Today we're diving into a game changing topic that could revolutionize the way you manage your business. Online business managers, or OBMs. I'll be answering the 10 most frequently asked questions about OBMs so you can determine if hiring one is the right move for you. Let's get started. Hi, I'm David Ziembicki, and you're about to learn how to grow from struggling solopreneur to successful virtual CEO of your own expert business.
Your knowledge and skills can change lives and make the world a better place. Are you ready to hit the accelerator to scale your results and impact? Then it's time to build your expert business. First things first, what exactly does an online business manager do and how can they help my business? Well, an OBM is a professional who oversees the daily operations, systems, and team management for an online business.
They help with strategic planning, goal setting, and implementation to ensure your business runs smoothly and grows steadily. In short, they're your second in command. So how do you know if your business is at the right stage to hire an OBM? If you're experiencing steady growth, feeling overwhelmed with day to day tasks, and need someone to help manage operations, your systems, and your team, then it's time to consider an OBM.
They'll free up your time, allowing you to focus on the core aspects of your business. Now let's talk about the differences between an OBM, a virtual assistant, and a project manager. An OBM focuses on high level strategy and management, overseeing projects and operations, and teams. A virtual assistant handles specific administrative tasks, and a project manager focuses mostly on planning, executing, and closing projects. an OBM help streamline my business processes?
They'll evaluate your existing systems, identify inefficiencies, and implement new strategies and tools to optimize productivity and organization. This will ensure a smooth running and efficient business operation. What should you look for when selecting the right OBM for your online business? Seek out experience in your industry, strong communication skills, expertise in project and team management, and a proactive, problem solving mindset.
It's essential to have a good rapport with the OBM, as they'll be an integral part of your business. Can an OBM help with managing your team, including hiring, training, and performance evaluations? Absolutely. They'll ensure the right people are in the right roles, provide guidance, and establish a positive work environment, enabling your team to perform at its best. Let's talk about the specific tasks an OBM can handle, and how they'll free up your time to focus on business growth.
They'll manage project coordination, team communication, systems implementation, and maintenance. Also, contractor and vendor management, budgeting, and tracking business metrics. With an OBM taking care of the day to day operations, you can focus on strategy and expanding your business. What's the typical cost of hiring an OBM, and how can I determine if it's a worthwhile investment?
The cost of hiring an OBM varies based on experience and location, but you can expect rates between 50 and 100 per hour, or a monthly retainer fee ranging from 1, 500 to 5, 000. There are also other options, like looking for a fractional team that includes an OBM as part of the team model. That's the primary option my agency provides when we deliver virtual teams to our clients.
In almost all cases, it's going to make sense to delegate the day to day operations and all of the tasks and management of your team to an OBM rather than you having to act as the project manager and, uh, you know, manage all of those tasks and all of those people on a day to day basis. How do I effectively communicate with and manage my OBM to ensure we're aligned with my business needs and objectives? Well, communication is key.
To effectively communicate with your OBM, establish regular check ins, use project management tools, and maintain open lines of communication. Clearly outline your expectations, goals, and timelines, and provide feedback to ensure alignment with your business objectives. Lastly, let's discuss some success stories of businesses that have significantly benefited from hiring an OBM.
These businesses have experienced increased revenue, improved team efficiency, streamlined operations, and successful project completion. With our solo to virtual CEO program and included OBM, our client Denae was able to build and launch a new flagship course in eight weeks that went on to generate over six figures in revenue in the first year. In the process, we also helped her grow her email list to over 30, 000 engaged followers.
Her feedback was that it was critical having the OBM role in her virtual team to enable her to get out of all of the day to day management of building sales funnels, creating email sequences, following up with people on social media. Instead, she was able to focus on the core that her business needed, which was podcast episodes to attract new people into her audience. And to record and deliver her courses and programs.
Everything else she was able to delegate to her OBM, who then orchestrated the team in getting created and built into her business. So there you have it, those were the 10 most frequently asked questions about online business managers. Hopefully this has given you a better understanding of the role and value of an OBM in your online business.
If you're feeling overwhelmed with daily tasks and need someone to manage your operations, systems, and team, an OBM might be just the solution you're looking for. Don't forget to like, comment, and subscribe for more great content to help you grow and scale your online business. And if you want to add an OBM to your business, even just part time, click the link below for more information.