Business Management – Page 5 – Virtual Assistant Success Strategies

Wil Hart on May 27, 2011

How To Ensure A Successful Relationship With Your Clients

Having a good relationship with your clients is critical if you want to have a successful Virtual Assistant business. It all begins with laying a strong foundation. You’ll need to have best practices firmly in place so that when a new client says “Yes I want to work with you,” you’ll have everything ready to go and get off to a great start.

Taking time to establish the groundwork will give you a strong foundation, which will help your business stand out. Not only will a new client continue to use your VA services, they will refer others to you as well. The following tips will help you to develop a strong relationship with your clients right from day one: Continue Reading>>

Wil Hart on May 13, 2011

5 Steps to Strengthen Your Business Foundation and Create More Profits

One of the most important lessons I learned in my business, early on, was how important it is to have and maintain a strong foundation in your business. In order to support your growth and efforts to achieve your goals, your business needs a solid infrastructure on which you can build. If this infrastructure is not in place, you could find yourself in a position where you are growing too fast too soon and not serving your clients nearly as well as you should be. This in turn will create unnecessary stress and frustration, which equals a not so happy Virtual Assistant who is working harder and making less money than she should.

So, it’s important to take stock of your business periodically and see how your foundation is holding up and what improvements you need to make. And if you’re just starting out, you’ll do yourself a HUGE favor by setting up a strong business foundation from day one. This is the perfect time of year to consider these points, as we are heading into summer. If you set aside time now to analyze your business operations and start making adjustments, you’ll be primed and ready for fall 2011, while most everyone else is still trying to come back from summer vacation.

The following are my top five tips for assessing your business and strengthening your foundation:

Review and revise your business plan – Many times business owners create a business plan when they are first starting out, get excited about it, but then file it away and never look at it again. Sometimes new entrepreneurs don’t even take the time to develop a simple business plan. This is a BIG mistake! Going through the steps to create a business plan is a terrific way to get all of your ideas down on paper and to create a roadmap to follow to grow your business. It’s easy to think one can keep all of their ideas, goals and strategies locked safely in their memory. But there are two things wrong with that. 1) You absolutely can’t remember all of the details and 2) you’ll have a more difficult time working towards them because you haven’t committed your thoughts to paper. So schedule time on your calendar NOW to review and revise your business plan. Think about all that you’ve accomplished thus far in 2011 and map out your goals for the rest of the year and then how you’ll achieve them.
Take stock of your financial situation – For some this can be the least “exciting” part of running a business – having to deal with all of the “number stuff.” But, most of us start our companies to make a profit and support our families – not to unintentionally be running a non-profit organization where we work for free. You won’t know which category you fall into if you aren’t clear on the financial state of your business. If you are not already doing so, ask your accountant or bookkeeper to start running monthly reports of your expenses and income so you can see how profitable you REALLY are. You may be surprised to find out which of your services are actually most profitable and then start focusing more attention on those. Also, you’ll see clearly how your expenses are affecting your bottom line and what adjustments need to be made.
Review your business standards to see if they are still working for you – One of the things my coach helped me to do when I was first starting out was to create a set of standards for my business. This included the hours I would work, my fee structure, how I would handle different clients, different situations, illness/vacation, etc. – basically ALL of the details of how I would run my business. I highly recommend that you take the time to outline your standards as well. It’s your business, so the way you work and operate your business should be reflective of and work for you. After doing this you’ll be clear about your boundaries and can then easily (and tactfully) share them with your clients to ensure that you are supported and protected to do your best work.
Fine tune your marketing systems – Some Virtual Assistants have a bad habit of only marketing their business when they need a new client. That is a big no-no! As a business owner, you should only be spending your time on two things – 1) serving your clients and 2) marketing your business. If you don’t have a marketing system in place – meaning a strategic plan for how to consistently present your services/solutions to your ideal clients and enroll them in your practice, then now is the time to implement one. You should be regularly attending networking events where your ideal clients hang out, following up on leads, engaging in social media and pursuing other effective marketing strategies. Map out a plan of how you will market your business for the remainder of 2011 and then commit blocks of time on your calendar to work on your marketing efforts. Marketing your business will be a lot easier (and much more effective) if you consistently and comfortable share what you have to offer instead of operating from panic mode because you need a new client.
Start implementing systems in your business – You likely do some of the same tasks over and over again in serving your clients. At the very least, each week/month you’re doing bookkeeping, marketing, reporting to your clients on project progress, etc. As such you should be developing systems for every aspect of your business. A system is simply a list of guidelines or instructions about how to handle a particular task or project. It’s a way for you to implement quality control into your Virtual Assistant practice so that you consistently deliver high quality results for yourself and your clients. It’s a way to save time, because you won’t have to think about or try and remember how to handle a particular project. And it’s a way to make more money. “How so?”, you may ask. Because you can easily delegate certain tasks to someone else, freeing up your time and mental energy to pursue your high-payoff activities. The more you systematize your business the more organized and profitable you will be. So, start today in outlining the steps you take to operate your business and serve your clients. Compile the instructions into one central document or binder and create your own operations manual. As you continue to grow you’ll have all of the information you need to run your business right at your fingertips.

