" Why should a company hire an employee when they can outsource the work for you? Offer your word processing clients, Web services, proofreading, bookkeeping and more support services to businesses."
Secretary of yesteryear need to know how to take a shortcut, type and answer the phone. Secretary takes dictation today using a tape recorder and transcription equipment; instead of just writing, she enters data into a computer; and the desk phone, it uses is actually a complex communications center.
What we now call services industry support companies have experienced a similar and perhaps even more remarkable evolution. It started out as secretarial services and typing and typing was about all they did. But these operations have gone the way of the horse and buggy, substituted by savvy entrepreneurs to modern technology who want to enjoy a virtually unlimited market.
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Although the term "service secretary" has a high degree of consumer recognition is no longer an adequate description of the industry. When typing and transcription (historically typical secretarial services) remain one of the pillars, consumers often do not think of a secretarial service providing desktop publishing, design spreadsheet-related services Internet and other packet products and sophisticated services. The term "support business services" does a much better job of conveying what the industry has to do with today and to still have some flexibility for changes that may occur in the future. You will also hear terms like "administrative support" and "office support services" applied to this sector.
In 1998, the National Association of Secretarial Services changed its name to the Association of international support. Executive Director Lynette Smith said: "We believe that the" support services to companies "have done a better job '' secretarial services to cover the field of services to its members and bringing more respectability to the profession."
Of course, the size of the market for support services to businesses is difficult to estimate for a number of reasons - mainly due to the US Census Bureau mix business with other support services to businesses. In addition, suppliers, services and clients are constantly changing technological advances. The secretariat of the 1960s and 1970s, when a good electric typewriter was about all I needed, it would take off today. And who knows what technology will be able to do 20 or 30 years from now?
The sky is the limit
To understand the future potential, take a look at how the industry has evolved. Throughout the 20th century, the administrative requirements of doing business have increased dramatically, creating the need for administrative and secretarial support. With the advent of desktop computers and office equipment more sophisticated, the requirements of training and knowledge of the secretaries have also increased.
At the same time, the general business landscape has changed dramatically. Large companies are looking for ways to streamline operations, and a popular option is outsourcing, which retain other undertaking to provide a service that can traditionally done by employees. Small businesses want to stay lean and profitable, so they are turning to outsourcing, rather than grow their payroll.
Combine the obvious need with the new mode in the business world, and you have a young and dynamic industry with the possibility off: support services to businesses. In fact, there are so many opportunities if you have a clear plan, specific services and target market, your chances of success are slim. But with much thought and preparation, and a minimum amount of money, you can quickly be on the road to profitability.
Types of services
You can offer a wide range of services. The following list includes what we find on the market, but is far from exhaustive. Some of these services may be companies themselves; others are ancillary to a principal service. Listen to your customers; I'll let you know what they need and then you can decide if you can provide.
word processing
tape transcription
Phone in dictation
edition
spreadsheet design
College papers and reports
for reception
Shipping and Receiving
Packing and Shipping
List Management / PO database
Accounting, billing audit and preparation
resume preparation
proofreading
Print intermediation
Fax send and receive
photocopier
notary
Internet search
Web design and maintenance
Event organization
consultant
training
target market
You have three major markets for support services to business enterprises: the general public; small businesses and home businesses; and large enterprises.
General Public. By "public" we refer to individual customers that are not businesses. The two most important segments of this market are the people who need recovery preparation and colleges.
A job hunter to create or update your resume can actually write the document and take you for designing and printing; he or she may need help writing content too. While the unemployment rate is low, the curriculum of the market is important because people do not have to be unemployed need a resume.
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There are thousands of colleges in the United States with a collective workforce of millions of students. Although many students prepare reports and documents themselves, many of them will become a professional company word processing to this important market.
Students working on particularly long documents such as theses or briefs, are good candidates for their service. And of course, once they graduate, they can come back to you to help with their resume.
In addition to the students, the university community can also be a source of business (think teachers who need word processing, editing and proofreading of his books and articles).
Small Business. It is likely that most of their clients are included in this category. These are companies that require administrative and secretarial support but do not have the money, space or the need for a full-time employee. Or you may prefer to outsource specific tasks instead of investing in the skills and equipment needed to do the job. And the hiring of temporary employees can be more expensive as demand needs of small businesses.
