start your business

Welcome to another episode of the podcast that teaches you how to be a ridiculously good virtual assistant.

Today we are going to talk about why you should consider having your clients prepay for your VA services.

Quote: A budget is telling your money where to go instead of wondering where it went. - Dave Ramsey

Now this episode is not about budgeting of course but fyi when you google prepayment services you basically get a bunch of funeral ads. Of course you do! So instead I went for prepay quotes and Dave Ramsey cane up. And it is an important factor in today's episode, budgeting. So I'm using it! Let’s go!

To prepay or not to prepay?

It is a very common question in Virtual Assistant circles.

Some VAs start off getting their clients to pay up front. Some VAs make the switch at some point. Some VAs always get paid after work is done.

What you will do is up to you. It's your VA business. I can't tell you what you should be doing.

But I will tell you today why in my opinion it is better to get payment up front.

There are a lot of good things that can come out of getting paid for your services ahead of time.

I am only going to cover three today, but I bet they will help you decide that it's right for you.

1 Assurance of Payment

The first reason that it is a good idea to collect payment ahead of providing services is, well, so you will be sure to get paid.

One of the reasons that some VAs move to prepayment is because they got burned. It is part of the reason the I moved to it, I have no problem admitting that.

We often introduce policies and boundaries to our business as a result of things going wrong.

Chasing money is wrong. When your clients work, they get paid. You need to have that same expectation. You have plans for the money you earn.

When you get prepaid, the client pays you before services are rendered.

It's not unusual, especially these days. You have to pay ahead before you get a lot of stuff. Amazon, Ticketmaster, and even McDonalds.

Not all service providers require prepayment, but think of it as the client reserving time in your schedule for the coming month, and they need to lay to reserve it.

I can tell you a lot of sob stories about VAs doing work and then not getting paid for it. Way too many as a matter of fact.

There might be a lot of reasons why that happens but make no mistake, it sucks. It has happened to me more than once, and it could happen to you.

Protecting yourself is one of the best things you can learn to do as a business owner.

Making sure you are going to get paid is really is what I consider to be the main reason for you to change your policy around billing today.

2 Set Expectations

You are a business owner. You are not someone's assistant. Well you are their Virtual Assistant, but you are not their employee.

When you set the terms for payment, especially prepayment, you are asserting your position as the client's equal.

You get to tell them when to pay you. They don't get to decide that for you. They get to do that for their own business.

Imagine if you had a client whose customers prepaid them, and one of those customers tried to tell them they would pay afterward. Red flag! Your client would never say yes to that, and you don't have to either.

Setting expectations is important is everything you do in your VA business, but when it comes to money, it is even more important.

Your client will know that you are a business operator and that you are in charge of what happens with your policies and terms.

The one thing you have to do is be confident in your decision to collect payment in advance. If you are wishy washy about it the client will not have those expectations set.

Just like setting your rates, providing task estimates, and setting and holding all of your business policies, terms and boundaries, it's up to you! You set your rates and decide which clients to work with based on what they are going to pay you.

I can help you with setting your rates properly and setting your business policies, and even help you with what language to use to communicate money stuff with your clients.

3 Getting the Work

The last reason I'll cover today is simply a workflow reason.

When a client pays you in advance there is a better chance of them sending you the work you need to do.

How many times have you heard that a client needs so much help, and then it is like pulling teeth for then to send you anything?

Always remember that when our clients hire us they are usually overwhelmed, and we might be adding to that overwhelm as we try to get started.

It's another reason that I suggest getting ongoing important work tasks to do from the start.

When you are doing ongoing admin or marketing, you will need to communicate with them at least a few times a week. With projects, a week or more can go by and you don't create any kind of work flow that way.

Getting the work can be helped by them already having paid for it.

And on that note, don't roll over time. Don't let clients use hours over more than a month. If they don't need 20 hours a month yet, don't bill them that.

Start with 10 and then increase it. Only bill what you know you will use for their work. Use their budget wisely and in the best way possible for them.

All right. Are we getting it? Understanding it? Ready to do it??

Okay... so, prepayment. How does it work?

Your client can purchase a block of hours (that will be used in the coming month!) or they can buy a package of services that will be delivered in the coming month, or they can buy a project which starts this month.

They pay, you get to work.

You keep track of time or tasks and you give them weekly updates to let them know how you are managing their time. Not detailed time reports, just a summary update.

