How to Start $1,000,000 Virtual Assistant Business With $0

 How to Start $1,000,000 Virtual Assistant Business With $0



Virtual Assitant business




In today's article, I'm going to help you to start a 
$1,000,000 virtual assistant business even if you have $0.


    Introduction


    There is a sequence of steps that you need to do. And you can repeat that process. And this is a really great business model because then you can charge on a project base or fixed price projects, it's still recurring. But every month, the client knows that they pay this amount and you just repeat and do that work. This means that you can just hire more people, train them, and you can really just scale. 


    Know your own strength

    The first thing you need to do is to figure out what your experience is?


    So what industry have you got experience working in? Who do you know that has money that doesn't have time and then finding time to talk to them and learn more  about what you can help to offload from their plate because everyone is busy. Everyone likes time. So in the VA business there, it's a lucrative business, it's a business that is easy to do because everyone just needs more time. And so your challenge is or your task is to figure out

    • Who can pay you?
    • Who do you have experience in helping and learning?
    • What is it that they need help with?
    • What is it that they need to offload tasks to?

    So that they could free up time to spend more time with their family or grow their own business. So the reason why you need to do that is so that you don't come out there thinking of an idea for yourself and thinking that okay, I'm just going to push this idea out. Instead, you'll find the people who are the real problems that if you can find them the solution and find the right people to do it, then they will pay you for it.


    So it's always good to start on the client-side rather than starting at your side on what you want to do. But of course, I always encourage you to find something that you're passionate about or you're interested in It doesn't necessarily mean you need to know how to do it. But you want to know that you know how to find the solution or you're excited about finding the solution for it. Because with the power of outsourcing, you don't have to depend on yourself, you can use other resources to help you. But you do want to start by doing something that you love, but also with something that you're experienced in. 


    Assess the business model

    Now the next thing you need to consider is your business model. So a lot of virtual assistants start off selling their time for money. So they basically work the hours and just do whatever the client wants, and then just charge them by the hour. Now with that business model, you know that there's going to be a capacity issue, you're going to only have a limited time. And you can only handle X amount of clients. And also, it means if you're not working, you don't get paid. So ideally, it's not a really good business model to follow.


    Now the next business model from that is that you can still be offering an hourly basis, and do all sorts of different tasks for the clients and charge them by the hour. But instead, this time you hire a team, you have outsourced workers to do the work for you. So let's just say you were doing some social media work, and you're charging people at $50 an hour. Now you then find someone that can do it cheaper, maybe at $10, or maybe at $20, whatever it is, as long as it's less than what you're charging, then you are making a profit from each of the hours that they're working. That means you can take on more clients, you can take on more work. 


    Now, normally a client in Australia would pay up works of $100 an hour or even $150, maybe as low as $75. But I came across at $45 which is equivalent to what they would normally pay like a marketing local assistant and for that amount I then get things done from a web developer, a graphic designer from the Philippines at a cheaper rate. Now, I can't hire someone in Australia to do web development or graphic design for less than $50. But I can definitely get people from overseas to do that work. So I'm still able to offer at a really good rate to the client means that they will pay $45 instead of $100, or $75, etc., they will still be getting good quality work, because I'm project managing it, I'm hiring people that are cheaper, but they're still very qualified and experienced. But I'm just making sure that I understand the job really well, checking the work, and the clients will get some result, they get to pay cheaper. 


    Finding Niche


    Finding Niche

    Now the next thing that you might want to consider is focusing on a particular service so that you can really scale. So if you start a business, and you don't just do all sorts of services, but you only do a specific service, maybe you produce YouTube videos, or you do YouTube marketing for business owners, then there's an A-to-B process, there is a sequence of steps that you need to do. And you can repeat that process. And this is a really great business model because then you can charge on a project base and fixed price project, it's still recurring. 


