Tips for Operating a Successful Virtual Company With Freelancers

These days, not every business is run and operated from a brick-and-mortar building. In fact, your ecommerce business can be established and managed from virtually anywhere – including your home office. Having a team of freelancers who work from all over the world can be just as productive as hiring employees in an office with cubicles. Wherever your workers are located, organization, good management and communication are keys to success for any company. The following guide provides some tips and resources to help your virtual company mesh perfectly with your freelancers.

Initial Organization and Administration

Setting up your company is one of your first steps. Forming as a limited liability company, or LLC, can save you on paperwork, protect your personal assets, and give you more flexibility and tax advantages. S corp Ohio structures are also a popular choice for new entrepreneurs, particularly with those who want lower self-employment taxes and the option of claiming deductions on their business losses.

You can start an LLC in Ohio on your own rather than paying an attorney's fees. If you are not comfortable doing this, consider a formation service that’s affordable and has expertise in the process. Since S corps involve more paperwork than LLCs to get up and running, it’s a good idea to use a service to help you form this entity. Other initial administrative tasks for your startup are establishing an accounting system and marketing plan and hiring high-quality workers.

Xero notes that an accountant can guide you to the best software for your specific needs as well as assist with debt management, business strategy and deciding what positions to hire to increase your revenue. You can start your online marketing campaign or hire a professional to ensure regular, high-quality postings on a variety of platforms that target your audience. Branding is crucial to your success, so if your talent is not in social media or if you cannot dedicate the time to consistent messaging, consider finding a freelance marketer.

When it comes to running an ecommerce business, there are a lot of legal considerations to keep in mind. From complying with online privacy laws to ensuring that your products are safe and fit for purpose, there are a range of legal issues that you need to be aware of. Failure to comply with the law can lead to hefty fines, and in some cases, criminal prosecution. This is why it is so important to seek out professional legal help when setting up and running an ecommerce business. 

Hiring Your Freelancers

When looking for your workforce, there are various searchable online job boards that showcase freelancers in specific fields. Experienced freelancers will typically have many reviews so look for feedback from past clients and try to read between the lines. Beware of low bidding on projects you offer—often these freelancers aren’t reliable and may leave midway through an assignment. You’ll also want to consider how a candidate fits into your business’s culture.

Virtual Management

Communication between co-workers can be effective in a virtual environment when you have the proper software. Utilizing Slack or Skype video conferencing allows face-to-face interactions and is also beneficial for social time to maintain camaraderie. Keeping staff satisfied increases production, so don't hesitate to engage in employee recognition, rewards, contests or online happy hour. Statistics cited by TeamStage show that employees are 17% more productive when they are engaged in their company and 12% more productive when they are happy in their workspace.

Thanks to various software tools, you can easily manage a team of online freelancers and oversee your successful virtual business. Communicating with your staff can be as simple as if you were in an office setting. Regardless of where your independent contractors live, take care of them. Pay fairly and consistently and offer recognition and rewards. Your talent pool is wide open, and with proper management, so is your business growth.