Likely, you set out to be a Virtual Assistant because you wanted to pursue a career that would give you more control over your schedule and earning potential. So make it easier on yourself to achieve your goals, by taking steps to tighten up your foundation and get clear on your goals. Running a successful business obviously takes effort and dedication. And having a strong infrastructure and a solid plan to follow will ensure that you are spending your time and energy on the activities that will get you the results you want!

YOUR ACTION PLAN FOR THIS WEEK:

Pull out your business plan and schedule time to review and revise it by June 1st.. (If you’re just starting out, set aside time to create your plan by the same date).
Pull year-to-date reports on your financial situation and review them with your bookkeeper or accountant to see what adjustments may need to be made.
Outline the details of how you will run your business so that it is working for YOU, not the other way around.
Review the strategies that have been most effective in marketing your business and then create a plan around how you will consistently implement these tactics to attract new business.
Start creating systems for EVERYTHING you do in your business and compile the information in one central location.

Wil Hart on April 29, 2011

Are You Making these 3 Common Mistakes?

Virtual Assistants tend to be really good at creating lists. We create to-do lists for ourselves, our clients, our families, the housekeeper, etc. These lists are created as a method for getting things done. But, how often do you go back and review your lists to see if “what” you’re doing is yielding the right results? In other words, is how you’re spending your time supporting or detracting from the life and business you want to create?

If perhaps you aren’t making the money you want to make, or you’re working with clients who drain your energy, or you find yourself working far more hours than you’d like, it’s time to step back, take an honest, objective look at your VA practice and decide what adjustments need to be made. Just as you would create an action plan for your clients, you need to create one for yourself. The first step is to answer this question, “Are you making these 3 common mistakes?”

1. Is my own mindset getting in my way? Have you ever gotten frustrated with how things are going in your business and thought, “I’ll never work with high-quality clients who happily pay my fees,” or “I guess I’m destined to discounting my fees if I want to stay in business?” If you answered yes, then that’s exactly what you’ll get. This element of the Law of Attraction is simple and it applies to EVERYTHING you do. Whatever you tell yourself is ABSOLUTELY true. If you put out negative energy that is what you’ll get in return. But if you consistently focus on positive, abundant thoughts, you’ll begin seeing ways to create the results you desire—and the opportunities you need will find their way to you. (Not to mention a positive attitude is highly client-attractive!) If your tendency is to have a negative attitude toward your business, stop! Make the decision to change your thinking, starting TODAY. If you consistently attract non-ideal clients, ask yourself: “What can I do to attract my perfect client?” Look into upgrading your services by taking new courses that expand your knowledge and justify higher rates. Participate in social networks to explore what kind of support your ideal client is looking for—and place yourself directly in front of your target market. Also, be honest about where YOU are standing in your own way. What fears do you have about your business? What limiting beliefs are you holding onto? Put forth the effort to stare your gremlins in the face. Then make the decision to start thinking differently from today forward. All these activities will help you tap into a new group of clients and move you closer to your goals.

