Since the Pandemic, a lot more people have set out to pursue online business enterprises. Especially with the discourse surrounding entrepreneurship on social media, it is no surprise that the rise of new businesses has reached an all-time high due to the benefits this lifestyle promotes.
Whether your new business venture is simply a side hustle to provide yourself with a little more wiggle room during these financially challenging times, or whether your wish is to transform your life and completely ditch the 9-5 in hope of more time and financial freedom – setting up a Virtual Assistant business will release you of your financial anxieties as a result of the earning potential it offers.
Whilst having said this of course, starting your own Virtual Assistant business brings its own set of unique challenges that are not easy in the slightest to overcome. But if you enjoy what you do and you are passionate about making your business successful, you will reap the rewards greatly.
What is a Virtual Assistant?
Firstly, let us begin with explaining what a Virtual Assistant is. As well outlining the roles and responsibilities that are expected of you as a Virtual Assistant.
As a Virtual Assistant you will work as a freelance or contracted assistant that works remotely, hence the term ‘Virtual’, and more generally the type of tasks your role will centre around will be administrative.
But as a VA you do not have to be solely limited to administration. In fact, as a Virtual Assistant there are quite a few niches you may choose to work in. Administration, Social Media Management and Project Management are just 3 examples of many.
The three main lines of services of Virtual Assisting are: General Administration, Business Marketing and Specialised Tasks.
The greatest thing about being a VA is that there are virtually no barriers to entry. Prior experience is not required and all the tasks that are required of you are skills that you can learn by yourself. As they say, experience is the best teacher. So, taking on roles that you may have little to no experience in, will also help you learn how to do more.
Pick your Niche and Services
The first thing you’ll want to do when it comes to starting your VA business is to pick your niche and the services you want to offer.
Do your research and remember that you do not have to be tied down to administration as a VA. The opportunities are endless!
Some Virtual Assistants will decide to work in industries they have had prior experience and access to. Simply for ease. For instance, if you have previously worked in construction, then you may find it easier starting off as a VA who works for clients in that industry.
Write a Business Plan
The next step would be to devise a business plan. Prioritise this step before you jump into booking any clients.
Ensuring that you have your entire plan for your business mapped out, gives you clarity and provides a solid foundation for your business. So, at every step of the way you are clear on exactly what you have to do.
Outline what you wish to achieve with your services. How you will work with your clients. Research who your competitors are. As well as the capital you may need to acquire before starting. These are all extremely important and this step should not be missed.
Register and Name your Business
Choosing a name for your business can be fairly straight forward if you wish to choose the naming process that is most popular amongst this industry.
Typically, Virtual Assistant businesses start with either one of these words ‘Virtual’; ‘Virtually’; ‘Socials’ or ‘Socially’ with the addition of your name.
Of course, you do not have to follow this process. As your own boss you have complete jurisdiction over your name. Just ensure that it is one that is conducive with your Virtual Assistant brand and is a name that will mesh well amongst your ideal clients.
Invest in Tools that will Help your Business
Business management tools will help you greatly when it comes to running your business. You will need some form of software to organise your workspace and the different projects you will work on with clients
As well as an invoicing software, to help you write and issue invoices. Honey Book is a software where the issuing of contracts and invoices is collated into one system.
And if you decide to charge hourly, a time tracking software is also a great addition to your investments.
Market Your Business
Setting up an Instagram account dedicated to your business will be the best way for you to market your services, to grow and join a community of like-minded people. And most importantly a way for you to find clients and for clients to find you.
As with everything, the marketing of your business will be a commitment that you must stay dedicated to in order for you to reap the benefits of it.
It might be a good idea to draft a strategy to ensure the content you publish on your Instagram speaks directly to your ideal clients. The goal is to make sales.
Choose How to Price Your Services
If you are just starting out, the easiest way to price your services will be hourly.
Setting an hourly rate is a simple way of getting paid and will not be complicated if you are dealing with a small number of clients.
But as you grow in your business, you may find that you will want to scale and charging hourly no longer is as simple as it once was.
Other ways to charge include:
Hourly Packages
Service Packages
Monthly retainer
One-time flat fee
Create a Contract
The last step is choosing your contract. It is very important that you set out a formal agreement before you and your client start your work together. This protects your rights as well as the client. And ensures that you are both on the same page at all times when it comes to the responsibilities you each hold.
Do not start work until both parties have agreed to the terms and signed the contract!
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