Start Your Own Virtual Assistant Business

by The Staff of Entrepreneur Media, Jason R. Rich

Overview

Ditch the day-job and put your organizational acumen to work! Virtual Assistants are growing increasingly vital for the modern business, with more opportunities to thrive than ever before.

Not sure where to start? The experts at Entrepreneur take it from the top, guiding you step-by-step through the minutia so you can hone in on your unique skill set, land clients, manage multiple projects, and tackle time constraints with ease. Part-time, full-time, or contract work is welcome, with low start-up costs and no advanced degree required, there’s virtually no barrier to entry. Taskmasters rejoice, becoming your own boss has never been simpler!

Providing insider tips from Entrepreneur’s hand-selected specialists, you’ll learn everything you need to make decisions with confidence. LLC or Sole Proprietorship? Hourly or flat rate fee? Our experts have you covered so you can focus on your business, not the busywork.

Learn how to:  

• Brand your business without breaking the bank
• Set competitive rates for your services
• Establish your business as a legal entity 
• Curate your workspace for maximum productivity
• Access apps and software designed specifically for Virtual Assistants

Get back to business on your own terms! Start Your Own Virtual Assistant Business takes you there.

Product Details

ISBN-13:	9781642011142
Publisher:	Entrepreneur Press
Publication date:	02/07/2023
Series:	Start Your Own
Pages:	192
Sales rank:	503,869
Product dimensions:	6.90(w) x 8.90(h) x 0.50(d)

About the Author

For more than four decades, Entrepreneur Media has been setting the course for small business success. From startup to retirement, millions of entrepreneurs and small business owners trust the Entrepreneur Media family; Entrepreneur magazine, Entrepreneur.com, Entrepreneur Press, and our industry partners to point them in the right direction. The Entrepreneur Media family is regarded as a beacon within the small to midsized business community, providing outstanding content, fresh opportunities, and innovative ways to push publishing, small business, and entrepreneurship forward.

Table of Contents

Preface xi

This Book Offers a Plethora of Advice from Experts xiii

Facts You Need to Know Upfront xiv

Chapter 1 Becoming a Virtual Assistant 1

Choose a Pricing Model for Your Work 2

VAs Typically Work from a Home Office 2

Running a VA Business Makes You the Boss 3

The Differences Between a Sole Proprietorship and Limited Liability Company 4

VAs Always Need to Multitask 6

VAs Typically Get to Choose Their Own Clients 7

Additional Startup Considerations 7

Choose Your Niche 8

Compose Your Company's Mission Statement 8

Your Home Office Is Your Primary Work Space 9

Creating Your Brand 10

Your Time Matters 10

Develop an Understanding of Each Client's Needs 11

Compose a Business Plan 12

Get Ready to Take Control! 16

Chapter 2 Potential Responsibilities of a Virtual Assistant 17

Why Business Leaders and Companies Should Hire Virtual Assistants 18

Define Your Niche as a VA 19

Start Compiling Your Services Menu 24

General Administrative Tasks 24

Specialized Tasks 25

Your Services Menu 26

Your About Us Page 26

Should You Start Your Own VA Business or Work with an Agency? 27

Meet Lauren Gall, Cofounder of VaVa Virtual Assistants 28

Meet Cindy Opong, Founder of Creative Assistants 32

Meet Latrice Prater, Founder of The Digital Solutions Team 35

Establish a Strong Foundation for Your Virtual Assistant Business 38

Chapter 3 Branding Your Virtual Assistant Business 39

Elements of a Company's Brand 40

The Company Name 40

A Mission Statement and Slogan 41

Your Company's Logo 42

Choose Your Domain Name 45

Focus on Website Design 46

Use Branded Social Media Content 50

Use Personalized Email Accounts 51

Don't Forget Letterhead and Business Cards 53

Your Business Phone Number 54

It's Time to Set Up Your Work Space 55

Chapter 4 The Equipment You'll Need 57

Establish Your Home Office and Set Up Your Work Space 58

Selecting Your Work Space 58

Choose the Right Office Furniture 60

Gather the Equipment You'll Need 61

The Software Tools You'll Likely Need 62

Take Advantage of Apps Designed Specifically for Virtual Assistants 63

The Next Steps in Launching Your Own Virtual Assistant Business 68

Chapter 5 Setting Your Pricing 71

First Calculate Your Initial Investment and Cost of Doing Business 73

Making an Initial Investment in Your Business 74

Ongoing Fixed and Variable Business Expenses 74

Financial Management 77

Tax Matters 79

How Will You Get Paid? 79

What's in the Financial Forecast? 81

Common Pricing Options Used by Virtual Assistants 82

Get Paid by the Hour 82

Offer Prepaid Packages 82

Charge a Retainer and Then a Discounted Hourly Rate 84

Charge a Pre-Negotiated Flat Fee for Each Project 84

More Strategies for Setting Your Rates 84

You Won't Land Any Clients Without Marketing, Advertising, and Promoting Your Business 88

Chapter 6 Marketing Your Business to Find Clients 89

A Social Media Presence Is a Must 91

Email and/or Direct-Mail Marketing 95

Paid Advertising 97

Tap the Power of the Media with a PR Campaign 99

"Experts Say …" 101

In-Person and Online Networking 102

Volunteer for Causes and Organizations You Care About 103

Word-of-Mouth Promotion and Referrals 104

Join Professional Associations 104

Advice from Melissa Smith, Founder and CEO of the Association of Virtual Assistants 105

Work for an Agency 109

Find VA Listings on Job Websites 110

You've Found a New Client-Now What? 111

Chapter 7 Landing and Managing Your Clients 113

Do Your Research 114

The Client Interview Process 114

The Onboarding Process 116

Set Your Boundaries 116

Spell It All Out in the Contract 117

Sample Employment Contracts Between VAs and Clients 119

Develop and Showcase Your Client Relations Skills 119

Advice from Business Leaders Who Rely on VAs for Their Success 120

Meet John Gotschall, CEO of Coaching Financial Concepts 120

Meet Brad Farris, CEO of Anchor Advisors 122

Meet Meredith Noble, Cofounder and CEO of Seneca Works LLC 124

Learn How to Manage Your Time 126

Chapter 8 Managing Your Time and Work-Related Tools 151

Time Management Basics 152

Don't Overextend Yourself 154

Prioritize Your Clients Fairly 154

Sometimes You May Want or Need to Turn Down Work 154

20 Additional Tips for Mastering Time Management 156

Common Collaboration and Productivity Tools That'll Help You Save Time 160

Always Use the Right Tool for the Job 160

Focus on Security Today and Save a Lot of Time Moving Forward 161

Password Security and Management Are a Must 161

Add Security and Privacy Extensions to Your Web Browser 162

Take Advantage of a Virtual Private Network for Added Security 163

Turn On the Password and Security Features in the Applications You Use 163

Seek Out a Mentor 164

Chapter 9 Experienced VAs Share Their Thoughts and Advice 165

David Hogan, Throne Consulting 166

Diana Ennen, Virtual Word Publishing 170

Erin Dahlquist, Latchkey Marketing 173

Felly Day, Felly Day VA 176

Vickie Hadge, Virtually Done by Vickie 179

Final Thoughts 181

Glossary 183

About the Author 191

Index 193