As the number of small businesses continues to grow, so does its potential market. And the list of services that use is limited only by your imagination and your personal preferences. As you develop relationships with small business, you will be able to make suggestions that will increase the volume - or even expand the scope - the work you do for them.
Generally, small businesses are turning to the support services business enterprises word processing, fax, photocopying, mailing, electronic publishing, managing mailing lists, dictation and transcription.
Large companies. Even very large operations with full-time secretaries and administrative assistants may be candidates for their services. If a company has a temporary situation where they have more work than they can handle in-house, they can come to you to choose the overload. Or as small companies above, you may prefer to outsource special projects instead of hiring temporary workers. This is a smart decision because hiring temporary employees means train and provide a well-equipped workstation. Submission of papers it eliminates the hassle and cost.
Large companies also use support services to companies when their own employees are available due to vacation or illness. They may not really need a "temp", ie someone to come and be present in the office, but they may need someone who can manage all or part of the work the absent employee.
Finding a niche
It's a good idea to choose one or more target groups of key market. There are a number of very good reasons to choose a well-defined niche market. By targeting a specific market segment, you can customize your menu service, marketing efforts and customer service system to meet the needs of this segment. You can refine your marketing efforts and gain a reputation in the industry for its expertise in certain areas - which means you may pay more. Think about it: In the field of medicine, who earns more - a family physician or neurosurgeon? The neurosurgeon, of course, because he is a specialist, and development requires more skill. Some niche markets that might be considered include:
Other support services to businesses. Allow existing business owners know that you are available for overflow or working on a contract basis. Expect to have to sign agreements of confidentiality and non-competition, but to ensure that these contractual limits be avoided only direct service to customers whose work they actually do marketing. You may have to update your rates so they can make a profit, but sales and marketing costs will be minimal, offsetting the discount; However, make sure that you are compensated for rush jobs.
Occupations or industries. If you have experience in a specific field, you can head to your field service. Two of the most common are the legal and medical fields, including the transcription of these groups because they have to learn a long list of specific conditions and format requirements. Or you can contact professional sellers, manufacturers' representatives, who work from home and need occasional administrative support. Chicago Joann V. focuses on the insurance industry, and Cindy P. Irvine, California, manages the legal field.
The geographical areas. If you are in a densely populated area, maybe an office downtown or light industrial park, you can choose your market by geography. Determine its parameters, and then sell to companies within its service area, focusing on the convenience of using their service.
Academic. If you are near a college or university, you can use several related academic niches, including students, teachers and even administrators.
Startup costs
A service companies to support the industry's most attractive aspects is the cost of relatively low start. If you have a decent credit rating, you can be ready to start serving clients with virtually no pocket money - but it will definitely be on firmer ground if you have a little initial capital.
Most support services to businesses of the companies we spoke to used their own savings and personal computers that had to start their business. Because the initial costs are relatively low, find difficult to obtain traditional financing - banks and other lenders prefer to pay much larger quantities than you need and may be able to qualify.
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Many traders start their business on the side while full-time jobs work, so that personal expenses are covered. But if you dive into your new business full-time from the start, make sure you have enough money to cover your expenses until revenue begins to come. At a minimum, you must have the equivalent of three months of expenses in a savings account to take advantage if necessary; may sleep better if you have six to 12 months of expenses socked away.
Charlene D. Winter Park, Florida, has decided to invest in a new computer and printer, and says it has spent about $ 3,500 for equipment and supplies to start. Perrysburg, Ohio Rachelle Y. used his old PC 486 to develop your business plan and a booklet, but decided to buy a new system before it actually started its operation. "I wanted to be able to offer everything I could," she said. "In this area, the team is your best friend. So I bought a new computer and printer, paper, and some other junk. I probably spent between $ 3,000 and $ 4,000 at the beginning. "
Irvine, California Cindy P. paid $ 10,000 to buy an existing business; the price including client lists and rental office, but no furniture or equipment. He spent another $ 4,000 in initial purchases of equipment and has added over the years.
