How’s your working week looking? Sourcing, listing, packing, prepping, repricing, accounts, inventory management….
That’s a fairly normal working week for Online Arbitrage business owners!
For you smaller sellers, you’re probably packing it into a couple of evenings and a little time at the weekend. Those of you who’ve scaled your Amazon business….
….this might be your working life now!
What if you didn’t have to do ALL of those tasks? Or at least not need to cajole your loved ones to pitch in!
What if someone more qualified than you picked up some of the slack?
Ok, no one knows your business better than you, but some of the tasks could be fulfilled by some very experienced operators.
VAs – Virtual Assistants for the uninitiated – are getting more and more experienced in a wealth of industries. Basically, anything that can be performed online is being done by a VA somewhere.
And, by virtue of its name….
….Online Arbitrage should be one of the biggest beneficiaries of the VA movement
However, there are things to beware of when considering them for your business, so are VAs really viable for Online Arbitrage?
If you do it RIGHT, then absolutely. Especially as BuyBotPro might have the answers you would need answering.
Are You TOO Important For Your Business?
This sounds like a nonsensical question. It’s your business, so of course you are important.
Without you that business wouldn’t even exist
So, what do we mean when we say TOO important? That surely doesn’t sound plausible.
There is method behind the theory though. What happens if you burn out or get ill? What about if you want a vacation, your full-time job gets busy….
….or friends or family need your attention for a while?
All of these things are going to happen for most of you, and you’ll push on through
Your business may NOT push on through, at least not in the manner it would in a normal week or month.
Consider most companies – if an employee can’t make it to work, someone else is likely to pick up the slack for tasks that are business critical.
Sharing the work around makes good business sense, but not just because of the contingency it provides.
A new set of eyes, even without OA experience, is healthy too
There are plenty of VAs out there with lots of Online Arbitrage experience though, working with a range of sellers and operating under their processes. They’ll have seen plenty of different ways of working.
Being open to hearing new ideas – even if you don’t adopt them – is going to be a valuable asset to have as a business owner.
Adding more experience to your team will only enhance the possibilities for the future.
It’s an oldie, but you need to be working ON your business more than IN it
At some stage you will get to the point that you are just doing what needs to be done to keep the business running. Whether it’s a part-time gig around another job or you are operating out of a warehouse….
….whatever level you are working at as a solopreneur.
Great, the business is running, but where is the business going?
Are you getting to spend time on moving your business forward?
Another cliché, but a good’un, is that if your business is standing still it is moving backwards. Industry moves forward and develops – standing still means you’ll drop below the curve.
Stepping back and looking at your processes, sourcing strategy, repricing game – any part of your operation in fact – is an important part of running a business.
You need to develop too….spend time learning to move YOUR pathway forward
Whether it is learning new ways to maximise your Amazon Seller Account, moving into another branch of eCommerce, or even developing new skills in another area of entrepreneurship….
….feeding yourself with new challenges will keep you fresh!
If you aren’t staying fresh more mistakes might creep in, and more pressure, perhaps leading to diminishing motivation.
We think VAs can be a really valuable INVESTMENT into a business
BuyBotPro, and its sister tools, wouldn’t have become market leaders without the help of teams of Virtual Assistants along the way. Some of them have been with us for years.
What you get them to help with, and how, will be key though….
The Role Of A VA
Let’s get down to the nitty gritty then….what exactly can you get a VA to do for you.
What tasks can you farm out to free up some time….and stress!
The thing to really think about is which ones do you LEAST like doing. Sure, you love your business….
….but no job is perfect!
List out the task you regularly do in your OA business. It’ll probably look something like this:
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The list obviously isn’t exhaustive. Each business will have its own quirks, be it Retail Arbitrage sourcing, using a prep centre, managing a team….tweak your list as you see fit.
What you will have is a handful of tasks that Virtual Assistants can do
Most sellers who get into recruiting VAs tend to start with sourcing. It can be one laborious task if we’re honest, and isn’t as business-critical as some of the other jobs on the list.
Yes, sourcing is important, but until you pull the trigger and purchase a deal nothing has been committed to.
Most VAs you are likely to consider will be located overseas as it’ll make the most financial sense – they tend to charge lower rates, especially in many Asian countries – but as sourcing can be done from anywhere it makes a lot of sense.
Even if some retailer sites aren’t accessible in some countries, a VPN will quickly solve that
With the Export Data feature in BuyBotPro it is easy for VAs to add deals to a Google Sheet, and the VA Toolbox means there’s a structured way to make the most of them.
Yes, you’ll need to invest a bit of time at the start to train them – even if it is just to your standard if they have experience – but training should always be considered an investment.
Time and money invested in a VA at the start WILL pay off later
Training the basics won’t take long, especially if you use the free BuyBotPro VA Course….you might even learn a thing or two yourself!
Outside of sourcing, managing all the other sides of your business are all fair game to be delegated to capable VAs.
Managing your inventory, be it tidying up out of stock ASINs, reviews, stranded inventory, removals, reimbursements etc. is an ongoing task that are often given to a manager to oversee.
This and repricing – which doesn’t require much effort if using Profit Protector Pro – often come under the auspice of an account manager which is a role sellers might fill later in the day, but….