All clients want to know that you are managing their money well, keep them informed.

If you start running short tell them immediately. Turn down work or defer it till the next month instead of billing them a second time in the same month. If you are doing what you both agreed to at the frequency you both agreed to, you should be able to complete it on budget.

I will talk in another episode about what to do if things go off the rails, but I think you get the gist!

I also talk in another episode about how to estimate a client's service needs and how to bill properly for them. I'll tag that episode in the show notes. Be sure to check it out.

I'm going to leave this episode right here for you but I want to circle back to today' quote from Dave Ramsey.

A budget is telling your money where to go instead of wondering where it went.

When you ask for prepayment, your client is budgeting their work with you. You agree that xyz needs to be done this month. You agree that will cost the client this much. That becomes the budget for both of you to work with.

It makes things so clear for both of you. I highly recommend doing it.

And I can help you get it detailed out for your VA business. Services, rates, packages, client estimates, time management ... It's all part of doing this well.

This is exactly what I help VAs do. As a VA coach and trainer, I help you set yourself up for success, helping you fix the specific things that are going wrong in your business. When we work together either privately or in a group we talk specifically about your business and you - there is no one stop solution for everyone when it comes to service businesses like VA businesses.

I'll help you get clarity around your issues, and cheer you on as you walk through the steps to fix them.

I've helped hundreds of VAs through their challenges and got them on their way to growing their business and the lifestyle that they dream of.

I'd love to do the same for you.

Let's work together privately to get you to your really big goal. It's the fastest way to get results and we can start right away. Learn more about private coaching here.

The Virtual Circle (TVC) is a monthly mastermind group for Virtual Assistants just like you. We get together 3 times a month for group Zoom sessions to talk about what you are struggling with, working on, or celebrating. It's a close knit community of your VA colleagues that provides the best kind of support for your VA business. Learn more about TVC here.

My self study program Getting Started as a VA can help you get your VA business started easily and quickly too. You can sign up right away and be on your way to getting clients by the end of the program, with all the right foundations in place. Check out the program here.

Reach out to me if you need to talk about where you are stuck and what the right option might be to get you moving. It’s literally all I’m here to do is help you get to where you want to go. Book a complimentary Cut to the Chase call with me here.

Today we are going to talk about what you should put in your Virtual Assistant contract.

It is important for you to get your clients to sign a contract prior to working with you.

Having a contract sets you apart from other VAs, it details what you are going to do for your clients, and how much it is going to cost them, tells them how to work with you and how to stop working with you.

Professional VAs ... yes, ridiculously good VAs, use contracts.

They should include the standard stuff, client contact info, yours, but there are a few other things you should make sure to include as well. I will share those things in this episode.

But first, I want to quickly talk about putting dates on a contract. Some VAs feel the need to lock the client in to a contract with dates on it. I never did this. I actually don't recommend it unless you are working on a project.

It may feel like security for you but it really just locks both of you into something and it can be scary for the client to commit.

Some VAs do it without issue, but I prefer an open ongoing contract that you can update at a specific time (ie annually).

So let's go. What should you include in your contract?

‌Scope of Work

This is where you tell the client what you will do for them. Don't just put general admin. You want to describe in detail what you will do.

Name the tasks, describe the frequency you will do them.

This is one of the most important parts of your contract. Set the client's expectations by being as specific as you can. If you write down client care or customer service, what does that entail? You don't have to write a paragraph, but a few words to describe the task.

Include every task or deliverable you will provide.

And add in one last point that indicates you will also do other tasks as agreed upon by both of you. So you can expand or change what you do. And keeping an eye on this part is what can help you to know when yo revise your contract with that client.

Communication

You will want to set boundaries for communication with your clients. You have to, or they could start treating you like their employee.

How do they communicate with you? How do you coordinate work to be done? How often do you respond? How much lead time do you need for things?

I used to communicate with weekly production meetings and then via email the remainder of the week, so that went into my contract.

The clearer you can define your communication boundaries from the start, the better for both of you.

Schedule

When will your contract begin?

How much time are they getting from you, or what are their expectations around that? Weekly ongoing work is best!

What are your business hours, and when will you be off or away? How muchbnotice do you give before taking time off?

These are all important considerations for your contract as well.

You can have more detailed conversations with your clients about turnaround times and lead times once you start working together but schedule stuff is important to include in your contract.