Joann V. started his business in Chicago before the days of the PC. "At first, all I wanted was a typewriter," she said. "I bought a machine electronic writing for $ 500 and paper, and someone gave me a unit transcript that was it - .. that's all I needed to start "in Edmond, Oklahoma, Janet S. said because it was already own a computer machine, printer and voice, the initial costs were "almost zero."
When considering their own situation, do not pull on a number of departure in the air; use your business plan to calculate the amount you need to start your ideal operation and then calculate how much you have. If you have all the money you need, you are very lucky. Otherwise, you must start playing with the numbers and decide what you can do without.
operations
As the operator of solo, expect to spend at least a quarter of their time to the overall management of the business and administration, marketing, purchasing and invoicing. The bigger your business, the more people there, spend more time managing instead of actually doing the work yourself. With four employees, Irvine, California Cindy P. spends very little time to work on projects for clients. Business and Joann V. Chicago did nothing of himself in the transcript years - he has a team of five full-time employees in the office and about 50 part-time transcriptionists who work from their homes.
No matter how small or large your business is, it is essential not to overlook the administrator. It will not do much good if you do the work, but never get around to send invoices so you can get paid. Poorly maintained records can get you in trouble with the IRS and other government agencies. And if you're not marketing on a regular basis, your business will eventually dry.
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Operating a business support service requires a lot of energy. Help if you like people, but it is also able to work alone or in small groups. Must be able to juggle multiple projects simultaneously, provided that each customer feel like he or she is most important to you.
location
When it comes to the actual location of your business, you have two options: a home or commercial premises. A support services to businesses of the companies can be a great success in one of these places; Your decision will depend on its resources and individual goals.
In considering the location, keep a few things in mind. Depending on the specific services you offer and your target market, possibly you both with the general public, who have access to your office, with small business owners and managers in large companies as you can visit your facility or their employees or mail to pick up and deliver the work.
In any business, but especially in this one, a professional image is essential to success. Operations at home are widely accepted in the world of business today (in fact, many customers prefer to deal with suppliers based at home because they have less overhead and can charge less), but you still have to present the appearance of being a serious business, even if you choose to work from home. And if you opt for a store, make sure it is one that is compatible with its objectives.
In the mid-1990s, about half the members of the Association of Support Services International Trade (Abssi) were at home; by the turn of the century, an estimated 70 percent were operations of a person at home. "Many of our member offices simplify their lives move to a place of residence prior to starting," says Lynette Smith, executive director of Abssi. "They recognize that a business at home is no longer the exception but the norm. In the perception of customers, it is no longer a stigma associated with being homebased."
. While admitting that operate from your home can be difficult growth, Smith said, "At home, you can not extend through the traditional means of hiring However, it is more realistic to outsource work - especially transcription - for others, so there is still a significant profit potential expect to reproduce the efforts of one of this ".
Revenue and Billing
You have a number of options when it comes to deciding on their approach to pricing. Some operators simply call around, find out what other companies are charging and set their prices in this range. Others decide what they want to win and set their prices based on that, regardless of how it relates to competition. Then there is the issue price of the page or time project.
The best approach is a multifaceted given the level of work, its goals of profit and Skills market. It is necessary to establish a system that provides a structure to work in what can offer consistent prices, reasonable and fair.
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Multiple hourly rates
If you pay on time, note that different rates should be applied depending on the complexity of the service level and the required competence. For example, varies hourly rate of $ 28 Cindy P. right word processor up to $ 40 for the complex electronic edition. The Association of International Support Services suggests a structure similar to the following:
Level 1 (lowest hourly rate): basic word processing, routine administrative services, simple proofreading
Level 2: Improved word processing, proofreading, design basic spreadsheet, Internet research
Level 3: desktop publishing, design spreadsheet, simple website design, simple maintenance of the website
Level 4: Graphic design, writing (academics, businesses, CV, techniques), web design, website maintenance
Level 5 (the highest price per hour): Consultancy, Training
Note that the same basic task may fall into more than one price level, and you have to do based on the particular project in terms of the applicable test rates.
