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Virtual Assistant Transcription Services: Accuracy and Productivity Guaranteed

One of the fastest growing segments in the Virtual Assistant market is transcription services. Accuracy and precision are needed to ensure quality of work and services. This is especially true in the case of the medical and legal fields where flawed information could influence life or death situations. It is not enough to have information recorded; there have to be copies in black and white.

Transcription is the process of converting audio files into text files. Doctors and lawyers can either e-mail audio files or speak through software that automatically records, files and categorizes information. The audio files are stored in highly encrypted file sharing programs which can be accessed only by authorized transcribers.

It used to be that transcription services were done in-house due to the confidential nature of some of the files. Patients’ medical records for one are very confidential especially if the patient is influential. The same goes for legal information which could potentially jeopardize the position and strategies of the firm.

But in 2006, an enterprising virtual assistant by the name of Aretha Gaskin felt it was impossible to accurately oversee or manage all of the documents and administrative work required by a law firm. She started a virtual legal transcription company that managed the documentary and administrative needs of law firms in New York City.

Medical transcription work used to be done within the hospital. But soon, hospitals realized that it was more costly to maintain an in-house transcription team. The software programs were also expensive to maintain. A viable solution was simply to outsource medical transcription work to agencies that could guarantee accuracy, timely delivery and security.

Another branch of transcription is close caption work. This is basically sub- titling which you see in many cable network shows, film and videos. The purpose of sub- titling is to accommodate the needs of the hearing- impaired.

Other industries that have reached out to transcription service providers are business and education. Companies often have their meetings and seminars audio recorded while schools may allow students to record lectures.

Virtual assistants are very capable of providing accurate and timely transcription services. What qualities should you look for in a Virtual Assistant transcriber?

Excellent Level of English – While having a background in the field of study is important, it is more valuable to have excellent command of the English Language. The Virtual Assistant transcriber must have excellent grammar, spelling and knows how to use punctuation marks. The incorrect use of punctuation marks can change the content of a legal document.

Works in a Quiet Area – Set up a Skype call with the Virtual Assistant candidate for transcription and pay close attention to background noise and the quality of the audio. In order to be accurate, the transcriber has to be able to focus 100%. Background noise will be a source of distraction and may affect quality of work.

Meticulous; Detail-Oriented – The best transcriber is the one who is mindful about deadlines but takes the time to review the details of the transcription before submitting them. In medical transcription, patient names could sound the same but have a different spelling. Even a name as popular as “Smith” could be spelled as “Smythe”. The transcriber has to take steps to make sure all information is accurate.

A Virtual Assistant can deliver transcription work with an accuracy rating of 99%+. And because a Virtual Assistant operates from home and manages his or her time, punctual delivery and more focused work should be expected.

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How a Virtual Assistant can Increase Your Productivity by 300%

Productivity is an everyday concern of many entrepreneurs. Hiring a Virtual Assistant will not only ensure consistent productivity but with proper planning and the right business model, you can even increase output by 300%.

Here are 4 actionable tips to increase business productivity:

Identify Your Core Business Functions – Before you go through the process of finding a Virtual Assistant, review your business model. If you don’t have a system in place, create one and indicate the areas of responsibility, frameworks and processes.

Identify your core business functions. These are the ones that translate to money in the bank. You have to dedicate most of your time managing these functions if you want your business to succeed.

Delegate Non- Core Business Functions – The other tasks which don’t fall under your core business functions are your non- core business functions. These are often referred to as “non- essential tasks”. They are important to keep the business organized but are not directly related to output.

The non- core business functions should be delegated to your Virtual Assistant. By identifying these tasks, you will have an idea of the qualifications you need for your VA.

Having a VA handle these tasks will free up time for you to oversee core business functions.

Identify 4 Goals Per Day – Studies on the behavior of regular office employees showed that the average worker only puts in 90 minutes of productive work per day. That is only a productivity rating of 20% given that there are 450 minutes for productive work per day.

Using 90 minutes as your baseline, it is realistic to accomplish 4 goals per day. Dedicate 90 minutes of effort per goal. By effort, this means 110%, laser guided focus on accomplishing the task. There should be no distractions.

This will translate to 360 minutes or 6 hours of productive work per day. Give yourself a 30 minute break after 90 minutes. The break will be used to recharge; rest up and clear your mind before you work on the next goal.

By following this business model, you would be able to increase your productivity from 20% to 300% everyday. Across the week, you would increase your accomplishments from 5 goals to 20 goals. Thus, you exponentially accelerate the growth of your business.

Track Your Progress – Every end of the week, meet with your Virtual Assistant and do a review of business performance. Do a summary of tasks that were accomplished and those that were left pending.

Discuss difficulties, issues and other concerns that inhibited progress. Review statistics, figures and website analytics to have a reliable basis for recommendations and courses of action.

Is this a perfect business model for productivity? No because not all tasks are the same. You will encounter tasks that are more complicated and require more time. Perhaps on some days you will only accomplish 2; maybe even just 1. Then again, it is within the realm of possibility to even accomplish 5 or 6 goals on certain days.

