Great Question!
The answer is going to be different for everyone, and only you can answer this based on the level of risk you’re willing to absorb and whether the benefits of becoming a virtual assistant outweigh these for you.
You have certain rights as an employee that you lose when you become a business owner, and starting from scratch can mean losing a reliable income.
If you can’t afford to lose the stability of employment, you may want to consider both!
Both? What?!
Many VAs are full-time employees who are building up their client base outside of their regular work hours.
They make the leap when the timing works for them.
Some resign completely once they have enough clients, while others work on transitioning to a part-time role with their current or new employer.
As your VA business grows, you can work on transitioning to a part time role with the same or new employer.
If you land a client who wants to increase the work they are delegating to you beyond your current capacity, you will then be in a position to decide whether you are ready to give up your employment, or to outsource to another virtual assistant as a subcontractor – you could jobshare with them or have them complete all of your client’s work under your brand (while making a tidy margin on the work you have won).
We already have Virtual Assistant Lead Network members who are applying with the leads we post, who are also posting subcontractor VA roles for other network members to join their team. You can do the same thing, or you can be rewarded for sending VA Seekers to list directly with us.
As for whether setting up a VA business is worth the effort… YES!
YES!
Firstly, the overheads of setting up a VA business are very low.
I’m now responsible for budgeting and saving for my own super, tax, insurance and holidays. I built my website (though you don’t need one), worked out what services I would offer and started creating my own marketing collateral… I had to get agreements and business processes in place (and be ready to evolve constantly). I have to negotiate rates and regularly invoice my clients. …. AND I’VE LOVED EVERY MINUTE OF IT.
Every step you take while you build your own Australian virtual assistant business will:
- Help you understand Australian business owners and some of the struggles they’ve had to deal with (and for many, still are), so that you can talk to the pain points you want to solve in your own marketing.
- Give you an understanding of the tasks you loved, and those you would outsource if you could >>> this helps you to determine what services you want to offer and which you will definitely not be helping your clients with.
- Force you into professional development for the areas you have no experience in, so that you will have a well-rounded knowledge backed by real experience when you’re talking to leads (potential clients).
Becoming a business owner doesn’t just mean you’ll be able to relate to your clients better -you will also find it easier to call the shots.
I’m a people pleaser… and when I was an employee, I would take on everything that was thrown at me… I’d work long hours when needed to meet deadlines without getting paid overtime or having my salary increased.
Now that I have clients instead of employers, it’s so much easier to:
- Get paid for every single minute that I work
- Say ‘that’s not a service I offer, but I can help you find another Australian virtual assistant’, or ‘I’ve decided to stop offering that service so I can specialise in [different service I’d prefer to get paid for]’
- Determine the days and hours I will work so I can work when I’m at my best
- Be there when my kids need me
- Make ambitious goals and go after them
We want to make building your VA business as easy as possible, so we’re currently working on a step-by-step guide for setting up your VA business. [[[ UPDATE – IT’S READY! Check out: From 0-10 Clients: Setting Up a Profitable & Fulfilling VA Business ]]]