Power Hour
When the Association of support services to international businesses surveyed its members, it was found that the hourly rate varies for the most popular services offered by respondents were:
Basic Word Processing - $ 7-40
Forgot Enhanced Processing - $ 7-50
Proofreading - $ 7-75
Fact Sheet - $ 18-50
Transcription in general - 15 to $ 45
Consulting / Training - $ 7-90
Design Spreadsheet - $ 15-75
DTP - $ 7-75
Graphic Design - $ 14-100
Computers - $ 20-150
Internet search - $ 7-75
The estimated employment
Many new business owners are considering one of the hardest things to do, but if you approach the systematic process is simple. Simply determine an appropriate time fee, calculate the length of time the project should take, and do the math.
Whatever the format used to provide the quote (written or verbal), it is a good idea to take notes for you so that you know what you quote and how it arrived at that figure. This will be necessary if the current project proves to be different from what is described in the client, or the client questions the bill later, even if they agreed with the quote. You can even create a budget form can provide the client and keep a copy for your records.
marketing
Marketing is an area where your creative side can shine. This is something that many people do not like to do, but it is essential if you are going to build a successful and profitable business.
Do not be discouraged if your marketing efforts do not produce an immediate response. It is rare that someone is going to need your services at the right time when contact with them, but if you put together an attractive professional package, information, keep the information on file and call you when they need you - or'll refer you to a colleague who may have a need. It is not unusual for a sales contact not generate a response for months - or even a year.
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You can find ways to create a marketing plan based here, but there are specific issues and ideas to support service companies you need to know as you develop your plan. For example, check with your local phone company to find an end date directory advertising and distribution and, if possible, plan to launch their business in time to be included. Your ad in the yellow pages will be an important source of new business, especially in the early days, so I get so distracted by other tasks start to miss this opportunity.
Another important point is to ensure that all marketing materials are professional and perfect words. Many support services to companies that are doing excellent work in this area for their clients often forget to do the same for themselves. Consider hiring a graphic designer and / or professional writer to help you with your marketing kit; You may be able to negotiate a compromise that benefits both.
References are essential
References will probably be a primary means of winning new customers, so it's a good idea to have a systematic approach to the process. You should be able to identify which references that end up becoming business so that you can grow and reward referral sources.
Complementary businesses are excellent sources of reference. For example, print and copy shops often have clients who need word processing or desktop publishing, but do not have the equipment, expertise or staff to manage these services.
Your reference settings can be configured to provide a cash payment for new businesses, or just have an arrangement where you and other business partners refer clients to another as needed.
Lynette Smith, executive director of the Association of international trade support services, typical referral fees are 10 percent for the first six to 12 months of operation of a new client; 15 percent of the first three months; or only 25 percent of the first transaction.
Of course, many references do not imply any compensation - satisfied customers will be happy to refer others to you because you are doing a good job. And you probably also get references from friends and associates. Charlene D. said a significant portion of its business in Winter Park, Florida, the company has come through referrals from people in his church. "Most of my clients over the years have been good members of the church or the people who have heard of me by members of the church or the church office," she said.
advertising
Advertising is a great way to attract new business, but the choice of effective media can take a bit of experimentation. Probably the best place to advertise in the local yellow pages, because that's where people look when they need a service and do not know who to call. Many communities have more than one phone book editor, so you may have to do some research to determine which directory (or directories) to bring your ad and ad.
Do not limit yourself to the directory. Bill H. in Iowa City, Iowa, he announced new radio and talk to local station, and although it may not be much specific new business for them, says your current customers do not agree and mentioned spots. "It was only $ 100 to $ 150 a month, and I imagine worth keeping alive my name with current customers," he said. Also placed ads in the section of the college newspaper classifieds and gets a good response from it.
In Chicago, Joann V. limit advertising to the yellow pages, newspaper, and a semi-direct mail campaign. It is used to buy a mailing list for your direct mail efforts, but found it was more effective to build your own list using the directory (using the categories listed price of your target market) and magazines (ad amortization of editorial perspectives mention) as a resource. "We sent a brochure and a Rolodex card with an introductory price, a toll-free," she said. "The Rolodex card is really useful, because if used immediately, usually hang of it. I have received calls from several years later.
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