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Plan Before Launching Your VA Business

Any successful [tag]small business[/tag] starts with a business plan. If you’re planning to quit your 9 – 5 to become a [tag]virtual assistant[/tag], experts advise you’ll need a business plan, too.

In her article “Starting a Virtual Assistant Business” on Entrepreneur.com, Carolyn Moncel advises that a new VA must be prepared to work evenings, weekends and sometimes 14 hour days when launching a new business. To prepare for the time and financial implications of a new business, Ms. Moncel lists Elite Office Support founder Susan Totman’s tips on starting your new venture:

1. Decide just what type of services you want to offer, and analyze your background to ensure you have adequate experience.
2. Determine your business niche-consider specializing in just two to three services.
3. Determine how much time and energy you have to commit to your venture. Do you want to work part or full time?
4. Conduct thorough industry research to determine a need for your services in your local area.
5. Outline who your clients are, where they are and how to access them.
6. Do a market analysis. Find out the needs for your niche and focus on how you’ll apply that to your business.
7. Know your budgetary constraints-projected expenses, expected income and how long you can “float” until your business is running successfully.
8. Prepare a business plan and review it often to manage growth and change.
9. Examine your equipment, software and work space to ensure they meet client needs.
10. Wrap up all legal and financial aspects of startup before securing your first client.
11. Market your services 24/7. Just because you’ve built a Web site or placed an ad in the Yellow Pages doesn’t mean clients will come knocking on your door.

For more, read the article at http://www.entrepreneur.com/startingabusiness/businessideas/article71516.html

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  1. 1 Comment(s)

  2. By jamesb on Feb 22, 2009 | Reply

    Planning is definitely very important for anyone that is interested in setting up a virtual assistant business. If you are not fully prepared then it is very easy to fail in this line of work. Your clients will expect you to be 100% on the ball so do not let them down!

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