    But every month, the client knows that they pay this amount, and you just repeat and do that work. This means that you can just hire more people, train them. And you can really just scale and you can find partners to refer you and you just sell this particular service. So this is a really scalable business model because it's repetitive versus the hourly rate where you're still custom making or customizing each of the quotes for different clients' offerings, asking for different things. But when you come up with a particular service or niche, this makes your business model a lot easier to scale.


    Where do you hire the people?


    Hiring


    To help you in your virtual assistant business. So, assuming that you agree with me, it's not about selling your time anymore, but you really need to scale a team of virtual assistants, then where you can find people is if you want to start off with project-based and there are sites like Up work, fever, Freelancer, Elance whatever it is, you can find people just to do project-based. But as you scale and you want stability, and you want to have reliability that these people will keep coming back or knowing that you can count on them to work putting in this time, then you need to find someone more on an ongoing basis.


    So for example, sites like online jobs and other sites. For us, we even find people on Facebook groups, that people are looking for jobs. But overall, you're looking for permanent staff. So you're looking for people that are willing to work long term. So you go to a different site for that. 


    You can really hire people from anywhere. It's just as long as you understand how to work with them, you know their culture, you know how to work with them. But for you, maybe your passion is to create virtual assistant jobs for people in your own country. So then, I encourage you to look into that and look for sites that specifically offer resources from those countries so that you could help them have a job as well.


    Okay, so once you've got other virtual assistants to help your virtual assistant business, then

    • How do you actually work with them?
    • Well, it really comes down to
    • What tasks do you want them to do? 

    Create those processes, create systems and set your expectation. Know what time you want them to work, know what deliverables that you want, and start to create and brainstorm all your instructions and tutorials so that you can train them. But in order to work with them though, you do need to set up some tools. 


    Tools

    So for example, you need a communications tool. So where are you going to chat with them? If you jump around from WhatsApp to Facebook and all that, which is not really ideal because they're not really a work messaging app. It's not very user friendly to be able to find documents and attachments easily. So I would recommend something like Slack. So we were using Skype for a long time. But once again, if you compare Slack to Skype, Slack is much more helpful, useful because there are so many different channels that you can create to talk about different topics. And you can create threads so that you don't get misunderstanding about what are we actually communicating about. So Slack is really great for work environment communications. And another tool that will be useful is somewhere that you can manage the tasks with your virtual assistant.


    So, if you're delivering work to your client, then you want to know where things are at, you want to assign tasks, you want to set delivery, due dates, you want to attach things in there and not get confused. If you just use emails, it can get really get lost. Whereas with a task management system, you can write a lot of to-do's, different categories, different tasks and you can really know where things are at.


    Now, another tool that's really useful is a screencast recording tool. So something like Screencast-o-Matic or Loom, there are different types of screencast tools out there, but I personally have been using Loom lately. That's because it's really easy to use, once you install it into your web browser, or even as an app, you can just click on it, and then it gives you an option to record your screen, you can record it with your face in the video, which gives it more context and emotions and people will get it more or just purely screencasting the screen. So it shows the movements of what you're talking about. Because no matter who you're working with, even if you're working with someone local, but if you're on the phone and explaining, on that page over there, where it's a red sign or whatever, it could get so confusing, because you don't know what you're talking about. But if you're really screencasting your screen and showing the mouse over areas that you're talking about, then no one can really misunderstand that. So you know, don't get lazy when it comes to giving instructions. Because sometimes people are, I'm just gonna send a quick message on a call or send an email, but then you're just going to waste more time project managing and getting the wrong work done. And then having to give feedback again, and then going back and forth. Whereas I save time by giving the correct instructions first by screenshotting, or screen videoing your instruction. And then you can even use those instructions for more people to work with you in the future. So you can start to create all your tutorials, which will form your process. And so even if that virtual assistant can't work with you anymore, then you're not stuck, you know that a new virtual assistant can just watch those videos. 


    Conclusion

    I hope that you've gained some insights on how to work with a virtual assistant to build your virtual assistant business. But if you have any more questions about how to build your own virtual systems business, let me know in the comments below. If you want to watch more content like this, check out some videos here.

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