….once they get on the VA bandwagon it is hard to get off!
The day-to-day accounting is also a popular task VAs are employed to do as businesses grow. Plenty of sellers aren’t numbers people….
….or consider the time they spend on it wasted!
Think about the Online Arbitrage tasks you are happy to delegate out….
….and the ones that would buy you more time to work ON your business
There’s a wealth of experience out there in the VA world….make use of it!
How To Find A Virtual Assistant
There is no secret that VAs are a cost effective solution for online businesses, mainly because you are recruiting from overseas….
….from countries where the workforce offer excellent value
The cost of living does not transfer evenly from country to country, so whilst what you are likely to pay for a very talented VA won’t cut it in your home country….
….it can provide an EXCELLENT income in others.
Virtual Assistants in some Asian countries in particular are taking advantage of the possibilities the internet offers.
They are making themselves very employable to attract western pay cheques
The dedication to learning and producing results many of them have - given the rewards you can offer them - is rightly appealing to you too.
Whilst many of the tasks Online Arbitrage businesses need fulfilling are considered low skill, there is a LOT of skill out there.
Finding experienced VAs is easy nowadays
Online gig websites like Fiverr and Upwork are full of talent and experience, but don’t forget to ask the question in Facebook communities too….
….you might get some excellent recommendations from other sellers.
Plus, follow the guidance from the BuyBotPro VA Course….
….where you’ll get a walk-through on recruiting for your business
Even if it is not quite time for you to make the jump, it is worth investigating the process now, so you are ready when the time comes.
You might even find you are more ready than you thought!
How To Manage Your VAs Successfully
Luckily, if your concern is around how you manage your new Virtual Assistant, there is a free VA Course that will set you on the right path.
The challenges you will face are a little different to traditional team management
Keep it simple and you’ll find it is actually EASIER to manage a remote team.
It starts with some clear training – again, there is a structured set of training videos for the basics in the VA course – and getting a clear idea of what they know along the way.
Setting clear expectations – whether cultural, behaviour-led or tangible performance-based – is going to be the most important thing you can do at the start.
Finding out if your VA is aligned to you from day one will make BOTH your lives easier
Be yourself though, human to human. People are far more likely to respond to you if they can relate to you!
Set some criteria though – aside from your sourcing criteria – and let them know you will monitor their productivity….
….and reward them when they achieve!
You don’t need to buy them flash cars or a new watch every time they exceed their targets….but acknowledging them, perhaps throwing in a little added bonus once in while, will go a long way too.
A supportive boss will almost certainly get more from their team than one who expects achievement.
Give them the tools they need, whether it is access to the VA Course, writing them up a cheat sheet for those difficult days, a direct number to ask you questions….or as simple as set aside time to just talk.
Regularly check-in with them about how they are finding the work
Don’t be scared to give constructive feedback too. People will appreciate honesty….just not TOO much honesty, if you are someone who is direct!
Taking on a VA is a commitment – make sure you are doing all you can to make sure they succeed. Having to replace one will take more time and money!
Aside from the people and performance management skills you are going to hone….
….you will need some tangible ways to assess their performance
The BuyBotPro VA Toolbox will become your new best friend.
You’ll get a rundown in the BuyBotPro VA course or in this training video, but safe to say it’s going to make your life a LOT easier….
….and it’s FREE!
How Will Using A VA Change Your Working Week?
Recruiting a Virtual Assistant won’t mean you won’t have ANY work to do on the tasks they are employed to do, but….
….it WILL mean your working week will change
The likelihood is that your first VA will be doing a lot of sourcing for your Online Arbitrage business. Not only will that relieve you of the most time-consuming part of your business….
….they will likely be able to spend MORE time on it than you could.
Whilst this is great news, there is still work to do.
The key is using that time to REALLY benefit your business
As we mentioned above, you will need to invest some time in your VA – be it monitoring performance, ongoing training….or just getting to know them – but what else will you do?
The first instinct is going to be to work less.
And that is absolutely an option we would advocate.
Being RESTED is going to be a real positive for your business’s productivity
We’re not suggesting you just sit back and put your feet up all week, but if your main purpose for recruiting a VA is because you are struggling to manage your time and maximise your business….
….taking a little time will keep you refreshed for the rest of your business.
It will be more important than ever to get structured with your week
If you are investing in freeing up some time with a Virtual Assistant, have a plan for what you are going to do with that time.
Sure, schedule some downtime, but you are making an investment which needs realising to make VAs really viable for Online Arbitrage.
Set time aside for learning and developing yourself as well as your VA
If they are sourcing you can STILL source yourself, just make sure you are liaising with them that you aren’t duplicating retailers. It would be prudent to keep your hand in.
The opportunity to change up your working week should be a positive for your business….
….it’s the time to REALLY grow it!
Giving up some of your business to the hands of a VA might feel a big step, but it will be liberating when you get to the stage one makes sense. For ideas of how to spend your new-found time ON your business, check these out:
How To Really Do Retail Arbitrage: Maximise This Proven FBA Model
Do THIS For Your Online Arbitrage Business If You Need Inspiration For Items You Can Sell On Amazon