As a business owner, you are most effective when you spend time on high-level tasks. But it’s not always possible to hire dedicated team members for all the day-to-day work involved in running your business.
That’s where Time Etc comes in. The company connects entrepreneurs with American virtual assistants to handle all that extra work. Read all about the company in this week’s Small Business Spotlight.
What does the company do?
Connects companies with virtual assistants.
Founder Barnaby Lashbrooke told Small Business Trends, “Our VAs can help with everything from emails and data entry to booking vacations and sending gifts and flowers to loved ones. Customers pay for a certain number of VA hours per month. are also increasingly using our service as an employee perk, giving employees dedicated VA time to help them better manage their work-life balance.”
Provide a quality experience.
Lashbrooke says: “We were one of the first virtual assistant companies, starting in 2007, long before remote working became fashionable. Over time, we have built a strong reputation as a supplier of the world’s best VAs, all with at least five years of experience, and personally vetted by Penni Pike, Sir Richard Branson’s executive assistant, who has been with the company for 32 years.It is the high quality of our assistants, as well as our easy-to-use platform, that sets us apart from competitors.”
How the company started
After running another successful business.
Lashbrooke explains, “I launched Time Etc with the money I made selling my first company when I was 24 years old. I had started that business (a web hosting company) when I was 17 and still in school. As I grew that business, I’d noticed how much of my time was spent on low-value tasks that I shouldn’t be wasting time on, but couldn’t avoid — things like billing and file organizing. So after my business was sold, I knew exactly what I wanted to try next.”
A successful launch in the US.
Lashbrooke says: “In 2013, I got bored one afternoon and decided to make a US version of our website and put it on the web to see if we had any buyers. And we literally never looked back. Almost immediately we were oversubscribed. by the US demand. And this breakthrough changed the course of history for our company forever. The US side of our business is now 80% of our revenue.”
Sign a lease and hire before bringing in any income.
Lashbrooke explains: “If things had gone wrong, we would have had to fire those people and pay huge sums to cancel the lease or try to re-let the building. Looking back, it was a foolish risk to take. But it also meant that I just HAD to make Time Etc work as a company, because I depended on it so much. I think that pressure really helped us build revenue. And looking back, I am amazed that we achieved £1 million (GBP) in revenue and were profitable in the second year, from a standing start with no VC funding.”
Hard work isn’t everything.
Lashbrooke adds: “From school, parents and teachers teach us that the harder we work, the more successful we will be. Now I know how wrong and dangerous that message is. Today I am combative about how I use my 35-hour work week. There is no room for wasting time or procrastination and every half hour is accounted for. I am happier and more fulfilled, have great relationships with family and friends and we are more successful financially too. In the first year I made this change, revenue grew 275%.”
How would they spend an extra $100,000?
Support the team.
Lashbrooke says, “I would return it to our team and assistant partners to help them with the ever-increasing cost of living.”
Lashbrooke explains, “We start each day with an ‘appreciation huddle’ where each member of the team chooses someone else to appreciate and has to explain why. This simple idea is the glue that holds the incredible culture we’ve built.”
“If you want to do a few small things well, do them yourself. If you want to do great things and make a big impact, learn to delegate.” —John C. Maxwell.
Image: Time etc., Barnaby Lashbrooke
This post Time Etc Helps Entrepreneurs Like Richard Branson Find Skilled VAs was original published at “https://smallbiztrends.com/2022/05/time-etc-helps-find-skilled-virtual-assistants.html”