Are you new to the world of business coaches, course creators, virtual assistants, and the like?
Then you may have heard the term “online business manager” (or OBM) and were intrigued by what it was, but not quite sure what all it entailed.
I get it. In the online space, we all want to act like we know what’s going on - after all, we’re trying to start businesses and appear knowledgeable, so sometimes we don’t want to show that we don’t know something.
Well, today, you’re in luck because I’m going to show you everything you need to know about online business managers, but are too afraid to ask, including how to differentiate it from other online service providers.
You’ll be ready to start your OBM business in no time!
What is an Online Business Manager?
I’m not here to bury the lede; in simple terms an Online Business Manager is someone who manages businesses remotely, typically on a contract basis. Think a COO or COO, or an Office Business Manager. Someone who manages the teams, makes sure things are happening when they need to happen, and helps the CEO out with leading the company.
Typically, an OBM will work with online businesses - coaches, course creators, other done-for-you service providers, etc. But I have had experience, and I know others have too, working with businesses that have a brick and mortar presence, like therapists, schools, medical offices, etc.
Online Business Managers support CEOs through handling the day to day operations of the business so that the CEO can stay in their zone of genius, support their own clients, and not get in the weeds of the business.
Online Business Managers typically have their own business and cater to multiple clients. Depending on the type of offers they have (check out this blog post if you want to see what offers I recommend for a new OBM), they may have 2-3 long-term clients or work with new clients every month.
Online Business Manager services vary widely among the industry, really depending on what the OBM enjoys doing, what they are skilled at, and what the industry they choose to focus on needs. For someone who is forward thinking, tech savvy, and is good at management, there are tons of different options to create a successful OBM business.
Why are Online Business Managers Important?
Typically when someone starts a business, they wear all of the hats. They are not only in charge of whatever the business does (i.e. coaching clients), but also everything else that goes into making it possible that they can do whatever the business does (i.e. send out invoices, onboard clients, post on social media, reconcile finances, etc.).
As a business becomes more successful, the business owner has less and less time to devote to all of the things that don’t make them money. That is when they decide to start outsourcing.
When first starting to outsource, a business owner will probably start with a virtual assistant (VA). This is someone who can take tasks off of the business owner’s plate. Maybe someone who does social media posting. Or sends out emails. Or handles customer service messages.
Over time, the business owner might need to outsource something else. Maybe they get a dedicated social media VA. Or a second VA to handle more admin tasks. Now, in addition to doing what makes them money (coaching, in our example), they also have to manage their team members.
Usually at this time as well, a business owner might have started adding in digital products, courses, a podcast, a mastermind - other offers that need to be launched and managed. These projects usually are outside of the scope of VAs, so the business owner needs to outsource that as well.
This is where an Online Business Manager comes in.
An Online Business Manager is able to come in to manage the team, the launches, the offers, and the business - so that the business owner can keep growing and scaling.
Not every business is going to need an Online Business Manager, but for the ones that hit a certain level, they can’t do business effectively without one.
On top of that, Online Business Managers can also help business owners save money by finding ways to be more efficient in business processes, suggesting new platforms that can cost less, or cleaning up platforms that are not being used.
For example:
When I first started working with one of my clients, they were using an email marketing platform that charged more when you had more contacts (not necessarily subscribers). They had never cleaned up their email list before, so there were hundreds of contacts on the list who were unsubscribed, bounced, or hadn’t opened an email in years.
One of our first big projects was cleaning up her list, removing over 500 contacts while also re-engaging some others, but also ultimately saving her money each month because we could go down a level on the platform.
Part of being an OBM is thinking outside of the box, looking at things in a new way, and offering suggestions that will help the CEO in running their business more efficiently.
How Being an Online Business Manager Works
So far, we've stayed pretty theoretical in our exploration of Online Business Managers and if you're still a little confused, I don't blame you.
In fact, when I first started learning about what an OBM was, I felt like there was so much to learn, not only about the position itself, but also how I would find clients, market myself, and run a business. The fact that I booked out my OBM business in 4 months and have had consistent $6-8k months for 3 years now shows that I was thankfully wrong.
There are definitely some types of people who will excel easier at being an Online Business Manager than others, but I think that if you have the drive and willingness to learn, anyone can create an OBM business and be successful and profitable.
I've put together a few points on being an Online Business Manager that will give you a better grasp as to what it all entails.