2. Do you only market or advertise your services when you need more clients? This is one of the biggest mistakes that Virtual Assistants make. And it is an area where they struggle needlessly. Some may feel hesitant about marketing thinking they have to be pushy and sales-y in their approach. That is certainly not the case. Marketing is simply a matter of sharing solutions with people who were already looking for them. The most effective marketing strategy for Virtual Assistants is to get clear on what you offer, embrace the value you bring to your clients’ lives, get to know your ideal clients REALLY well so you know what their urgent needs and compelling desires are and then put yourself in front of them as THE solution to their problems. You should be marketing your business every week, bare minimum. (Ideally you should be doing SOMETHING to market yourself every day.) There are countless ways to market your services. Attending networking events and industry events has always been highly effective for me. Blogging about the benefits and results you create for clients is another. Publishing an email newsletter, getting involved in social media, and sending a letter to EACH person in your network explaining your services also yield positive results. The list goes on and on. The goal is to be consistently attracting new leads to your business and keeping your pipeline full. Even if you find yourself at full capacity, when potential clients contact you about your services, you can still have your introductory meeting with them to determine what their needs are. If their needs exceed the support you can provide at that time, just let them know your practice is full. Then, offer them the option of going on a waiting list or refer them to another Virtual Assistant. Either way, you keep the lines of communication going. And, if you have an opening, you now have a “warm market” list to contact. This will keep you out of “feast or famine” mode with your finances.

3. Is your business foundation solid? Building a business is like building a house—it needs a solid foundation. If you don’t have an effective bookkeeping method, your office and paperwork are a disorganized mess and you don’t have a marketing plan to follow, you do not have a solid foundation for your business. If you struggle meeting deadlines because you can’t find everything required for a project, it’s time to stop and get organized. Nothing is more important than a solid foundation for your business for it to grow and prosper. This means treating your business like a business, NOT a hobby. Outlining your standards, boundaries and operational guidelines clearly on paper will give you a roadmap to follow to successfully run your business for years to come. Remember, the best compliment a client can give you is to refer your services to a colleague. Make sure you earn that referral by being a competent business owner.

If you are making any or all of these three common mistakes, there is good news! You know now what they are and can take action to make improvements. Spending time assessing, planning and implementing proven solutions will help you to upgrade your business in short order. It will also boost your confidence, decrease your stress and move you that much closer to having the business you dreamed of when you first started.

Action Steps For This Week

1. Schedule one hour on your calendar to sit down and honestly assess your business. Make a list of what is working and what is not. Pat yourself on the back for having the courage to stare your business in the face and acknowledge that some improvements need to be made.
2. Once you’re clear on where you’re at, it’s time to get clear on where you want to be. Set a few specific, measurable goals for improving your business and assign a deadline to each.
3. Break down each goal into a series of projects or action steps. Schedule time on your calendar over the next 2-3 months to work on these projects and get your business affairs in order.
4. Reach out for help if you need it! No one who is successful in business has created that success alone. NO one. So, don’t be afraid to ask for help. You and I can work together one-on-one if you like. (Simply email me at Support@EAtoVA.com to schedule an appointment for us to chat.) You can register for a mentoring program. (www.SuccessfulVA.com or www.FullPracticeVA.com). Plus you can reach out to other VAs for ideas and support. (Check out my group on LinkedIn.com) Whichever option you choose is fine, but set yourself up with the support and accountability you need to take your business to the next level.
5. Leave a comment below and let me know how this business overhaul is working out for you! I love hearing about your successes (no matter how “small” you think they are) and celebrating with you!

Wil Hart on April 15, 2011

5 Steps to a Productive Work Environment

When you’re a Virtual Assistant, you are only paid for the time you spend on client projects. Therefore, maximizing your work time is key to the profitability of your company. As VAs typically work from home, it can be a challenge to create a productive work environment where you experience minimal distractions and can focus on running your business. Use the following strategies to get more out of your day.

1. Create a dedicated workspace – There is such a thing as being too virtual! If you find that your “office” moves from your living room, to your bedroom, to your kitchen table or elsewhere, I guarantee that you aren’t nearly as productive as you could be. You are running a business, not pursuing a hobby! Your business deserves its own dedicated space where you show up for work each day. Regardless of how large or small your home is, you can carve out a space for your own office. A corner, a nook, even a closet can be used to create a highly functional office space where you can run a profitable enterprise. Retailers like IKEA and The Container Store have numerous resources to assist you with this.

