I Can’t Afford an Online Business Manager! I hear this A LOT when speaking with potential clients. In fact, if I had a dime for every time I’ve heard this, I could change career paths and let that be my source of income. The truth of the matter is, you can’t afford NOT to. Let’s face it, many of us as business owners and entrepreneurs can be in over our heads! We LOVE what we do and making money doing it… that’s just an added bonus, right? We know what we’re doing, we know the goals we have set for ourselves, we know where we want to be in the next five years. We know our stuff! But knowing your stuff and running the back end of your business is two different things.
You’ll start to realize that the administrative tasks, project management, automating tasks, creating and implementing smart systems, managing your team, and making sure that the business operations is running smoothing are extremely time-consuming. BUT, these are all very important aspects of your business and cannot be skipped because these things keep the business running. Now here’s the sucky part, we find ourselves bogged down with these things that we don’t have time to actually “work” and “grow” our business.
We’re keeping busy but not being productive – and believe me, there is a difference! Next thing you know, your day is over, you’re too tired for anything else and you lay there in bed thinking, “I need more time!” We’ve all heard that saying, there’s not enough hours in the day, right? Well, that’s not necessarily true. If you use your time wisely, there’s plenty of time.
Still think you can’t afford an Online Business Manager? Is any of this hitting home for you? If you’re a business owner, heck yeah it is!
So, how much does an Online Business Manager charge?
That really depends on every individual OBM. No one size fits all.
Have they done this before? Many OBM’s come from a corporate-type background and have done this over 10+ years. Those OBM’s generally charge the bigger bucks. Then you have OBM’s fresh out of college, switching careers or just want to freelance on the side. They may charge less just to get the experience and get their feet in the door.
What do you need help with? Is it more along the lines of project management, launch management, business operations, team management, or even metrics management? Oftentimes, OBM’s charge different rates for different types of services, so keep that in mind when you are submitting RFPs (Request for Proposals) and evaluating rates.
In general, most online business managers charge starting at $65+ per hour.
Use this, only as a guide when you’re evaluating whether an online business manager is worth the price they’re asking for.
Online business managers can offer one or more of the following:
- Hourly Rates
- Monthly Retainer Packages
Now back to that million-dollar phrase, “I Can’t Afford an Online Business Manager” or “This is way outside my budget.”
Let’s keep it real here, hiring help is an investment and you need to think of it that way. It’s a new line item in your budget and new expense to account for. You’re not throwing money away on some new shoes or the latest electronic item. You’re investing with the intent on receiving a return on that investment.
So for some, you might have to forego that bottle of Moscato with every dinner for the sake of your investment. Okay, maybe that was going too far – let’s calm down! Maybe a new pair of shoes. Sometimes you even have to dip into your savings or take out a loan. Not highly recommended, but again, you’re investing in something greater so you expect to make that back ten-fold.
This is why “help” is something people pay for. Nannies, lawn care, meal delivery services, and yes, online business managers. We’re all here to help make your life better (while making ours great, too!).
If you break it down, most people don’t make enough money in their business, because they don’t have enough time to dedicate (or they treat it as a hobby), they lack some important skill or knowledge that would help them get to the next level, or they just don’t want to invest in it.
Everyone can afford to get started with an OBM, even those that don’t think they can. OBM’s come at all price points and all experience levels and it’s up to you to work out what you need. Do you need the cheapest person you can find that’s “just good enough” to work as many hours as you can afford, or do you need a very specialized person?
Remember, if an online business manager sends you a proposal for services that is above your budget, it’s always within your right to negotiate… within reason, of course. Don’t rush to say “No” just because the price freaks you out. If you really like the OBM and what they have to offer but the budget doesn’t match, you can always talk it out. I am not saying to ask the OBM to lower their rates because let’s face it, that’s a slap in the face. Never be offensive or insulting, they need to live too. After all, would you ask a plumber or mechanic to drop their prices because they’re not within your budget? Not at all, so instead, maybe use less hours or delete some of the services included, for now. You never know, unless you ask.
The same truth holds for an online business manager as well. It is always within their right to say no. If you can’t come up with an agreement that works for the both of you, that is okay too. You can find any sort of OBM for any rate you want.
Just remember: You always get what you pay for.
Your business needs a Visionary and an Integrator to be successful, and you can’t be both for long and sustainable growth. As the Visionary, you need an Integrator to implement and drive your vision, and your Integrator needs you to lead the company’s direction and strategize its future.
Ultimately, the OBM’s main goal is to take over the daily operations of an online business to ‘free up’ the business owner. This means you can concentrate on being a visionary leader, rather than hustling all day over the small stuff.
Once you change your mindset from not being able to afford an OBM to you can’t afford NOT to hire an OBM, you will allow your business the freedom it needs to grow!
To learn more about how an Online Business Manager can help you manage your business, contact us today.