The credit crunch and the looming recession will have an impact on all of us, whether it is the price of petrol and food or concerns about job security and risk of redundancy. Of course, changing direction because of redundancy or the need to balance the demands of family can open up opportunities too. The Virtual Assistant profession is one of the fastest growing in the country and many secretaries and personal assistants are setting themselves up in business. It is a trend that is set to accelerate with developments in technology and the drive by businesses to keep overheads down while still tapping into flexible resource.
A Virtual Assistant is someone who offers the services traditionally provided by secretaries or personal assistants but they do so remotely, based from their own office and using their own equipment. The vast majority of tasks can be provided remotely. This can be particularly useful for individuals and organisations which require flexible expert resource but do not want the responsibilities or financial outlay of employing staff.
So, how do you know whether you are cut out to be a Virtual Assistant and what is involved? For anyone considering setting up in business the key is to be clear about what you want to get out of it, whether this is about achieving a particular lifestyle, generating a specific level of income, building a business which you can sell on, giving you flexibility to spend time with the family. You can achieve all of those but being clear on your aim will dictate the business model you follow, whether you want to work alongside other Virtual Assistants, and getting overflow business from them, or build a business by taking on clients direct and then expanding by employing staff. Virtual Assistants might specialise in a particular sector or focus on offering specific services. Prices charged typically range from GBP20.00 to GBP30.00 per hour depending on what is required and you might consider one-off projects as well as retainer packages for a specified number of hours. If you worked 40 hours a week you might expect to earn GBP1,000.
Setting up as a Virtual Assistant brings many advantages, being your own boss gives you great scope for exploring ideas and bringing creativity into your business. It is a steep learning curve – the attributes you need to be a successful secretary or personal assistant are different to those you need to set up and run a successful Virtual Assistant business. You will need to get up to speed with basic accounts and book-keeping as well as marketing and business planning. If you are looking for a challenge then this could certainly be it. Depending on the type of business model you follow, and the type of work you are aiming to get, you can work around the needs of your family. Being based at home will also save you considerable commuting time. There is, of course, a need to put money into the business and it is important to set aside a budget. By working from home you will not need the kind of outlay necessary if you were looking for premises, which might be needed for other types of businesses.
There are disadvantages in that working from home can be lonely and some people may find this difficult. It is important to remember that you have to have the mindset that you can make your business work and not expect business to just walk in the door. Juggling the needs of clients can also be tricky. What do you do if requests for support all come in at once? You do what you have always done and prioritise. Again, depending on the type of business model you will need to put considerable time into the business. Networking is important and you will find events that can fit with your schedule early morning, lunch, evening. Attending events on a weekly basis can be exhausting but if this is part of your strategy then you will need to find the time to commit to it.
The drive for new business and all business decisions are down to you so that can sometimes feel like a lot of pressure. It is important to have a good support network around you and to never give up on achieving your goal. It can be hard work but the rewards, however, far outweigh the stresses and strains.
The experience of setting up as a Virtual Assistant will certainly take you outside of your comfort zone with the need for networking, devising promotional strategies and materials and presenting in public. That might seem daunting but if you would relish the challenge then it may well be just what you are looking for.
Lilach Bullock runs 2 full time businesses, asklilach providing virtual pa services & Virtual PA Training, helping people set up their own successful virtual assistant business. Lilach recently attended an Award Ceremony at Downing Street for best Mumpreneur. asklilach.co.uk