2. Clear the clutter – Some of us are more organized than others for sure, but there is not a single VA around who wouldn’t be more focused, productive and profitable if they got rid of their clutter. Do you have old pens, mail, folders or other materials piled up in your workspace? Whether you realize it or not, having clutter in your space is a huge distraction for you. It’s been proven that:

Clutter causes you to feel overwhelmed or depressed
Clutter robs you of energy
Clutter steals 50% of your storage space
Clutter makes running your business harder – You have to look longer and dig deeper to find what you’re looking for
Clutter makes it hard to think straight

Get rid of your clutter and you will instantly boost your productivity!

3. Eliminate all your notifications – Unfortunately, because of our technology focused society we are often inundated by notifications and so called “helpful” reminders. However, when you are focused on your client work and business operations during the day, you don’t need to notified of every little thing. Make it a habit to turn the ringer on your cell phone OFF. Turn the ringer on your home phone or business phone OFF. (You can schedule times to check your phone(s) during the day). Also, let friends and family members know what your work scheduled is and that you are NOT available to talk during those hours. Finally, turn your email notifications OFF. Your time during the day is much better spent working on various projects and being notified each time you receive an email is a costly distraction that you don’t need.

4. Stay OUT of your email Inbox – Email is one of the greatest productivity killers around. It’s a fabulous communication tool, and critical to the functionality of your virtual business, however it also has the potential to be a HUGE time waster if you aren’t careful. I recommend dedicated two blocks of time per day to process your email. Otherwise you’ll find that you won’t get any real work done during the day because you spent all your time answering email! Also, train your clients to communicate with you via a project management system such as Basecamp or Central Desktop. These systems will track all correspondence in a neat, organized fashion so you don’t have to keep a back log of emails but can still keep track of conversations around projects and tasks.

5. Choose the right workstation – Think about the functions that you’ll be doing at your desk. Analyze what you do in a day, and make sure that your desk or workstation suits your needs. Do have lots of cords between your computer and other equipment? Then you want to have a desk with built-in cable management and an adjustable keyboard drawer. Are you a person who likes to spread out while you work? You’ll want a desk with lots of flat space so that you can work comfortably.

By implementing these strategies, you can create a workspace that maximizes the time you spend on your projects and stay focused on the task at hand. Schedule time now to makeover your workspace by selecting one area to work from, cleaning out clutter, eliminate notifications, manage the time spent on email and choosing the right workspace. You’ll see the benefits pay off in no time!

Wil Hart on July 2, 2010

What’s Your Contingency Plan For Your Business?

Let’s face it – we live in uncertain times. On any given day you may have a power outage, your Internet connection may be down, your child could wake up sick or you may be faced with some type of natural disaster. Hiccups and disruptions in your work flow COULD be detrimental to your business. However, that doesn’t have to be the case.

Taking a proactive approach to preparing yourself for the unexpected you can minimize the effect on your business. By having a contingency plan, you are establishing yourself as a business professional just like any large corporation. If done correctly, your clients won’t even know you had an issue unless you decide to tell them.

So what exactly is a contingency plan?

A contingency plan is a process you have for your business to protect yourself and your data from being lost during an emergency. Losing data would be detrimental to your business not only for the information that you would have to recreate, but also the violation of your clients’ private affairs.

Wil Hart on May 10, 2010

How to Select a Name for Your Virtual Assistant Business

Choosing a name for your new business can be an exciting but stressful task. There are so many factors in selecting an appropriate name for your new company. While you can change the name down the line if you want/need it, it can be a cumbersome task. So you want to make a decision that will be comfortable for you to live with.

Here are my suggestions on points to consider when selecting a name for your VA business:

How do you want to brand your company? Do you want people to know your business based on what you do or, do you want them to know your business based on your name? Deciding to brand your business or yourself is an important first step in creating your business name.
What image are you trying to convey? When an ideal prospect hears the name of your company what thoughts do you want to come to mind? When they see your company name how to you want them to feel? Remember you’re a solutions provider, a problem solver. You want to convey the benefits and results that clients experience in working with you in every part of your brand, including your business name. Let this guide you toward selecting a name that fits. Continue Reading>>

Wil Hart on April 3, 2010

The #1 Most Common Mistake to Getting Organized

I have a confession…..I am an office supply junkie!