Payment Terms

This is probably the next most important part of your contract.

I always say your clients want to know what you can donfornthem and how much it will cost them.

So in your contract, that refers to your scope of work and your payment terms.

How and when do your clients need to pay you? I highly suggest getting paid in advance, or taking prepayment for your services.

It makes lots of things easier, but certainly it protects you from doing work and then maybe not getting paid.

What happens if a client pays late? You should indicate that in the payment terms as well. Be clear from the start. Then if the client doesn't hold up their end of the bargain, you can handle it quickly.

Also indicate what happens if they go over budget or finish a month under budget. Do you roll hours over? Do you have a use it or lose it policy? Put it all in here.

Confidentiality

A confidentiality clause helps you let the client know that you will protect their stuff.

Tell them that you won't disclose or discuss their company info and data with anyone. Let them know how you manage secure things like their passwords or shared access files and programs.

This is called nondisclosure. It takes the place of an NDA, that's what you are covering by detailing this in your contract. Sometimes clients also ask you to sign their NDA which is also fine in my opinion.

The other thing your clients might ask of you is something called a non compete. This often means that you agree not to work with similar businesses. You do not have to agree to this and you definitely do not need to have it in your contract. Your VA business is your business. If you have a client who is worried that you will work with their competition, they might not be a good client. Some businesses need noncompetes, there are places for them. But as a service business operator an NDA is all you need.

And the last thing you need to out in your contract is

Dissolution clause.

What does that mean? It just means how you dissolve the contract, or end the relationship with that client. I include two things in this part. First is how to end it in the first 30 days. Sometimes things just aren't a fit. So give yourself and the client an immediate out. What happens if either of you want out after you have just begun?
And second, how do either of you out after that? My contracts always indicated that with 30 days written notice, either party could end the agreement.

Don't be scared that a client will leave you. If you are working well together, they won't. Do your best and you will enjoy longterm relationships with your clients.

The dissolution clause is there to help you both.

And 30 days is enough time to find a new client to replace them if you break up!

Of course, have a lawyer look over your contract to make sure it protects you and reads correctly. But you don't have to give your clients legalspeak. You can use normal business language and still have it legally sound.

That's it! That's all you really need in your contract.

I hope I have helped you see that it's not crazy technical, amd why each of these sections are so important.

Your contract is an essential document in your business. Do not do business without it.

And do be sure to review the contract at least annually with your client, or when your work scope changes significantly.

This is exactly what I help VAs do. As a VA coach and trainer, I help you set yourself up for success, helping you fix the specific things that are going wrong in your business. When we work together either privately or in a group we talk specifically about your business and you - there is no one stop solution for everyone when it comes to service businesses like VA businesses.

I'll help you get clarity around your issues, and cheer you on as you walk through the steps to fix them.

I've helped hundreds of VAs through their challenges and got them on their way to growing their business and the lifestyle that they dream of.

I'd love to do the same for you.

You can work with me privately, or you can join The Virtual Circle, my mastermind group for Virtual Assistants. Check it out at [www.YourVAMentor.com/TVC] (the virtual circle) - I bet it's exactly what you need to start running the VA business you dreamed of.

Reach out to me if you are interested.

That's all I've got for you this week, see you next time!

Welcome to another episode of the podcast that teaches you how to be a ridiculously good virtual assistant.

Today we are going to talk about how I became a fully booked out VA - and how you can too. It’s really not as hard as you think!

Quote: In the business of referrals, trust is the most important reason a recommendation is made and, conversely, lack of trust the single greatest reason referrals don't happen. - John Jantsch

Now of course we aren’t operating an MLM here, but a service business grows easily when others send you more clients. And that’s what we will talk about in today’s episode. Let’s go!

Building an amazing Virtual Assistant business is not a difficult thing to do. You find a client, you do great work, they tell their friends about you, and you get more clients. Right?

Becoming a booked out VA is something that we all dream of - and strive for - when we start our VA business.

The most difficult thing you will do in your business is find great clients.

I talk often about finding great clients because running the business you love is all about the quality of clients you work with.

When we start our VA business, we will work with anyone who asks us to. And that’s not a bad thing. We need money to run a business, and when we are starting out it is totally okay to work with anyone.

But … as we build our business, we want it to be sustainable … profitable … fun … and fulfilling.

And that means finding the best clients we can.

