This is #4 of 4. Outsourcing or delegating tasks to a virtual team can do wonders for business owners, ministry leaders and marketplace prophets. I should know – I’ve used virtual assistants and virtual teams in my business since 2005. Whenever I do, my business has grown ten-fold because I operate in my strengths and outsource my weaknesses.

I was going to call this series Outsourcing Myths Revealed or Little Lies Ministry Leaders & Business Owners Tell Themselves About Outsourcing (feel free to use either titles), but both titles force me to focus on lack.

Since I operate best when I focus on abundance, I chose the title Why Every Business or Ministry Must Have a Virtual Team for this series. A special thanks to Tina Forsyth and her special report The Top Five Reasons Every Business Must Have an Online Business Manager for influencing this series.

So, here’s Reason #4 of 4…

#4 – A Virtual Team Helps You Make Money (Not Cost Money)

The biggest reason why most don’t hire a virtual team is the money. I often hear:

“A virtual team will cost me TONS of money – money that I just don’t have.”

If a virtual team is costing you money, you have hired the wrong team. Because in my experience, a virtual team should be making you money, not costing you money.

Members in the Faithfully Rich Inner Circle worked through an exercise where they had to calculate how much an hour of their time is worth. I didn’t ask them to calculate what they’re worth (read this blog post as to why this is the wrong mindset). Instead, you need to understand how much an hour of your time is worth in terms of money.

When you understand this number, you’ll soon see that it’s better to outsource the tasks that do not help you make fabulous money, than to waste your time doing these tasks on your own.

Let’s bring this up to the 5,000 foot level…

I spoke to a client recently and she shared that she was getting ready to launch a program. She said that there was a delay. When I asked what was preventing her from getting it done, she said something about “getting out to network and connect with people.”

There was a disconnect. So, I probed deeper. After asking a few more questions, she revealed that she needed to get the website done to support the launch of her new program.

After asking how she’ll get the website done, she said that she’s going to dust off the materials from a training program she bought a year earlier on how to install and configure WordPress. I asked if that’s a good use of her time and she replied saying that it was because she already invested in the website training program.

So, here’s what I asked (trying my best not to reveal my own bias):

“Which would make better money for you – spending 2-3 hours configuring WordPress and designing a logo for your program or spending that same time speaking in front of an audience and walking out of the room with a few thousand dollars worth of product sales?”

Her response? “Oh, I get it now!”

You Should Delegate What Would Take $12, $20 or $45 per Hour to Do So You Can Focus on the Things That’ll Make You $120, $200 or $400 an Hour in Revenue

That’s the simple math. If the things you should never delegate help you make hundreds of dollars an hour, you should then delegate the tasks where you pay multiple $10 to complete.

For example, speaking is one of the tasks that you should never delegate.

If your speaking rate is $5,000, then you can delegate some of the administrative tasks to your virtual team. Let’s just say you paid your virtual team $45 an hour and it took them 10-hours to:

• follow-up with the event planner
• book your flight/hotel
• order your book/product from your publisher and ship it to the location where you’ll be speaking
• and complete the handouts/slides to support your presentation

Your virtual team could focus on those things to free you up to research your topic, design your speech, then practice it a few times. Because you delegated 10-hours of work to your virtual team, you still make $4,550 (that’s your speaking fee of $5,000 – $450 the cost of your virtual team per hour rate x 10-hours).

This becomes utterly a no-brainer and proves that hiring a virtual team should make you money – not cost you money.

What’s next?

Join me on Wednesday July 17, 2013 at 12pm Eastern for a live webinar where you’ll learn how to:

Create Your Faithfully Rich Team: How to Outsource the Tasks You Hate for as Little as $12/hour So You Can Focus on the Message God Has Called You to Share

In this 75-minute webinar, you’ll learn:

• What a Faithfully Rich Team is and how you can use one to free up your time and bring more joy to your ministry or business
• How to find a Faithfully Rich Team without writing up a job description or posting your request on a freelance website
• The 7 things you should never outsource and what you should delegate instead
• The 7 mindset shifts you need to make so you finally outsource the tasks you hate for good
• The 5 ways you’ll know that you’re ready to hire a virtual team
• How a virtual assistant, sales coach and marketing mentor have used a virtual team to help them increase profits and decrease stress (you’ll hear their case studies in this session)
• And details about my **BRAND NEW** program where you’ll get access to the virtual team who helps me in my business for as little as $12/hour.This is NOT another information product. You’re busy and you don’t need to add more training to your already packed calendar. Instead, you’ll get complete access to the project manager and the team I use to get things done. They are eagerly awaiting your projects and I’m happy to share my virtual team with you.

To access this webinar, just head on over to the Faithfully Rich Live page at the date and time of this webinar.