As more and more companies downsize and cut expenses, home-based services are becoming an increasingly important part of the job market. After all, a company that hires a home-based entrepreneur saves money on salary costs, overhead expenses and healthcare expenses. It’s no wonder that jobs in the virtual assistant field have grown exponentially in the last few years.
If you have knowledge in a particular field, solid administrative skills, and a strong work ethic, you too can start a part time business as a virtual assistant.
Skills Required: A background in a particular industry and related training
Most virtual assistants have skills in a particular field; some of the more popular sectors for virtual assistants include real estate, IT, web design, marketing, graphic design, financial services, accounting, legal, secretarial and graphic design.
Many virtual assistants take additional training for a career as a virtual assistant, with many courses being offered online.
Startup Expenses: Less than $100, if you have a computer and Internet connection
Luckily, the startup expenses for a part time business as a virtual assistant are minimal, provided you already have a computer with an Internet connection. A fax machine can also be useful. A home office is always a bonus, but a small desk in the corner of the living room works well too, provided you have a quiet place to work.
Marketing yourself to clients may involve advertising expenses, and you may also want to create a website to market yourself and your part time business to potential clients about the services you provide and the industries in which you specialize.
Monthly Revenue: Up to $3,000
The average full-time virtual assistant averaged $39,452 a year, as of 2008. This number, of course, will differ according to the field in which you are working as a virtual assistant, as well as the hours you will devote to your profession. A part time virtual assistant will therefore make considerably less than a full-time virtual assistant.
Monthly Expenses: $50
Monthly expenses for a career as a part time virtual assistant are small, thereby providing a nice potential for profit. Other than office supplies, your monthly expenses may be limited to your Internet connection fee and phone bill.
Time to Break Even: Less than a month
Because of the small start-up costs involved with starting a part time business as a virtual assistant, you can expect to recoup your expenses in less than a month. In fact, many part time virtual assistants see a return on their profit after the payment from just one job or project.
Possible Bumps in the Road
Although you have the luxury of flexible hours as a virtual assistant, you will need to be available during certain business hours for your client. Many virtual assistants also find themselves working many hours during the first few months, as they are trying to build their business reputation and land clients.
You may also find yourself working nontraditional hours, as many businesses may require your services at any time of the day or night.
