An Entrepreneur often plays a game of risk, because an entrepreneur has the capability to turn the risk into opportunities. Each risk and struggle that comes in the way of entrepreneur’s success, work as a guide for them to achieve the goals. It might sound easy, but it does require a certain amount of planning that is necessary to be the center of admiration in the market.
A Virtual Strategic Partnership, the alliance of two businesses. It can be temporary, where two entrepreneurs or business entities come together and share their skills and core competencies to move quickly and flexibly when any opportunity arises. Sometimes, a business cannot grow directly. In such cases, some tasks and responsibilities can be directly entrusted to another person or organization, known as a virtual assistance so that you can focus on what matters the most.
Why Virtual Strategic Partnership?
Startups and small businesses may face the problem of liquid cash or even if you have required cash flow, you may not have the time and expenses to hire one employee for one particular job role. That is the reasons behind business turning into Virtual Assistants. Startups and business get benefited with Virtual Assistants as the virtual assistants use the minimum resources to bring the flexibility in the organization in terms of budget.
Any business being in virtual strategic partnership can pick resources from any part of the world as per the requirement and make the best choice. As it makes the work easier, it also has its own challenges in managing virtual team i.e., Team communication, project management, scheduling the meeting of the virtual team as per the organization’s culture.
Reasons behind the trend of Virtual strategic partnership in business:
- You may not have the time or may not afford to hire a full-time employee for each department.
- You need to finish the work, but don’t have the required resources.
- You understand the work process, but don’t have time to execute it.
- You know the tasks are pending but have no employee of that particular field.
- You are not able to go through the tasks personally.
As long as making virtual strategic partnership is concerned, it is based on the business requirement and the set goals. Here is one Example, if one business entity is engaged in giving client services. Wherein, the other business entity requires virtual assistance for data entry or financial work. In such a condition, business entities can be Virtual Strategic Partner while ensuring to achieve the organizational goals in the best way possible.
Benefits of Virtual Strategic Partnership for startups and small business:
The Virtual Strategic Partnership is time savers for business in the growth phase. Such business can get into the Virtual Strategic Partnership for administrative tasks without having a need to hire a full-time employee. Hiring a virtual assistant also helps to improve productivity and generate work-life balance.
The field in which virtual assistants deal is not only administrative tasks but order processing, customer support, bookkeeping, social media, web design and development, email management, marketing management.
Dealing with Virtual Employee/assistant
Any Virtual Assistant will work like a telecommuting employee. Though there will be a requirement to provide supervision for the tasks assigned. Which also includes finding many virtual assistants and making the best choice among them.
A long term relationship with the same virtual assistant would work wonders as it builds trust over a period of time among the business entities and helps to improve the work process. One can provide honest feedbacks to the virtual assistant.
The Virtual Strategic Partnership is the most increasingly growing trend. It can be maintained if the companies treat the Virtual Employees just like any other employee in the office. As they reduce the work load so that you can focus on more important and required things. It is necessary to take care of the Virtual Assistants just like a normal employee.
Author – Agniswar Banerjee, Global Business Development Lead at Tasksbay