In the new book How to Start Your Own Virtual Assistant Business, author Jason R. Rich and the staff at todaybusinessupdates.com laid out everything you need to know to start a lucrative side business or full-time business. In the following excerpt, Rich explains why now is the ideal time to use your skills and experience to create a new income stream.
Why be a virtual assistant now?
While virtual assistants have been around for as long as the internet, these positions are now more diverse in their responsibilities and more widely accepted than ever. In 2021 and beyond, working as a virtual assistant (or VA) can be an incredibly prosperous career path.
Every day, customers hire virtual assistants to perform a wide variety of both ordinary and highly specialized tasks. If you have specialized skills and/or experience in writing, bookkeeping/accounting, social media marketing, web design, travel planning/coordination, telemarketing, executive administration, data entry, appointment booking/schedule, project management, database management or research, for example, you may earn a higher income than a VA who handles more general or administrative tasks for clients. As a virtual assistant, differentiate yourself from your competition by developing a niche.
Related: How To Start Your Own Virtual Assistant Business Now For Sale
Cindy Opong, the founder of Creative Assistants, explains her company: “In my opinion, the role of a virtual assistant is to support and in some cases run the back end of a client’s business so they can spend their time and effort on what they are really good at. Personally, I specialize in working with [former] top executives at companies that are now starting or running their own consulting firms. These people were used to having an executive assistant in the corporate space, and many do not know how to perform the core duties that an executive assistant would normally do. I’ll come in and take on that remote role for them.”
How much can you earn as a virtual assistant?
In 2020, the Association of Virtual Assistants conducted a survey of more than 500 working virtual assistants for its VA State of the Industry Report. In the survey, 93 percent of respondents said they “enjoy[ed] freedom and flexibility” work as VAs.
The report also found that 38 percent of respondents worked 20 to 30 hours a week, while 26 percent said they worked more than 40 hours, 24 percent 10 to 8 hours, and 11 percent 1 to 10 hours.
In terms of hourly rates, the report states that 58 percent of virtual assistants earn $26 to $50 an hour, 23 percent earn $10 to $25 an hour, 18 percent earn $51 to $100 an hour, and only 1 percent more than $100 an hour. o’clock.
In terms of monthly income, 33 percent reported earning between $2,001 and $5,000 per month, 26 percent earned between $1,001 and $2,000, 16 percent earned between $0 and $500, 14 percent earned between $551 and $1,000, and 11 percent earned more than $5,000.
Related: Check out what the discount section of the todaybusinessupdates.com Bookstore is
What you need
One of the biggest benefits of being a virtual assistant is that your location rarely matters to your clients as long as you can be reached during their business hours and get your work done on time. However, some clients prefer VAs who live and work in their time zone, even though they may never meet in person. Working as an independent contractor from your home office makes you your own boss. You determine your rates, determine the number of hours you want to work per week and make your daily schedule. As an todaybusinessupdates.com you are also responsible for:
- Find and manage your customers
- Marketing and promoting your business (online and in the real world) P Taking care of bookkeeping and accounting
- Invoicing (and collection of overdue invoices)
- Keeping your skills up to date
- Meeting your deadlines
How do you get started?
Read how to start your own virtual assistant business now available for a fully detailed guide to setting up your business, finding clients and turning your expertise into a new revenue stream.
