Entry

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Achievement - Achievement in Growth
(Gold Winner)

PO#

#TBA01596

Payment Status

Paid

PO Created Date

2022-03-02 16:55:39

Paid Date

2022-03-02 16:57:34

Competition

2022

Season

Entry ID

TBE101321

Entry Submission Date

2022-03-02 11:36:02

Member's Name

Pavel Stepanov

Member's Email

jerica@myvirtudesk.com

Entry Level

Entrepreneur

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Yes

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AA22003 - Achievement in Growth

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Project Description

Project Description for Judges

Question 1 : Provide a brief description / background of your nominated organizational, departmental, team, or individual circumstance. (Your response to this question will be used for public display if your entry is awarded.)

Virtudesk is a privately-held company that offers virtual assistant services in the United States and Canada. We were founded in 2016, by Pavel Stepanov, and offer remote-working business professionals from the Philippines. Our virtual assistant services include administration, marketing, customer service, prospecting, sales, real estate transaction coordination, and more. We provide our services to companies in all industries.
Our mission and goal is to help our clients optimize company systems and processes, learn how to delegate responsibilities, and focus on revenue-earning activities. By leveraging our well-trained virtual assistants, they can grow and scale their businesses. 
Before Pavel started Virtudesk, he was a practicing real estate agent and managing broker. He decided to hire his first virtual assistant in order to offload many of his administrative and prospecting tasks. At the time, he was working 12-16 hours a day.
When he hired his first virtual assistant, he was able to go to 2-3x more appointments that his VA set up for him. He was able to almost triple his revenue that year, land more clients, close more sales, and ultimately grew his business cost-effectively. When he saw this growth, he started helping other agents in his brokerage when they came asking about it. Then, he got the idea to start Virtudesk. Now, we have grown to be an Inc. 5000 company.

Question 2 : Outline your nominated organizational, departmental, team, or individual achievements, dated 1-3 years prior, based on your selected categories.

Virtudesk is one of the few companies that thrived in 2020 during the onset of the COVID-19 pandemic. In fact, we hit record sign-ups that year. And the year following that in 2021, we broke our record for sign-ups again and recorded 162.53% growth. 
In 2021, we made the Inc. 5000 list and ranked 1068th on the list, achieving 454% growth in three years. In 2021 alone, our sales or sign-up growth was 109%. This 2022, we are targeting to double our growth and make the Inc. 500.
Amid the COVID crisis, we were also able to expand our team. We more than doubled the number of our employees in 2021 alone, experiencing a 129% employee growth. The last two years have proven a sharp increase in demand for virtual assistants and remote work. So, we needed to build up our human capital and infrastructure in order to meet that demand and continue serving our client base. 
Moreover, we have provided many clients with the tools and talent they need to scale their businesses, and pride ourselves in the accomplishments we help our clients achieve. When we conducted an internal study earlier this year, one of our clients reported his virtual assistants closed more than 300 new customers for his company in the last year. Another client reported a 35% growth in client intake since hiring a virtual assistant from Virtudesk.
Overall, our study concluded that 50% of clients experienced a 20% revenue increase, and 15% reported an increase of up to 30% by incorporating virtual assistance onto their team.

Question 3 : Provide examples of the strategies / plans you have introduced, in order to attain your nominated organizational, departmental, team, or individual achievements. Explain why the highlighted achievements are significant / unique.

In order to support our company’s growth of 454% in the last three years, we invested heavily in human capital. Just last year, we more than doubled our employee base. We hired more U.S.- and Philippine-based employees, with a specific focus on leadership roles. We now have more managers, directors, and consultants to build infrastructure to better serve our clients. We also invested in creating greater infrastructure such as new departments and building out existing ones. In these departments, we added more roles, functions, and responsibilities. By investing in more human capital for our marketing team, we have been able to improve our brand awareness and visibility. 
The partnerships we have established in 2021 have made a huge impact on our achievements and reported growth. Establishing partnerships with industry influencers and leaders such as Tom Ferry (real estate coach and influencer), Tristan Ahumada (CEO of Lab Coat Agents and Success Magazine Editor), Jason Pantana (coach and speaker for Tom Ferry), Mally Roncal (Founder and President of Mally Beauty), Storm Ventures Group, and others have allowed us to tap into new markets. It has allowed us to reach people with the exact needs we fill, enabling us to increase our sign-up rate and decrease customer acquisition costs.
Our achievements are significant because, in the span of two years, we were able to achieve over 100% growth in revenue, sign-ups, and employee numbers. We also made the Inc. 5000 and were able to help our own clients achieve similar growth results – all in a time when many businesses were closing down or severely hurt. Our efforts to reach more leads and positively impact the lives of entrepreneurs and business owners are paying off.

Optional Context for Judges (Not for publication. This section is solely for judges' evaluation.)

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Link List

Actions	Link	Password Protected	Password	Display (Winner Info)	Display Checked
	https://www.inc.com/profile/virtudesk	No		Display
	https://myvirtudesk.com	No		Display

Credit List

Actions	Name	Title Organization
	Pavel Stepanov	CEO at Virtudesk
	Fatima Patricia	Operations Manager at Virtudesk
	Elias Diaz	Director of Sales at Virtudesk
	Sera Chern	Director of Marketing and Development at Virtudesk
	Audrey Truitt	Digital Marketing Manager at Virtudesk

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Remove	Actions	File Link	File Size	File Link (System Resize)	File Size (System Resize)	Display(Winner Page)	Display Check
		upload/entry/files/TBE101321/46911646276676.jpg	111.34KB	upload/entry/files/TBE101321/46911646276676.jpg	111.34KB	Display

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