Virtual Assistants are the modern personal assistants of people who are busy with their companies, businesses and even personal agendas. They do the same tasks as PA’s like organizing files, scheduling appointments, typing and documenting, email handling and the lists could go on. The only difference is that a Virtual Assistant works remotely from his/her employer and their means of communication could be through the Internet, phone calls or fax.
The Pros of Starting a Virtual Assistant Business
Your business can be entirely home-based.
Startup costs are minimal, especially if you already have a home office set up.
You can provide general business support services, or specialize in a specific area such as real estate,social media, Internet marketing, etc.
You can create a business with flexible work hours.
There are hundreds of high-quality resources online to advance your skills, knowledge and experience.
You get to use exciting and fun software and tools every day.
You can grow your business to the point where you outsource extra work to subcontractors.
There is no specific education, training or certifications required to become a virtual assistant.
You can provide ongoing services for your clients and create long-term relationships.
The Cons of Starting a Virtual Assistant Business
It can be difficult to get clients when you first start your business.
You may find that you’re competing with offshore support people who charge a very low hourly rate.
As the industry grows, so does your competition.
It can be difficult to identify the right rate to charge.
You have to be willing to continuously keep up with technology and expand your knowledge.
You have to be careful to maintain independent contractors status as defined by the IRS.
You may find it challenging to work with clients who are used to hiring employees instead of delegating to another business owner.
Your work could be high-stress and deadline-driven.
You may need liability insurance, depending on the services you offer.
Virtual Assistants are popular nowadays and almost anybody wishes to become one especially with the kind of economy we have causing an increase rate of unemployment.