic thing to be and without us, the world would be a boring place with no opportunities. 

But the end of the year is the time to be a finisher. Finishers have the commitment and maturity to see their goals through to the end. Finishing can be less exciting than starting, but it is what makes the project worthwhile. 

(By the way, if you’re not a finisher and know you never will be, consider outsourcing – see below!)

Celebrate your achievements

When we complete our annual or Q4 goals, it’s time to celebrate! Be proud of what you and your team have achieved. We can all gain more from the achievement by learning from it – what went well and what was a struggle? The successes show us what we could be building on next year and may help shape our business purpose and brand. And the struggles will be easier next time if we learn from the experience. 

Achieve your business goals with outsourced support

The Get Ahead team are great at unblocking businesses which have got stuck for want of the right support. Our virtual experts can take on the tasks you procrastinate about, or fill a skills gap to help you complete a goal or project. To find out more, contact your local regional director today, or explore our site for more business resources. 

Outsource finance admin, bookkeeping or accounting and you could find your business running more smoothly.

There is lots of support out there for business owners who need help managing their finances. From a day-to-day finance admin service to in-depth accountancy, there is a solution for every situation and every type of business.

In this blog, we look at the different levels of finance input available, and how to work out what’s right for you.

What outsourced roles are available to help with finance?
Finance administrator

The finance administrator’s job is to raise invoices, answer queries and chase payments on a daily basis. They manage expenses, ensuring that outgoings like petrol, phone bills and coffee (!) all have their corresponding receipt so you can see where your money is going. Most finance administrators are familiar with accounting apps like Xero and Quickbooks. They can use these to generate reports so you can see your profit and loss at a glance. A finance administrator will also submit financial records to your accountant at regular points doing the year.

Unlike bookkeepers and accountants, finance administrators don’t usually hold formal qualifications. Instead, they’re usually highly organised people with a head for figures. They combine their natural abilities with experience to provide the finance help your business deserves. 

A finance administrator is usually the cheapest option. 

Bookkeeper

The roles of a bookkeeper and a finance admin overlap, and most businesses have one or other. However, the bookkeeper’s role is a little different from that of a finance admin. Bookkeepers have usually undergone specific finance training and may hold qualifications in bookkeeping. This means they can analyse figures as well as generating them, and can often contribute to decision making.

A bookkeeper’s hourly rate may be higher than that of a finance admin, because the bookkeeper holds more qualifications and responsibility. 

Accountant

Accountancy covers financial reporting and compliance, including tax, VAT and auditing. Accountants look at business finance in detail and check you’ve followed all the regulations you need to. Unless your business finance is complicated, you might only use accountancy services once a year.

Not all businesses need an accountant, particularly if your turnover is below the VAT threshold. 

This is the most expensive option, but you might pay for it as a one-off service.

What type of business finance support do I need?

The first thing to say is that you don’t necessarily need any support in this area at all. If you’re confident keeping your books and reconciling your accounts, and your business is straightforward, carry on! 

But if finance isn’t your forte, or you’re procrastinating about it because you secretly hate it, or you just don’t have time to do it, outsourcing financial admin is a good place to start. 

If your business has straightforward income and outgoings, a finance administrator will probably be enough for your needs. But if you need more input and advice, having a bookkeeper play a regular part in your day-to-day business is a good idea.

If you have a high turnover, or your finances are complicated, it’s a good idea to engage an accountant. For example, if you are a charity and have to account for your spending, or your corporate social responsibility gives you tax breaks, you might need some more in-depth help. 

Outsource financial admin

If you feel it’s time to outsource your financial admin or find a bookkeeper or accountant to work with you, Get Ahead are here to help. Our experienced regional directors can help you identify the right level of support, giving you the service you need and value for money too. Get in touch to find out more.

PS – we’ve put together an infographic on the key differences between a finance admin, bookkeeper and accountant – check it out here!

Outsource financial admin and you’ll be well on the way to running an efficient business. But if you’re a business owner who doesn’t like finance, you’re not alone. And if you’re thinking of setting up a business but you’re worried about the numbers side, we’re here to tell you it shouldn’t hold you back. 

In this blog, we talk to finance administration expert Holly, who answers the top questions new business owners ask. 

Where do I start with business finance?

Holly: Finance platforms like Xero and QuickBooks have made life much easier for business owners – I’d strongly recommend subscribing to one. I personally like Xero but it’s a good idea to watch some YouTube demos, read about what the different platforms offer and choose the one that you feel will work for you. 

It’s important to remember that these platforms don’t take away the finance work completely. You will still need to do your own reconciliation, which is when you prove your income and expenditure with receipts and invoices. 

I’m a bit disorganised – how do I keep track of receipts and invoices? 

Holly: Don’t worry – you’re not alone! The easiest thing to do is set up a dedicated email address for suppliers to send invoices to so all the invoices are in one place. This means you can find them easily when it’s time to reconcile the accounts. 

There are also some great “receipt” apps which are compatible with Xero and other platforms. For example, if you meet a client for coffee, you get a receipt and photograph it using the app so the information can be added when you’re reclaiming tax. This means the information on the receipt is stored in the right place and you can throw the paper one away.   

How do I chase unpaid invoices?

Holly: Automation has definitely made chasing invoices easier. Instead of making an awkward phone call, you can now send automatic reminders via an app. There are a number of apps available. I personally like Chaser, because it’s really easy to personalise the message if you need to. It also lets you turn off reminders if, for example, you’ve heard from the client and already know the payment is going to be late. Automation doesn’t have to undermine a good working relationship! 

What about VAT and tax thresholds? 

Holly: Tax can get very complicated but the important thing to know is that how much you pay is based on your profits and turnover. This means that you probably won’t have to worry about VAT registration when you first set your business up. You can find more information on the HMRC website here.