Starting Your Own Business
You might be jumping into the OBM role after being a VA (if so, you want to make sure you grab my VA to OBM Transition Guide to help you navigate that process), but you also might be jumping in the online business space straight to OBM.
If that’s the case, the first thing to know about being an Online Business Manager, is that you are also a business owner. You can have a sole proprietorship or an LLC, but you are a business.
That means you will be an independent contractor for your clients, you will need to pay taxes on the money you earn, and (here’s the fun one) you get to choose what it is you do.
Don’t like a client? Don’t work with them.
Don’t like a service? Don’t offer it.
Don’t like working Fridays? Don’t.
As you grow your OBM business, you will learn and enforce boundaries, figure out what you do and don’t like doing, and determine how you like running your business.
There is definitely a lot of freedom in that, but it can also hold new OBMs back, waiting to make sure everything is perfect before moving forward. Learning the foundations is super important to make sure you have all of the information necessary to create an OBM business that you love.
Want access to my signature course, Level Up OBM, that guides you step by step in becoming a successful and profitable OBM? You’re in luck because the waitlist is now open for the inaugural round! You’ll get a special offer by signing up for the waitlist. Sign up here!
Defining your Offers & Services
Now that you have figured out the business side of things, now it’s time to figure out what you’re going to offer.
Online Business Managers usually offer a variety of different services, but for the most part, you will want to make sure to include the following:
- Team Management
- Project Management
- Systems Set Up & Management
Depending on the niche or industry that you focus on (if you want, definitely not required) you might want to add in additional services. If you have special skills, like social media or content writing, you can also include those services as well.
When it comes to how you are going to offer those services, having a retainer will lead to long-term client relationships. A retainer is a paid up front, block of either hours or services that are done on a monthly basis. You get paid monthly, you know what to expect each month, and you usually work with your clients long-term.
For example, I have three retainer clients. Two clients pay for 20 hours a month, and one client pays for 30 hours a month. Each month I get their retainer payment at the beginning of the month, and then I perform services for them throughout the month. I have been with these clients for 2 ½ - 3 ½ years. I don’t have to worry about finding new clients each month, and my clients have someone in their corner who is very familiar with their business.
If you’re just starting out, I have other recommendations for offers that you can check out in this blog post.
Finding Clients
This is the part that scares people away from starting an online business - finding clients. And while there are no fool-proof methods to getting clients, sometimes people make it harder than it needs to be.
Once you figure out your area of focus as an OBM, you would want to start looking for business owners in that area of focus.
When I first started in the online space, I worked with event planners. So I needed to find event planners. The type of event planner I was looking for were independent meeting planners. I knew they were most likely hanging out on LinkedIn, so I focused my time and energy on LinkedIn.
Now, on the flipside, if I had wanted to cater to wedding planners, LinkedIn wouldn’t have been the best place for me to look. Sure, wedding planners are probably on LinkedIn, but they are more realistically going to spend their time on Instagram.
You want to go to where your ideal client is.
This might be Instagram, LinkedIn, Facebook groups, Meetups, local networking groups, Twitter - the possibilities are endless, but you want to focus on where they are. You can do all the marketing in the world, but if your ideal client doesn’t see it, it doesn’t matter.
Personal connection is going to get you the furthest when it comes to getting clients. Having a social media presence is great, but for this type of partnership, a business owner is going to go with someone they have a connection with. So make sure to spend time nurturing relationships.
And never underestimate the power of networking. Look to people you already know and see if they need any support, or know anyone who does. You never know who someone knows, and they might just know your next client.
Getting the first client is always the toughest, but I find (and even in my own experience) that once you get the first client and do a great job, the other clients start coming in through referrals and word of mouth.
Wrapping Up
I hope you’re crystal clear on what an Online Business Manager is now.
I got into educating new OBMs because I saw a lack of direct knowledge of what an OBM was and how they worked. It can be confusing, but I know that this is a business that so many women can have, so I want to share it with as many people as I can.
Do you still have questions? No shame in that! My Instagram is full of tons of educational content, lives, and inspiration. Plus my DMs have frequently been known to answer any questions that come its way 😉
If learning about OBMs intrigued you and you’re thinking about starting an OBM business, my course Level Up OBM is almost live! This course meets group coaching program is starting in February and is the step by step program you need to start and grow your OBM business to being successful and profitable.
The waitlist is now open - join the waitlist and you’ll get $300 off when we open doors.
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