The important take-away is that having the time to work directly on your core business functions would not have been possible without hiring a Virtual Assistant.

Unless you can efficiently manage your time, it will be difficult to keep your business moving forward.

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5 factors to consider when investing in an overseas property market

More people are now investing in overseas properties. But they often have to face with lots of challenges. Here are the important factors you should consider when investing in properties abroad.

Funding options

The securing fund is a challenge in a foreign market. You are subject to international laws, and things are discussed in terms of local currencies. You should get an ‘Agreement in Principle’ before finalizing your purchase. This will act as a protection in case you cannot extend your loan or cannot reclaim your original deposit.

Tax liability

Every country has its law regarding tax. In some countries, home owners have to pay land tax as a prerequisite for getting a mortgage. You might have to pay for stamp duty, title transfer tax, etc. You must incorporate all these tax-related costs in your budget.

Local money and exchange rates

It is necessary to understand the local value of currency and exchange rates. You need to get a Certificate of Incorporation to open a bank account if you have to bring money from your home country. This will help you to pay legal fees and tax debts.

Get an independent valuation

Even though the task may be difficult, you should obtain an individual evaluation of your property. This will guarantee the integrity of the property.

Research the location

You should research the location, amenities, transport system, etc. If you want to live there, this factor is very important. For example, if you have children, you need to find out if there are good schools in the region.

Before investing in a foreign property market, you should first decide why you want to buy the property. This will help you to stay focused and take steps carefully.

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4 reasons to invest in properties abroad

Many investors think this year as the best year for investing in the real estate market. There were 11% returns on global property investment in 2014, and the trends seem to be upward every year. Here are some reasons for investing in properties abroad.

European Growth

Americans and people from other countries are looking forward to investing in Europe. Most of them are finding properties in London, Paris, and Frankfurt. They are investing in holiday homes, offices, luxury retail spaces and shopping centers.

Protecting capital

Those who have cash in hand investing in property may be a good option to get some good return for their money. They can benefit from the exchange rate. This business is secured as the real estate market has high demand now.

Buy beachfront property

Beachfront property always has demanded. Europe is a great destination for holidaymakers. There are resort builders and other developers who will help you in selling your property.

Cash Flow in Alternate Currency

By investing in Europe or other international real estate market, you are generating income in another currency. So, in case your home country has an economic crisis, you can have alternate funds.

Investors are turning to the European real estate market to get a good income return. The European real estate markets are huge with great liquidity. The economy of Europe is improving. The return of investment is higher in European markets. So, if you are thinking of investing in the foreign market, it is the best time to do so.

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How to Win the Loyalty of Your Filipino Virtual Assistants

Filipino virtual assistants are known to deliver good performance. They have a good command in English, possess good work ethics and are very pleasant to work with.

Although high compensation attracts skilled workers, Filipinos are more inclined to continue working for people who earn their respect and trust. Loyalty is a virtue that Filipinos adhere to and once it is earned they will be with you from beginning to end.

Finding the right people for your team is important to ensure continued success in business. When you have loyal members, you can be assured that they share your vision and dedication. How do you make them stay once you have found the right people for the job?

Here are helpful ways to win the loyalty of your Filipino virtual assistants.

Maintain good communication. This will foster trust. An open line of communication will allow all issues to be dealt with properly.

Filipinos are non-confrontational by nature, so they need to be pushed a little to talk. One sided conversations will only turn them off. They will sincerely appreciate a boss who encourages them to speak up and be honest.

An open environment will certainly boost their morale and motivate them to deliver expectations. Filipino virtual assistants are sure to stay through thick and thin once their trust is earned.

Establish a positive working relationship. Filipinos are well known for their optimism. They perform best when working for people who know how to motivate them to perform well.

Acknowledge their efforts when they meet expectations. There will be mistakes along the way but constructive criticism will help strengthen your working relationship. When your Filipino Virtual Assistant hits a snag, hear him out first. Be patient and discuss how things can be done better.

They are very resilient and willing to learn from their mistakes. Positive reinforcement will help your Virtual Assistants get back on track and remain steadfastly loyal to you.

Respect and learn the culture. In the virtual workforce, cultural differences is no longer an issue. In fact, this is one of the keys to the success of this paradigm.

People from around the globe are able to work together while apart regardless of different backgrounds. If you want them to stay with you, learn more about the Filipinos. This will help you have a better understanding of the people you wish to stay on your team.

Learn about their customs, traditions and business practices. It would also help to take note of their holidays. Although the virtual world is exempted from holidays, it will help you understand why they may need some time off.

Do not worry too much about lagging behind, Filipinos are not imposing so if they have to work even on holidays they will.

Foster teamwork. Filipino virtual assistants are excellent team players. They just need a good leader to help them realize the value of their role in the group.

Connect them with other members of your team and instill in them the importance of working together. This will strengthen their sense of loyalty. When they are made aware of their place, your virtual assistants will not entertain thoughts of leaving the group.

There is a very good reason why the Philippines continues to lead the world in global outsourced services: the Filipino is a world class worker! Contract the services of a Filipino Virtual Assistant and find out how much easier and better life and business can get.