When you’re faced with a long commute to a job you’ve fallen out of love with, it can be tempting to set up your own business as a virtual assistant. Before you make the leap, take time to consider the pros and cons, advises Susan Moore
Freedom to choose
Running your own business is hard work, but the benefit is you’re free to choose who you work with. If you’re interested in collaborating with a specific type of business, such as the creative industries, you can focus on providing support to photographers, web designers and graphic artists for example.
Finding your niche makes it simpler for you to market your business and easier for your ideal client to find you. It doesn’t mean you should turn down work from other types of business when you’re first starting out, but it does give you something to aim for. If you’re genuinely interested in your clients’ business, you’ll do a better job and learn a lot too.
Isolation
Working for yourself involves having to make a lot of decisions on a daily basis that can be difficult when you’re dealing with a tricky situation. In the workplace, you’re part of a team and can discuss these issues with colleagues, so on your own you may feel isolated.
The key is to build your own network of like-minded business owners – including other virtual assistants (VAs) – so that you don’t feel cut off. Joining a business network and working in association with other VAs is invaluable, plus you’ll get the benefit of their experience. Making time to go to face-to-face networking events will also raise your business profile.
Most VAs work from home and losing the social side of work can be difficult. Take time to meet up with other business owners for a coffee and find out about them. You never know, there could be a potential client among them, or someone who could make some useful introductions.
Work/life balance
Working for yourself gives you the opportunity to work when you want to. In practice, this can be difficult, but if you have a clear vision of how working as a VA fits with the rest of your life, it can be done. So if you’re planning to write a book, or you want time to spend time with your family, build it into your weekly schedule.
Most business owners will tell you they work longer hours than employees. You are responsible for every aspect of your business, so it’s not just about getting clients’ work done. You also have to do the invoicing, accounts, marketing and sales. Again, build these tasks into your weekly schedule and once you’re making a profit, you can delegate the jobs you don’t like.
Make sure you plan for the times you’re away from the office and don’t work while you’re on holiday. Saying that, one big plus is that you can work from anywhere, so if you fancy spending a few months overseas, you can take your business with you. All you need is a good broadband connection.
Lower income
Virtual assistants are self-employed business owners, so you don’t have the security of a regular monthly pay cheque. Hourly rates sound attractive but because you are running the business as well as doing client work, you’ll rarely be able to bill for every hour of every day. You can make a decent living, but it takes time to build your client base.
Save the planet
Ditching the commute will substantially reduce your carbon footprint. A paperless office is also kinder to the planet and working in the cloud means you can be based in any location.
Flexible working
The biggest advantage of working as a VA is the flexibility it gives you. If your children are sick, you can care for them and still get some work done. Instead of commuting you can go for a morning run, or you can combine your VA work with building another business or outside interest.
Susan Moore is the founder of Moore VA and runs regular workshops for EAs and PAs who want to launch their own virtual assistance business. Find out more at mooreva.co.uk