I love to go to the office supply stores and get all the matching organizers like pencil cups, paper trays, folders, and covered memo boards. I love cool pens, pretty folders, interesting Post It notes…you get the picture.

It all looks so nice and neat in the store and I can just imagine my desk looking all neat and organized. Many times I’ve thought, “I know that once I buy all this stuff, I will finally be organized and I can get on with my day. ” It wasn’t until I started working with a professional organizer that I realized how wrong I was. Buying fun, pretty supplies is NOT the “magic pill” to having an organized office. It really boils down to eliminating what we don’t need, creating systems that work WITH you and making a commitment to sticking with the system. Continue Reading>>

Wil Hart on March 26, 2010

Use Accounting Systems to Streamline Your Finances

Dealing with the accounting aspect of your business is a necessary “evil” of being an entrepreneur. Whether or not you are a “numbers” person, keeping accurate records, billing your clients and paying your taxes are tasks that you will need to handle regularly in order to stay profitable.

These weekly processes can be simple if you set up a system to handle them. What is a system? It is simply a matter of documentation. A system is documenting the steps you take to complete a task. For example, when you get ready to bill your clients each month, you may tally up the hours/tasks you completed for them, compile a report, prepare an invoice and bill their credit card. What else do you do? What software do you use to track your time? Do you have a format for the monthly report? How do you prepare invoices? What steps do you take to bill their credit card? If you have systems for billing, you will accomplish this monthly task in a matter of minutes. If no systems are in place, it could result in hours of wasted time and much frustration. (You could be using that time to make more money in your business or take a well-deserved break).

Here are a few tips on creating systems around your monthly financial tasks that will save you precious time, money and sanity:
Continue Reading>>

Wil Hart on January 27, 2010

Transition from the Corporate Office to Your Office

Aspiring entrepreneurs dream of the time when they can tell the boss “See Ya!” and start working in their PJs. Working from home is definitely a relief from the commute, stress and politics of the office. You have your freedom to call the shots and do things your own way. Continue Reading>>

Wil Hart on January 22, 2010

Why Smart Virtual Assistants Create Systems

Virtual assistants are gifted professionals who can typically organize and run any business their clients hand to them. But when it comes to being organizing and running their own businesses, that’s more of a challenge. When you’re wearing multiple hats it is easy to put off creating our own systems.

A smart virtual assistant’s business should strive to run as smoothly as their local 5-start restaurant. At anytime you should be able to add a new client to your workload and not miss a beat in your productivity and service standards.

Creating and documenting your business procedures can be done quickly and easily if you take a few steps. And thanks to technology, we can create our systems plan in a variety of ways. Here are three steps to get you started:

Gather Your Information. This step is quite challenging for many because it means collecting all of the information you have previously stored in your brain (and all over your office) into one specific document. Your goal is to record your daily business routine to paper. Be sue that it includes all passwords, resources, the web addresses, phone numbers, contact information, etc.
Create a Video Record. In addition to recording your information on paper creating a video tutorial where you explain and describe exactly what you’re doing and why you are doing it. You can use Camtasia or its open source counterpart CamStudio to complete this step. The benefit of the video is that you’ll be able to share them with future contractors or employees.
Monitor Your Results. This step involves paying attention to your business. For example, let’s say when you began your virtual assistance business you were using Excel to keep track of your accounting. But now you have more clients and Excel is becoming cumbersome. So you decide to try a program like FreshBooks. So you’d take a moment to compare how much time you are saving (or losing) with your newly proposed accounting system. Once you’ve examined your experience you would update your systems document.

Business systems can be broken down into three words: Plan – Do – Review.

Plan out how you want you business to run.
Do what your systems plan outlines; don’t improvise or change anything until you get to the next step which is to Review.
Review if the way that you’re working is the most effective way to get business done and if not, make adjustments as necessary. By repeating these steps you’re well on your way to a well-run business organization.

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