It means finding a lot of them. And it means finding their colleagues, and getting referrals.

Today’s quote tells us that trust is one of the deciding factors of whether to pass along someone’s name or not. You know it yourself, you give a referral for someone when you think they can take care of your friend. Our clients are no different.

Becoming booked out is a term that a lot of VAs are jealous of - especially if they aren’t booked out.

But it’s what we all work towards. So let’s talk about how you can do it.

I’ll set the stage a little for you, about how it all happened for me.

I started working for myself in 1998 just before I had my son. I was 7 months pregnant and I was leaving my job at the head office of a hospitality company. I didn’t intend to go back to that job, and I wasn’t really sure what I was going to do, but for a few reasons I knew I wasn’t going to be going back there.

First, I didn’t like the job. I liked parts of it, but some of what I was doing was kinda dull.

I definitely didn’t like the office life. Commuting, rush hour, figuring out what to eat for lunch every day, constant interruptions in my office … it just wasn’t my vibe.

I loved my coworkers, but I found corporate life to be really a bore.

Oh, I suppose I should mention that I had only worked at that position in the company for a couple of years. Prior to that I had been a kitchen manager in the company. So definitely not an office job!

Some quick background: I never really knew what I wanted to do. I started working in high school in hospitality and then quickly moved on to several different admin jobs. I worked in the government, private sector, community newspaper, as a courier, a sales rep, and many other jobs until I realized I didn’t love any of them. I thought about what I wanted to do and it was hospitality - so I went back to school for my catering management diploma and stumbled into the company I ended up working 8 years for. When I was in the kitchen there was a lot of admin, and I naturally gravitated to that. I loved cooking but I was really good at the admin, so I moved to corporate office. There now you’re caught up ha ha.

Anyway, I met my husband at restaurant (he is still a chef) and we got married and have a 25 year old son now (who is also a chef). When I was leaving on mat leave I knew I wasn’t going back, that’s where we were.

I again thought about what it was I wanted to do, and actually my boss answered that question for me.

He asked me if I could contract to do the important work he still needed (the stuff I loved) after the baby arrived. I told him I didn’t know how, and he said ‘We’ll communicate by email, meeting if necessary. You do the work, count your hours and send me a bill at the end of the month.' Voila, I was a freelancer.

Why was I a freelancer? Because my boss trusted me with the work he needed done. In fact he had done the work before me. So he knew it was valuable, and he knew he wasn’t doing it anymore, so he had to suggest a ways for me to do it.

And so we began. That was great, and I did it for a lonnnnng time!

The problem was, it wasn’t a lot of money to start, just working for one client … and I had no idea how to get other clients.

So the second part or the story is my struggle.

I did everything I could think of to find clients. Fiverr, Upwork (they were called other things back when I was there), classifieds, local bulletin boards, yellow pages, cold calls, direct mail, job boards ,… who knows what else I tried.

I worked my butt off trying to find clients. Did I find some? Sure I did. But I heard a whole lot more NOs than Yesses. I heard them every day.

I thought that’s the way business was supposed to be.

But it’s not.

If that’s what you are going through right now, I want you to pay really close attention to the next part of this episode.

Business doesn’t have to be hard. At least the getting great clients part doesn’t.

I tell you every day. Find your people. Connect with them. Get great clients.

Why do I tell you that? Because it’s the key to having a thriving business that you love - with more clients than you know what to do with.

I did it. And you can do it too.

It’s not hard. I tell you that all the time. And I’m not lying.

Did I struggle? Oh yeah.

Did I fail? You bet!

Did I learn? Yep … and that’s the key right there.

To find the best clients for you … you need to learn how!

I use the term ‘great clients’ all the time. You probably have noticed that. Because not all clients are equal.

Are they all great people? Probably! But they are not all great clients.

A great client is someone that needs the services you love to provide. They have a growing business that depends on your support to make it fantastic. They value you and your business. And you work well together. And they want you to succeed as much as you want them to succeed.

Great clients need us, appreciate us, value us, and PAY us.

Those are the clients I want you to work with. The clients I want you get BOOKED OUT supporting.

Don’t fill your VA business for the sake of filling up your week.

Set your rates where they need to be for you to earn good money. Work only with the clients you want to work with (no more micromanagers!). And do only the things you love to do every day.

How did I get there?

Easy. I worked with my first business coach in 2008. Now if you’re paying attention to the years in my story, that’s a full 10 years after I started working for myself.

