The Ultimate Guide To Hiring & Working With An Online Business Manager (OBM)
Starting an online business might seem like a piece of cake, but it's not. It's more than having a great product or service. You have to think about marketing, customer service, financial matters, and managing a team.
When you first had the idea of starting your own business, you probably didn't realize there would be so much to do. It is not for the faint of heart. In fact...
"20% of new businesses close within a year"
This is according to data from the Bureau of Labor Statistics
Luckily, you can seek the help of operations experts whose job is to worry about the minutiae of running your business to ensure its growth and stability.
That's where an Online Business Manager (OBM) comes in.
What's an Online Business Manager (OBM)?
A new role tailored to modern entrepreneurs. An OBM is a virtually-based support professional who manages all aspects of your online business, from day-to-day operations to hiring, and project management to team coordination. They specialize in working with businesses in the growth and scaleup phase and act as a liaison between the business owners and the rest of the company - comparable to the work of an Operations Manager or COO in the traditional business world.
Think of them as your right-hand person, your second in command.
Having an OBM in your corner means you can focus on making your business bigger and better.
Want a deep dive on this topic? We break everything down for you in one of our previous blog - The Online Business Manager: Everything You Need To Know.
OBM vs VA
You might be thinking, "Well, isn't that the same as a Virtual Assistant (VA) does?" Not quite!
An OBM does way more than a VA. While VAs handle specific tasks assigned to them, OBMs oversee everything in your business and dedicate themselves to ensuring its success. They're your strategic partners who can help your business scale.
Here's a side-by-side comparison of what VAs and OBMs do:
While both roles have a place in your business, hiring for the right role based on your needs is crucial.
To sum it up, if your startup is in its early stages and you have a lot to do, getting a Virtual Assistant (VA) to share the work is a smart decision. But, if you're overwhelmed by the responsibility of running your business and it's slowing down your growth, an Online Business Manager (OBM) can take over the business operations. This allows you to focus on expanding your business.
Are you feeling a little overwhelmed trying to decide between hiring a VA or an OBM? Or maybe you need both? Don't fret! We’ve designed a fun and quick quiz that can help pinpoint your hiring needs. Take the quiz here!
What Does an OBM Do?
The main job of an OBM is to handle the day-to-day operations of your business. This includes:
Strategic planning
Operations Management
Project Management
Process Improvement
Team Management
They also establish and oversee systems. They monitor metrics and KPIs. They demonstrate communication and leadership skills on a daily basis.
An OBM takes care of all the little details in your business, as well as short-term and long-term planning.
They lead your team
They establish a positive and productive work environment
They improve your systems' efficiency
They ensure projects align with your goals.
This means you can focus on the big picture instead of worrying about daily tasks! Perhaps even achieve that work-life balance you've been dreaming of!
Photo by Brooke Cagle on Unsplash
What Makes a Great OBM?
A successful OBM has many great qualities and skills. These include strong leadership, good communication, and attention to detail. They have a good understanding of online businesses and use data to make decisions. Additionally, they excel at managing projects.
They have the skills that business owners need to step back from the day-to-day operations and focus on the big picture.
How Much Does an OBM Cost?
OBMs usually charge a monthly fee or per project. The cost can vary depending on how complex your business is and what expertise you need. The range is usually $50 to $100+ per hour depending on the OBM's years of experience and expertise.
A Day in the Life of an OBM
The life of an OBM is busy. They oversee projects, guide team members, communicate daily, troubleshoot and solve problems in real-time, and streamline processes. Their goal is to remove any roadblocks so your business can succeed.
Who Can Benefit from an OBM?
Any online business that needs someone to manage operations can benefit from an OBM. This includes e-commerce stores, coaching services, consulting firms, and digital marketing agencies.
When to Hire an OBM
Knowing when to hire an OBM can be a challenge. Hiring one too soon may not provide enough work for them and may become a strain on your budget. Hiring too late can be disastrous if your business is already beginning to fail.
Here are a few signs that now may be the right time to hire an OBM.
Your income has plateaued and you need help rising to the next level of success.
You want to be the visionary, not the worker bee.
A busy schedule forces you to decline opportunities.
If you're still on the fence about hiring an OBM, check out our free guide, "10 Signs You Need an OBM" and find out if an OBM is right for you, right now.
How to Hire an OBM
When hiring an OBM, look at their experience, skills, and whether they're a good fit for your business. An interview or trial period can help you decide if they're the right person for the job.
While virtual assistants have been around for 20 years or more, online business
managers are fairly new to the playing field.
The best place to look for an OBM is in your own inner circle. Have you been working with a VA for a long time? Do you feel they would make a good OBM? If so, you might approach them with the offer.
Other ways to hire an OBM:
Ask your colleagues, JV partners, and those you network with if they have any recommendations.
Go to the source! Check out the International Association of Online Business Managers (IAOBM), the organization that started it all, and use their Directory to find Certified OBMs.
Try job marketplaces like Upwork. Being one of the largest freelance marketplaces with over 12 million freelancers, your chances of finding an experienced OBM are pretty good.
Ready to start hiring your very own OBM? Hiring an OBM is a big decision so we've done all the leg work and put together a complete guide to hiring an OBM. Check out Freedom With An OBM - Your Definitive Guide for Hiring An Online Business Manager (OBM).
Remember, your OBM will play a key role in helping your business grow so focus on finding the “right” OBM for you and your business.
If you're feeling overwhelmed, an OBM can help. They can reduce your stress and help you grow your online business effectively. So stop juggling everything yourself and start growing with the help of an Online Business Manager!
