The VA Biz 101 - Topic #3

The Business of Virtual Assisting - Part II

Topic Objective: Explore the transition from employee to Business Owner

So - is this for you?

You are the only one who can answer this. Take a close look at yourself, your life and this business. Only you can decide - only you can choose. Working as a Virtual Assistant is a choice. What do you want? What is your vision?

I’ve been blessed to be successful in this business and I want to help you be successful as a VA too. I know you cannot just do the work of a VA and expect long-term results. This site is designed to go beyond a generic business start up book. Here you can implement the systems and add your uniqueness to design and create your own business based upon your vision.

To have a successful Virtual Assisting Business, you must have a strong foundation, know who you are, what you want for yourself and your business. This will enable you to weather the cyclical nature of business, maintain a steady client and income stream and sustain a long-term successful business.

Remember being a Professional VA is not who you are, it is what you do professionally. Design, develop and operate a VA Business, not a job that runs you. If you are ready to commit to becoming a Virtual Assistant and building your VA Business then let’s get going!

Moving Forward

I have stressed, and I can’t say it enough, that planning and systems are crucial to your business foundation. You have already developed your vision and hopefully given some thought to your goals (we’ll look at goal setting in depth later in the course). If you are working full time at an outside job, you need to develop a transition plan to move to a full time VA Business.

If you have any doubt you must ask yourself, “What am I really afraid of?” Now, if that happened, what is the worse case scenario? You tighten your purse strings? Maybe you use some of your savings? Maybe you get a part time job?

What ever happens - the earth will not stop spinning on its axis. You have to ask yourself if not now, when? There are always excuses why not but if your why is bigger than the why nots - now what?

The truth is that everyone is self-employed and everyone is in sales. So are you going to run your business or let a business, someone else’s business, run you?

I have reviewed many VA Training programs. In one program I reviewed the trainer remarked, “This ain’t no 9 - 5 job”. Hmm…well it isn’t if you don’t want it to be. If my kids were small, I would work around their schedules more. Mine are older now but I still need to work around track and cross-country meets. That means working the occasional evening or Saturday but you don’t have to be available to your clients 24/7/365. You have to set your boundaries or your clients (and your kids!) will set them for you. You cannot be all things to all people all of the time. The idea behind this business is to design - and then live! - life the way you want to!

The Transition Process

There are several things to consider when evaluating how you will move from your current situation to that of a business owner.

1. Full time job and part time business:

Can you work full time and build your business in the evenings or weekends? I really don’t recommend this unless it is absolutely your only option. General Office and Administrative Assistant work generally requires that you are available for communication during regular business hours. If you are doing project-based work such as web research, you may be able to pull it off.

Consider your other commitments such as your family. Working this much is very difficult to sustain so you need a lot of support if you have a family. You need to have a clearly defined strategy so that this is only a short-term situation. $ for $ you end up with two full time jobs, no sleep and lots of stress. It’s not something you can do for a long period.

2. Using your Savings:

Take a look at your financial reserves. Is it worth using some of your savings to support yourself and your family while you build your business?

3. Other income sources:

Do you have income from a spouse who is supportive of your goal to be a VA?

4. Are you willing to make some lifestyle changes?

This might not be fun but consider the payoff. Can you choose to eat in instead of out? Or maybe have a family game night instead of going out to the movies? Get a cheaper cell phone instead of one with all the bells and whistles? Are you really going to take calls at soccer practice? Should you take calls at soccer practice?

Choose - high speed internet connection or new shoes? What price are you willing to pay to build your successful business, to build your vision?

5. Should you take out a loan or use your credit cards?

I don’t recommend going into debt to start your business. It’s not worth the risk to your family and the stress of debt can zap the joy right out of you replacing it with fear. You don’t want to be a slave to your business. That’s what a job is!

6. Part time (or temp) job and build your business:

Could you work a part time or temp job while you build your practice? If you have another source of income this may be a great way to transition. I had a pizza delivery job and I really enjoyed it! I made excellent use of my library card to get books on CD and really furthered my education. What others pay for with tuition - I got free!

The Cyclical Nature of Business

Business tends to run in cycles and this is something you need to be prepared for. Forecasting and budgeting won’t always predict bumps in the road. When I started out as a VA, I had a client who appeared to be very stable and have very deep pockets. I worked about 20 hours a week for them and I had a part time job. Everything was cruising along swimmingly and then one day, my client disappeared. Vanished. The website was down, they didn’t answer the phone and they owed me for two weeks of work. Luckily, I still had my part time job as well as another new client. It meant hanging onto my job for longer than I wanted but at least I had that income. As the Boy Scouts say - Be prepared!

A word of caution - be sure you are committed and willing to make the time, energy and emotional commitment needed to starting and growing your business. Remember when I asked you if you are willing to be fearless? Are you? Are you really?

Still here?

Good - and to keep going you must remember that in addition to taking care of your business and your family and the snacks for your daughter’s soccer game and the fliers for your son’s dance recital and…all that other stuff…

Self Care is not selfish

Don’t forget that there is someone else who needs to be cared for - you!

Be sure to set time aside for just plain fun. Go have coffee with a girlfriend. Read a book, just for fun. No, not one about building your business but an actual novel!

Refresh and re-energize - take care of yourself or you won’t be able to take care of your clients and family.

Ready, Set, Go!

Don’t get stuck in get ready to get ready mode - jump on in! Appreciate what you have in this opportunity and play nice. You can help develop the best practices and industry standards!

There is a lot of information and a lot to consider in setting up your own business, even if it is a virtual one. Don’t let this overwhelm you - you will have a lot of support here to help you through. But - while I can help you develop your systems remember that the mindset and the attitude are your choice.

So, if you are still reading this…

Great! You are probably asking yourself - “Will I be successful?” With a strong foundation, support, tools and resources - it really is all up to you! The mindset and the attitude are your choices. What are you willing to invest to be successful? Your time? Your energy? Your money? What is success to you?

The trust your gut and follow your heart.

A word about the Community portion of this site:

Most of you have come here for the information, facts, numbers, checklists, etc. but the value in the community here is priceless. We get more when we work together. There is plenty of work out there so don’t worry about competition. Network with each other and when you have more business than you can handle you will have a whole community of VA’s to help you!

Food for thought:

Success in Life is when your kids want to spend time with you when they are adults.

-Paul Orfalea

Kind’s founder and author of Copy This!

Next up: You, Your Life and Your Business Plan

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