Welcome to this episode of the OBM Educator. I am sure you can tell by the title of today's episode, but we are going to be talking about what exactly is an OBM or an online business manager? So if you've listened to the first three episodes that came out last week, you have an idea around how to transition from a VA to an OBM and also what it's like to work as an OBM from the client's perspective, but I never really answered the question what is an OBM? So, with this podcast being called the OBM Educator, that is a really important question to answer. So I'm going to keep today's episode short so that you can really grasp what the role of an OBM is without getting overwhelmed by it. So let's get into it.
00:52
Welcome to the OBM Educator. I'm your host, Amanda McVicker, a veteran OBM who serves six and seven figure entrepreneurs as well as educates new OBMs with the skills and confidence they need to start and grow their own successful online business management business. Follow along as I share valuable insights, behind-the-scenes sneak peeks and proven strategies to help you build a better OBM business. In the simplest of terms, an online business manager or OBM and that's what I'm going to call it going forward is someone who manages businesses remotely, more than likely on a contract basis, which means they have their own business, either an LLC, or they're a sole proprietor, and they work as a 1099 contractor for other businesses. So think like a COO chief operating officer or DOO director of operations or an office business manager, because those three positions are more widely known and so it's easier to kind of understand what it is that they do and kind of tie it back to being an OBM. But there's someone who manages the team, makes sure that things are happening when they need to happen and helps the CEO out with running the company. So, in the way that I talk about OBMs, they will typically work with online businesses. So all the different types of coaches business coaches, life coaches, fitness coaches, relationship coaches like all the coaches, course creators, even other done-for-you service providers but I have had the experience and I know others have had too of working as an OBM for businesses that have a brick and mortar presence, like therapists or schools or medical offices. So it really just does depend on the business and what it is that they need just does depend on the business and what it is that they need. So OBMs support CEOs through handling the day-to-day operations of the business and ultimately, so that the CEO can stay in their zone of genius, support their own clients and not get into the weeds of the business. So when an OBM comes on, they're really taking the business owner out of the weeds, out of the day-to-day so that they can focus on what actually makes them money.
03:10
An OBM is typically not going to work for a business that's just starting out. They will usually and there's always an exception to everything I am saying but they will usually work with established businesses that have clients and different offers and define marketing, probably making at least $10,000 a month, like that's obviously not a hard and steadfast rule, but it's kind of like a good guide or currently have a VA or other support person already in their business and then they realize they need a higher level of support in terms of systems management and tech. So, going back to OBMs and what it looks like for them, they will have multiple clients typically. It can depend on the types of offers that they have, but they might have three to four long-term clients or something called retainers. They might have more, they might have less and they handle business management for them. So I would say a sweet spot in terms of how much time is devoted to a client as an OBM would be like 20 to 30 hours a month, but it is common to have as low as 10. I think anything below that they might not have the business that necessarily needs an OBM and it could go as high as 40, maybe 50 hours a month. I feel like 50 might be a bit too high because at that point you're getting into someone who really does need to be in there more than like on a very much more part-time basis, like 20 hours a week or something like that.
04:48
It really depends on the OBM's capacity and on the business. So say like you have one client who needs you for 20 hours a week, like that just might be your business and that's okay. So it really is depending on what it is that you want. As far as services, obm services are really going to vary depending on the industry that you're in, what you really enjoy doing or don't like doing and what you're skilled at. Also the industry that you choose to focus on. So you know the services that are needed for a business coach are going to be different for the services needed for, say, a therapist. So it's really going to depend on the industry that you choose. So for someone who is forward thinking and tech savvy and is good at management in general, there are going to be tons of different options to create a successful OBM business. The most common OBM services and typically I'm going to say, if you don't like one of these things, you know, maybe reconsider being an OBM. But they are team management, project management and system setup and management and, of course, there are always exceptions. So if you're like listening and like I don't like one of those things, like that's fine, but those are going to be the most common things that you will find as an OBM.
06:07
So I did want to note and I say this after having a conversation the other day about this but I think that a lot of people put being an OBM on a pedestal. They see it as this completely out of reach thing, when in reality, if you are already in the online space working as a virtual assistant or something like that, and you find yourself drawn more to the tech and the systems and the management etc. You're a lot closer to being an OBM than you think. Like everything that I have listed already, like that is the main stuff of being an OBM, and I've been talking for about seven minutes. I've been talking for about seven minutes, right?
06:46
So like it's not that much, but I feel like a lot of people look at being an OBM as this completely unattainable thing. So in the same way that say you are a virtual assistant, that as a VA, you are helping your business owners, your clients, create balance, success, freedom in their business and life through taking things off their plate, being an OBM you're helping business owners create the same things through implementing systems and processes that would probably come natural to you anyway. So it's like thinking of it as looking through a different lens in someone's business. It's not this completely different thing. You're just looking at different things, like you're focusing on something different, whereas instead of focusing on the admin and the day-to-day tasks, you're looking at the bigger picture of the business, but at the end of the day, it's still a support person for the CEO. It's not this completely unattainable, out of reach thing. It is a lot closer than you might realize.
07:58
So I hope this gave you some insight to what an OBM is and maybe, if you've been wondering if it's time for you to become an OBM, this helped push you towards making that transition, or at least thinking about it. We need more good OBMs in the online business. As the online space grows, more and more businesses need this level of support, so I definitely encourage you to think about if making that shift feels right for you and join me here each week because I will be sharing more and more knowledge to help make that transition as smooth as possible. I'll talk to you guys next time. Thanks for joining me for this episode of the OBM Educator.
08:41
I hope what you heard today is helpful for you on your OBM journey. If you loved today's episode, I would so appreciate you sharing it and leaving a review on your OBM journey. If you loved today's episode, I would so appreciate you sharing it and leaving a review on your favorite podcast platform. Want to be a guest on the OBM Educator? Fill out the form in the show notes and I'll be in touch. Join us next time on the OBM Educator. Thank you.