TEN. YEARS.

I didn’t struggle the whole time but I sure wasn’t flying for a long time.

And then when I got introduced to my business coach (through one of my clients), I learned how to find clients.

I actually joined their high-level mastermind group (which cost me $750 at the time … probably at least 30% of what I was billing at the time)

I learned a strategy, and system that worked for me.

I found the people that I could help.

I hung out with them.

I talked to them and their colleagues every day.

And … I doubled my rates overnight.

My business coach looked at what I was doing, asked me what my revenue goal was (I didn’t even know!) and we made the necessary changes to put a plan in place to get me there. Within months I was booked out and on a waiting list.

I raised my rates and I focused on the services that I loved to do - that I was terrific at - and that my clients really needed. I started offering packages and prepaid retainers. No more hourly billing, no more unused hours to roll over. No more waiting on clients to send me stuff to do.

I became proactive and talked to them about ongoing work. Things they needed to have done regularly - weekly if possible. I held weekly meetings to keep us on track. I was no longer a task doer, I was a required part of their business and I kept all of their balls in the air.

I also created a high ticket service that I was able to offer my clients on a project basis, and that was a great thing for my business too. My clients referred their colleagues to me, and I was able to attend networking events and live events where all of their colleagues were.

Getting known in the community of people that I knew I could best support, that could allow me to build the business I wanted, was the key to being booked out.

And it happened fast! Once I knew what I was doing.

But the bottom line was that before that, for 10 years! I had nothing in place to build my own success. Nothing.

I was flying by the seat of my pants every day and just hoping something would stick.

I needed a plan and I got the help I needed. I learned what I didn’t know, and I got to where I wanted to go. FAST.

I didn’t do it alone, and you don’t have to either.

I can help.

I’ve been helping VAs for 13 years. Two years after I made all my changes, I started teaching VAs how to do the same. It was at that time I launched my Getting Started as a VA program that continues to help VAs today.

When people trust you, they love to do business with you. That’s also part of the reason I do so much free training - including this podcast. I want you to trust me to help you with your business. I have been where you are. It’s not a fun place to be. I don’t like to struggle and I don’t want you to either.

You don’t have to. I can help you get out of where you are and create a plan that will work for you.

I’m going to leave it here for you today after this quick recap:

How do you become a booked out Virtual Assistant?

• work with a coach
• set realistic rates (do the math)
• create packages
• find your people
• network every day, attend events
• ask for referrals

And of course the most important (and easiest!) part - do a great job for them!

Gathering testimonials is secondary to people talking to their colleagues about you. When you are a ridiculously good VA, your clients' colleagues will ask how they are doing so well - and they will mention you!

Becoming booked out means you being an important part of many clients' businesses. An indispensable part. The need you, They value you. They will pay you what you are worth, because they are confident that you are worth it.

Don’t wait 10 years like I did. You don’t have to. I can help you TODAY.

‌

This is exactly what I help VAs do. As a VA coach and trainer, I help you set yourself up for success, helping you fix the specific things that are going wrong in your business. When we work together either privately or in a group we talk specifically about your business and you - there is no one stop solution for everyone when it comes to service businesses like VA businesses.

I'll help you get clarity around your issues, and cheer you on as you walk through the steps to fix them.

I've helped hundreds of VAs through their challenges and got them on their way to growing their business and the lifestyle that they dream of.

I'd love to do the same for you.

You can work with me privately, or you can join The Virtual Circle, my mastermind group for Virtual Assistants. Check it out at [www.YourVAMentor.com/TVC] (the virtual circle) - I bet it's exactly what you need to start running the VA business you dreamed of. And I promise you, it won’t cost you $750 a month! It’s only $129.

If you want even faster results, private coaching could be the option for you.

Let’s talk about it. I’m here to help you. If you’re stuck, reach out.

That's all I've got for you this week, see you next time!

Starting a service business like your VA business is relatively easy, because there isn’t a lot of startup cost, but let’s see how much of a shoestring you need. Let’s go!

I like a bargain. I check prices when I grocery shop.

I look for ways to save money on things that maybe others don’t.

I’m not afraid to admit that I am cheap. With some things.

My husband and son tease me all the time about some things that I save money on.

But I also know when I have to spend money on something.

So, this is definitely a podcast episode about starting your VA business on a shoestring - as the title indicates.

