Last Updated on September 13, 2023
For some time now, the global economy has appeared like everlasting sunshine. However, post-Covid, war has broken out in Europe, and fears have emerged of a Third World War looming. Things are about to change, and the sun could be setting − soon. Nonetheless, remote virtual assistant services are starting to increase in popularity.
The disharmony of the American dream
Inflation in the US hit a 40-year high of 8.6%. The reality is that a recession is predicted for the United States. Such an event will flow over to other countries, hitting developing countries the hardest. The stock markets in the United States have spun around, revealing a bear market. Virtual capitalists have already started to tighten their belts. As such, start-ups are struggling, and cryptocurrency is also struggling, dropping to 80% from its high. Although it is tempting to speculate, in a booming market, this approach works; in a bear market, the risk increases.
The reality of the economy
Investors, such as the founder of Celsius, are speculating and losing. The crypto market has lost $40bn of its value; therefore, a new approach is needed. Elon Musk recently reminded folks that an economy is the sum of innovation and production; the economy is not based on monetary supply. More so, the financial markets, as well as the monetary value, do not directly add up to an economy at all. As such, the economy is not cash; it is consumption and production. Yet, for a great deal of time, individuals have been deceived with idealistic ideas based on the surplus of freshly minted cash.
A glimmer of hope – Remote (Virtual) Assistant Services
Even with the shenanigans of the rich making the headlines, small and medium businesses are at high risk. These business owners must now apply a strategy that can help them weather the looming storm, coming out stronger than before. These owners should therefore innovate and apply alternative staffing solutions to dramatically cut their business expenses. The goal here is to reduce any funds being wasted. It is with that in mind that business owners are turning towards remote or virtual assistant services.
Defining – Remote (Virtual) Assistant Services
The core element in remote or virtual assistant services is the use of a virtual assistant or VA. This is a consultant who works remotely, assisting a business or entrepreneur with specific tasks. These tasks can differ depending on the owner’s needs. For instance, the tasks can be back-office tasks such as admin work; or more specific tasks, such as graphic design or software development. What is key is that a remote assistant is not employed under similar terms as a staff member of the company. Nevertheless, the remote worker ably assists the business in their consultant role.
The benefits of remote (virtual) assistant services
With the music having stopped and people needing to return to work to rebuild the economy, a virtual assistant is the best asset of any business. A virtual assistant can save a business a massive amount on their business expenses. The company’s funds can thus be stretched more thinly even in a difficult economic market.
When businesses are preparing for a recession, in order to cut their costs and increase their efficiencies, a virtual assistant provides a good alternative. A virtual assistant can take over low-level tasks so that managers and business owners can focus on better positioning the business and presenting innovation to beat the competition.
Additionally, with downtimes, a staffing solution that is flexible will undoubtedly be beneficial. Here, outsourcing and using a global staffing solution can help to save money while accomplishing much more for the business. More so, the business is able to source great talent for anything from 40% to 70% less than would be spent on a full-time onsite employee. Also, as the conditions change, the business can either hire more remote assistants or off-board such a person, if necessary.
A retrospective look at 2008
Outsourcing is nothing new. Looking back at the economic crisis in 2008, large international companies such as Apple, IBM, and Cisco opted for outsourcing, which helped them survive, even though there was skepticism that this would work out. Yet, one in three of Apple’s engineers is working remotely as an outsourced worker. Apple’s manufacturing division is, in fact, located in China. Also, Cisco downsized during 2008 by outsourcing some of its functions.
Recession or no recession – outsourcing can take your business to the next level.
More than just weathering the recession storm, outsourcing can upgrade your business. It must be said that being recession-proof does give you a safety net you can’t ignore. Therefore, hiring the right remote or virtual assistant is key; however, knowing what type of virtual assistant you want can be somewhat overwhelming. For this reason, using an outsourcing service will make this process easier.
How Aristo Sourcing can help
Aristo Sourcing has been assisting companies in sourcing great, high-quality virtual assistants. We seek and find the best candidates for companies. Our smooth process is ensured by our four-point procedure. To assist you, Aristo Sourcing offers a complimentary discovery call in which business owners and managers can discuss with us their unique needs. Plus, our outsourcing expert, with more than a decade of experience, can provide common-sense advice that will help you to make the best choice for your business. You can book your call today and start the process of recession-proofing your business.