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Tips on Managing a Virtual Business

Published on Wednesday, December 16th 2020 | Updated a year ago
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Milad ZolfaghariCFO, Wesat

The sudden shift into remote working conditions means that thousands if not millions of people must rethink how to manage their work, their current and future clients. By now we can all agree that virtual businesses are here to stay. It was already on the rise before the pandemic and then once it hit, the “work from home” virtual business concept was skyrocketed in its adoption. As business owners, freelancers, and even corporate employees, we have to learn how best to adapt to the new landscape and fully take advantage of all the tools and resources out there to help run a successful business from home. We have put together a list of our top tips to help you on your way.

Strategy 
Having a strategy in place for what you want to accomplish gives you an outline of success. It’s one thing to set a goal for your business, but knowing how you plan on achieving that goal is even more critical to reaching that goal. For example, you decided you want to double your revenue for the next year so you’ll need to know how you are going to achieve that. Setting a strategy for that would be something like, creating promotions to entice more customers to purchase your product or use a platform that makes it easier to reach out to your prospective clients that will, in turn, become paying customers, we’ll go over some tools that can help with this later.

Building an Online Presence
To run a virtual business you have to have an online presence. Simply having a website isn’t going to be enough when there are so many other websites out there. Your target market needs to know you are there on the web, so you are not forgotten. To help build a presence you should invest some time building your social media sites like Facebook, Instagram, and even Twitter. The key here is to be consistent with quality content that benefits your followers and be available so your customers can reach out to you.

Business Tools
You and your employees need a centralized place to share and store important files, work collaboratively, manage your clients, and even process your payments. Platforms like Google G Suite and Office 365 make most of these very easy for sharing, storing, and working together on projects.

When it comes to client management tools and payment processing there are many out there, but one we would recommend is called Wesat.io. Wesat offers both a client management platform, but also payment processing. Tasks like creating and sending invoices can be done in a matter of several minutes and the best part is that it’s free. You can manage your projects, send out contracts, questionnaires and even automate repetitive work so you can spend less time doing business admin work, and put more time into your craft.

Social media tools such as Hootsuite make managing your online presence easy. It allows for scheduling posts in advance, so you have new content flowing out to your followers regularly. You can even measure the impact that your social media campaigns are having because Hootsuite stores all your accounts' KPI’s in one place.

Video Conference
If your business consists of you as the sole employee then you won’t need to worry about this but most businesses tend to evolve so one day it might not just be you! Keep track of goals by scheduling in a weekly department meeting or maybe some one-to-one meetings. Get to know individuals' strengths and weaknesses and discuss any hiccups or achievements.
It's easier to build trust and maintain relationships when you have a face to put to a name and thanks to technology we can video call anyone from anywhere with a wifi connection so this shouldn’t be difficult for you or your employees. We recommend Google HangoutSkypeZoom, or FaceTime.

Here you have it, our top tips to help keep your virtual business flourishing. With hard work, the right tools, and persistence, your business will succeed.