I’m not baiting and switching you, I promise!

I do tell Virtual Assistants that service businesses can be opened relatively easily - and you don’t need a huge startup fund to get going, but what I’m going to talk to you about in this episode is the following:

what you need to have to start professionally

what you will need to plan for down the road

what you may never need

and what you need to prioritize.

Need to Have

• cell phone
• internet
• office software
• dropbox account
• time tracking software
• paypal or other online payment option
• password manager
• social media accounts
• social media scheduler

You must have a dedicated space to work as well as dedicated equipment to do so.

Although you work from home and people may know that you have children, you want to keep business business as much as possible.

Yep, I said it … keep your kids away! No matter what age they are. Don’t share computers, don’t share space.

In order for you to maximize your work time, you need to not be distracted.

Time is money for your clients, and if it takes you 3x as long to get their work done because you are getting distracted, they will soon move on to someone else who can things turned around faster, or who charges them less for the work being done.

If you truly want your business to work, make it a huge priority.

That means your own cell phone, your own computer, your own desk and office space, with a door!

You also need high speed internet access. I probably don't need to say much more about that, but there ya go. A strong and stable connection will help you get your work done efficiently. If you waste time because you lose connection or because your speed is slow, once again that is your client' money you are wasting.

You will inevitably need office software like Microsoft 365 which I find well worth the low monthly price. I can access all of my files and work from my phone or other devices as I need to. You can also look at Zoho office or Open Office, but being that most of your clients will be using Word or something like that, you should be sure to pay for an annual subscription.

Cloud sharing is really important so our clients can find what they need when they need it. Dropbox is a great option - as is Google drive. Also if you are working for someone as a sub, they may require you to have access to one or both of these to share work. So just set it up when you start.

Time tracking software is essential and there are a lot of free options. Even if you don't want to work by the hour (it's pkay to do this) or give your clients detailed billing (please don't do this) you still need a way to track your time so you know what you have spent your time.

One of the biggest problems VAs come to me with is not knowing how their monthly billing is so low when they feel like they work all the time. They are not managing their time well, that's usually the big issue.

So track yours, so you know. It's not about working fast, it's about working efficiently.

PayPal is a great way to receive client payments. Your clients can use a credit card to pay you easily without you setting up a merchant of your own.

Yes there are fees associated with PayPal, but that is true about any online payment option (and they aren't always that much less than Paypal). The fees are a business expense deductible for you, so work them into your rates and you won't even have to think about them. You should be setting your rates covering all of your expenses anyway, but if you are wondering what you might incur, 5% should more than cover it. Usually a merchant will charge you 2 or 2.5 and sometimes a transaction fee on top of that. Paypal is on the higher end at 3% but again if you are using it, charge for it and claim it. And PayPal also allows to send and receive money in many different currencies.

Online payments are a convenience worth paying for. EFTs are an option in Canada but a US client can not pay you with one in Canada.

A password manager is essential for your VA business. If you are logging in to your client's accounts, you need a safe way to do that. There are lots of options, some are free. All are cheap. I use Roboform and I love it. I have one master password to access my list of passwords, but each password in the system is unique and can be changed at any time. I can access all of my passwords from any device I have and that makes it easy to never have to remember anything.

You will need social media accounts, and yes those are free. Figure out where you need to be and what you want to use each for. I always suggest Facebook and Linked In for sure. You don't need to use your personal FB profile for your business. I don't. I don't friend business acquaintances or clients. I join groups with my profile but that's it. Anyone who wants to connect with me on FB does so through my page and my groups (and any groups I have joined).

Set up a page for your business. That's what you will need on Facebook so people can check you out. Then link that page to your profile so that when people go to check you out, they can see your business page where they can follow you with a click.

LinkedIn is also a good place to be because it's all business. It is a great place to find VA clients.

You should also have a way to schedule posts on social media so you don't have to physically be going online all the time to post content. Scheduling also helps you to plan what you will post better, which is part of your time management.

I use Metricool and it's free!

That's all for what I think you need to have to start out. Pretty decent list and it's very reasonable.

Plan For

What about what you should plan for?

Scheduling software - this will save you lots of back and forth with clients and potential clients. There are reasonably priced options that send reminders, work with Google and iCal. It is professional and easy for clients to get into your calendar. Calendly is what I use, there is also Acuity and many others.

