Last week we began talking about five specific questions you need to ask yourself when setting up your own virtual assistant business. The first three questions we examined were:
- What services will I offer?
- How will I find clients?
- How do I create a business plan?
Let’s take a look at the last two questions that will help you build a solid foundation as you begin your new virtual assistant business.
How Will I Manage My Business Finances?
There are a variety of ways to manage your business finances but there are a few items you need to consider before you settle on a specific procedure.
First, will you register your business as a sole proprietor or as an LLC? Check with your individual state laws and regulations as they do differ depending on where you live.
Second, will you manage the finances yourself or will you hire an accountant or bookkeeper? This is merely a matter of preference and available time. If you enjoy running your own finances and have the time to do so, then, by all means, go ahead and manage them yourself. If financial management is not in your skillset or you truly do not have the time to dedicate to this, then hiring it out may be the right choice for you.
What Marketing Strategy Will I Use?
This is a very important part of the process as your marketing strategy is exactly how you are going to earn an income by finding clients. Begin by making a list of all the distinct means by which you can promote your new business. You can also pull out the list you created of specific people or businesses that may be in need of your expertise and begin there as well. Below are a few ideas to help:
- Social media marketing
- Job boards
- Paid advertising
- Cold-contacting
Another way to form a marketing strategy is to hire a business coach or invest in a virtual assistant marketing strategy. Following a tried and true method will help you gain clients immediately and give you the confidence you need to continue building and growing your business.
Have you considered the above questions when creating your virtual assistant business?