Just before my 31st birthday, I took a leap of faith by leaving my safe corporate job and starting my own Virtual Assistant business. With a 16 month old on my hip, I hustled and was quickly making MORE than I was at my corporate job.
I believe so strongly in the power of women, and that we can do ANYTHING that we want. For me, that meant raising a business and a baby at the same time.
After transitioning my business to offer Online Business Management and Event Planning services (and growing my income substantially), I started helping other moms start and scale their own Virtual Assisting businesses.
So today I’m sharing the first 4 steps in starting YOUR virtual assistant business. Let’s get to it, friend!
1. Decide on your starting hourly rate
Hourly rates vary greatly depending on the industry that you’re serving. In the industry that my team and I support (online business owners), Virtual Assistants charge anywhere from $20-$75 per hour depending on their skills. Start at a price point that you feel comfortable charging AND that is enough money that it’s worth your time. Then, up your prices by $5/hour every 1-2 clients.
2. Decide on how you will package your services
Will you use a retainer model and require clients to commit to a number of hours monthly (5,10,15,20)? Will you charge hourly without a minimum and complete any work that the client needs? Know that you can change this as you gain more experience and higher-end clients. In the beginning of my business, I did a (10) hour retainer package minimum.
3. Decide on your billing structure
In the industry that my team and I serve, it’s very common to ask for payment BEFORE you begin work. Figure out what is common in your industry and what makes sense for you financially. I have always required payment on the front end before any services were rendered.
4. Decide on the services you’d like to start out offering
Decide on the services you’d like to start out offering. Figure out what you are already comfortable with and also what you’d like to learn and tell potential clients exactly that!