Graphics software - Canva is by far the most popular. There is a free version but the paid version allows you to do so much more for about $15/month.

Website - while you don't need a website to get started, you should plan for one. A hosting plan can run you $100 a year for your first year, and maybe beyond too. Some companies offer a very cheap first year to get your business. One caution, you do not want to be moving your website every year, so budget for the cost of the second year from the start. And take the discount the first year. Other than hosting, design is the other thing. If you are not offering website creation as a service, it makes the most sense to have someone else set up a simple site for you and then learn on your own time to add to it and adjust it as necessary. That doesn’t have to cost thousands of dollars, but it will save you hundreds of hours of time if you try to learn it yourself. I’m not even kidding.

Backup software - whether you use an external hard drive or a service like Carbonite for $60/year, it is well worth it to make sure you back up your documents files, programs and more.

Project management - you may be able to manage your work without a project management system. If It's just you and your client, you can use email and dropbox if you like, but it sure helps having checklists and stuff to keep everything organized. For $10/month Asana is a great option. Trello is free if the visual layout works for you.

Bookkeeping software - makes things easier than doing it all manually! Quickbooks Online is a great option for about $25/month.

Training - you will inevitably take training to improve your skills or business. Budget for it and plan to implement what you have learned asap to make the most of your ninvestment.

Coach - because you know you want to work with me! The fast path to your goals.

Insurance - business insurance is not mandatory for VAs but it is a good idea if you are working with sensitive information of your clients, or managing their reputation, or accessing their client data, and and and.. Plan for it as early as you can afford it.

Taxes - plan for your taxes, because you will have to pay them! Save at least 30% and then plan for as many deductions as you can.

May Never Need

• website
• project management
• bookkeeping software

You may never need these but if you budget for them and set your billable rate accordingly, you can have them and your business will be more professional and efficient!

Prioritize This

Finally, what should you prioritize as expenses?

• Dedicated workspace and equipment
• Help with what you don’t know
• Time management stuff
• Security for your client’s data and info, and yours

I’m going to leave it here for today … I could literally go one for hours about how to set up your VA business, run it professionally and efficiently!

I know I covered a lot, but look at all the time I spent on what you need that isn’t going to set you back tons of cash. Not too much expense, eh?

But let’s circle back to today’s quote: A business without a path to profit isn't a business, it's a hobby. - Jason Fried (Basecamp)

If you want to run a solid, profitable business, you need to spend money. You need to know your expenses and manage them well - and don’t be afraid to invest in stuff. It’s your path to success.

That's what I want you to know today. What is most important.

I hope you have a good list going right now!
‌
I can help you with advice just like this about all areas of your business!!
‌

This is exactly what I help VAs do. As a VA coach and trainer, I help you set yourself up for success, helping you fix the specific things that are going wrong in your business. When we work together either privately or in a group we talk specifically about your business and you - there is no one stop solution for everyone when it comes to service businesses like VA businesses.

I'll help you get clarity around your issues, and cheer you on as you walk through the steps to fix them.

I've helped hundreds of VAs through their challenges and got them on their way to growing their business and the lifestyle that they dream of.

I'd love to do the same for you.

You can work with me privately, or you can join The Virtual Circle, my mastermind group for Virtual Assistants. Check it out at [www.YourVAMentor.com/TVC] (the virtual circle) - I bet it's exactly what you need to start running the VA business you dreamed of.

Reach out to me if you are interested.

That's all I've got for you this week, see you next time!

Don't let fear beat you. Listen in today and see what failure can do for you. I share a story that I came across in one of the book series I have been listening to on Audible. 

You can check out the series here: A Pattern of Shadow and Light

Let me know something that you used to think was a failure but now you know it was indeed a friend, email me at jared@upyouraveragepodcast.com

Additional Links:

Book your podcast coaching call: https://www.upyouraveragepodcast.com/podcastcoaching

Schedule a call: upyouraveragepodcast.com/coachingcall

7 Ways to up your average mini-course: upyouraveragepodcast.com/7wayscourse

7 ways to up your average pdf: upyouraveragepodcast.com/7ways

Email: jared@upyouraveragepodcast.com

website: upyouraveragepodcast.com

Starting a small business is hard. Your ability to navigate obstacles and achieve critical goals will make or break your startup. On today's Business Beat, Jeff explores a study from CB Insights highlighting the most common reasons businesses fail.