I do what I love but how do I make it pay?

Holly: Most business owners work in a field they know and love – it’s the best way to stay interested in what you’re doing. But to stop it from just being a hobby, consider what income you need to make from it, and what expenditure you are likely to have. 

You can gather financial reports and profit-and-loss data from your accounting app, which should give you a sense of how well your business is doing. With this information, you can forecast your figures, identify next steps like how to sell more of your product, and make key decisions like whether to take on more staff.

Outsource financial admin to Get Ahead

Get Ahead provides financial administration services to a wide variety of businesses across the country. We know that finance is both a business essential and a source of stress, so we’ve put together a range of resources to help you. Check them out! 

Blogs:

Is Xero a replacement for my accountant? – Get Ahead VA

Why are financial goals important for my business? – Get Ahead VA

Effective ways to chase unpaid invoices – Get Ahead VA

Regular accounting tasks for small businesses – Get Ahead VA

Infographic: 

Regular Finance Tasks for Small Businesses – Get Ahead VA

Many business owners experience barriers to delegation – potentially disastrous as your business cannot grow without it. Sometimes there is a deep-seated reason why you can’t ask for help; for others, it just hasn’t occurred to them! 

In this blog, we look at common reasons business owners struggle with delegating, and consider the ways you could overcome them.

Common barriers to delegation

1. Imposter syndrome

When we experience imposter syndrome, we believe that we’re an imposter in our sector. We feel like we shouldn’t be in the role of a business owner, or we don’t feel like we’re qualified to work in that industry. Imposter syndrome – unlike actual fraud – is when we have all the qualifications and experience to do our jobs, but we still feel like we shouldn’t be there.

Imposter syndrome is a barrier to delegation because if we don’t feel entitled to do our jobs, how on earth can we take the lead when we ask someone else to do it? And how can we give feedback with confidence? 

Sometimes, all we need to overcome imposter syndrome is a quick reality check. Look back at your qualifications, if you have them. And if you’re a graduate of the University of Life, spend time remembering how you learned all the skills that got you where you are today. 

If your imposter syndrome is more serious than that, it could be helpful to talk to a life- or business-coach. We have quite a few in our business family – talk to your local regional director if you would like an introduction. 

2. “It’s quicker to do it myself than show someone else.”

We’ve all said this at some point! But the truth is, showing someone else is a long-term investment in your business. Certainly, the first time you do it, briefing your staff member or outsourced support will take time. However, once that initial briefing is out of the way, your business now has two people who know how to do it, instead of just one. This means one less thing on your to-do list; it also gives the business flexibility as either one of you can take responsibility for it in future. 

Accepting that you will “lose” an hour while you brief someone else on how to do it is easier when you also see the long-term advantages you’ll gain in return. 

3. Micromanagement 

Micromanagement is often a symptom of a lack of trust. If you don’t trust your staff or external support team, ask yourself why not. If their work is rubbish, stop micromanaging and hire someone else! And if the problem is with you, take action. Remind yourself that your team doesn’t want to do a bad job – they’re on career paths too.  

Overcome barriers to delegation when you outsource to Get Ahead

If you’re struggling to ask for help, Get Ahead could be a good way to start. You’ll have a single point of contact in the form of your local regional director – they’ll be able to introduce you to the right expert who knows your industry and also has the right personality. 

Often, they’ll encourage you to start small, perhaps with some outsourced diary management. If that goes well, you have the option to increase the amount of support you receive. You’ll never be locked into a long contract, and there’s always the option to add or subtract services as your needs change. We hope it will all go well, but if anything doesn’t make the grade, you can discuss it with your regional director. This means you don’t have to give feedback directly to your virtual expert if you don’t feel comfortable.

If you’re ready for Get Ahead to support you, get in touch today – we’d love to hear from you! And if you’d like more information on how to outsource successfully, download our ebook here.

Small businesses don’t always have the same financial security that a bigger business has. This can make expansion difficult, and leave business owners struggling. Without the means to pay more staff, or the security that they can keep on paying wages, some business owners are thinly spread and unable to take their business to the next level.

Fortunately, outsourced business support is an affordable, flexible solution that enables business owners to access cost-effective support they can turn on and off as required.

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As outsourcing experts and flexibility champions, the team at Get Ahead can see many reasons why delegating admin to a virtual PA (also known as a virtual assistant) is great for your business. It’s worth noting that we outsource our admin to our own remote team, doing just what we recommend to our clients and reaping the same benefits.

Here are the top reasons working with a VA is an efficient solution for your business.

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You’ve fulfilled your dream of working for yourself and being your own boss. This is great news – we’re thrilled for you! But we also know that working alone can be tough. This applies to people in many professions, but particularly business coaches and life coaches, who give so much support to others that they sometimes neglect their own businesses.

In this blog, we look at ways to make working for yourself as fruitful and efficient as your business deserves.

The advantages of working for yourself

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Get Ahead has been supporting coaches for almost as long as we’ve been in business. Some of our most successful working relationships have been with life coaches, business coaches and personal branding experts.

In this blog, we look at why outsourcing is a great solution for coaches.

Why is Get Ahead a valuable resource for coaches?

Coaches, like other business owners, usually have a long to-do list. In addition to working with clients to help them find their strengths, we know that coaches also have to market their businesses, stay on top of invoicing, create resources, keep up with the filing and more.

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One quarter of the year is a long enough period time for you to notice trends, but not so long that patterns become irrelevant. As we change from Q3 to Q4, it’s a good time to review the last quarter, measure the success and take on learning points for the coming quarter.

In this blog, we look at the four questions business owners should be asking during a quarterly review.

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