How to Make Six Figures as a Virtual Assistant
One common question I regularly receive from virtual assistants is how to make more money. If this question hasn’t popped into your mind, then that’s a good sign. More than likely it either means you’re making quite a bit of money as a virtual assistant already, or you’re satisfied with the amount you currently make. Not everyone has big monetary dreams for their business, but if you’re one of those who think about how you can make six figures as a virtual assistant then keep reading.
As you start to gain momentum in your virtual assistant business, I encourage you to implement a plan that truly taps into your talents and experience which will assists you in making more money. The key to making six figures as a virtual assistant is changing your mindset and knowing how to use your skills to maximize your business.
When you change your mindset about who you are and what you have to offer it can open up a whole new world for your business. If you want to make more money you have to see yourself and your business differently. Yes, you are a virtual assistant. But when you think about it, you are so much more than that. Keep reading to see what I mean.
Once you figure out what skills you enjoy doing and are good at, you can begin applying them to your virtual assistant business. One thing you will have to do is upgrade your current tasks and duties. As a virtual assistant, to really start bringing in the money you should develop skills in the following areas: business organization, business development, business implementation and strategizing, creating business plans, and advising/consulting. All those skills may seem overwhelming. You may even think there’s no chance you can help businesses in those areas. But if you really think about it, if you’re a virtual assistant already, you are probably already practicing some of the duties listed. Many businesses need someone to not just perform the daily task of their business, but also need someone to manage their business. That’s where a Virtual Assistant turns into an Online Business Manager. You can make and charge considerably more money as an Online Business Manager, or OBM.
As an OBM you’re basically taking your role as a virtual assistant to another level by taking over the daily operations of an online business. A typical OBM will work in the capacity of a Project Manager, Operations Manager, Office Manager, or Human Resource Manager to name a few. Project Managers are what the name sounds like. They manage and oversee projects. As a project manager you might come up with a strategy on how to get a project done and then delegate tasks. A good Project Manager is also knowledgeable on productivity tools and resources to assists them in managing projects. An Operations manager might will make sure the business operations are efficient and running smoothly and make recommendations and changes if they aren’t. Office Managers might do a little bit of everything. Last but certainly not least, an Human Resource Manager is someone who may be over outsourcing and making sure the teams complete tasks.
As a OBM you might be over a team, or other virtual assistants leading them in projects and everyday tasks. Prioritizing and creating productive workflows are two areas a OBM might review and improve in their client’s online business. Whereas a Virtual Assistant would not concern themselves with such areas at all. You can think of a OBM as a higher-level VA. The OBM has a grander skill set and duties to perform and see the big picture. A VA simply performs individual and specific tasks given to them.
Strategies to Become a OBM
Here are some strategies to help you become an Online Business Manager. Learning certain areas of a business will help you develop your skills as a OMB. The first thing you will want to do is learn how online business owners are making money and what process and procedures they use to do so.
What revenue streams are they using? What automation processes do they have set up. How does their team work?
Additional Skills to Increase your Earnings
Learning SEO is a great skill to have to help your clients get found online.
If you know how to perform tasks on the back-end of a website such as doing website updates, publishing a blog post, and designing landing pages you will be of real value to your client since businesses need tech-savvy assistants who can perform these tasks.
If you are a VA that knows the ins and outs of how to work the social media platforms, then by all means offer up those skills! Pinterest is a platform that is helping businesses get tons of exposure. Pinterest Virtual Assistants are in high demand and very popular. Linked In is another great platform for helping clients get known. Knowing how to use Facebook, Instagram, Twitter, and other social media platforms will work to your advantage when setting your prices. You can turn these skills into a Marketing or Social Media Manager.
Businesses are looking to hire those familiar with email marketing and building subscribers via newsletters, landing pages, and affiliate marketing. Building and maintaining customer relationships is important for businesses. Remember that you should have a strategy when taking on email marketing. It’s not just about creating a landing page or opt-in and telling people to sign up. You have to strategize! That’s where a OMB comes in. Are you starting to see how you can turn regular virtual assistant skills into an OBM skill set that will help you earn more money? Upgrading your skills will do so much to increase your earning potential and allow you to charge more.
Webinars and Podcasts
Are you knowledgeable about how to run webinars and podcasts? If so, then you can support businesses that utilize these tools. If you take it a step further and learn the legal aspects of each as well as best practices then you can turn this skill into a OBM duty.
Learn the tech and strategic side of this. When you learn everything you can about Digital Marketing for your own business then you’ll have a solid understanding on how to help your clients.
Creating a brand and helping a business to really stand out and highlight their uniqueness and why others should utilize their business is a business skill in high demand. A brand manager must possess skills of analysis and creativity to implement their ideas and achieve their goals. They must develop large-scale marketing strategies as well as advertising strategies.
These skills are where the money and demand are. It’s all about having the skills that clients want and that are in-demand to command the higher rates.
If you find yourself doing this level of work at some point, then it’s time to re-evaluate your businesses as well as your pricing! Because then you are no longer a regular VA, but a Manager or Director. Managers and Directors get paid more.
Becoming a OMB, Manager, Director, or whatever title or role you see yourself as is a great next step for a VA.
Keep in mind that becoming a OMB is not for everyone. If you prefer to work alone or at your own pace, then you might not want to take things to the next level. Managing projects involves delegating, managing teams, collaborating, and reporting to the business owner.
In your new role and leadership position you’ll need to step up to the plate offering your expertise and advice. Some may not want to go there and that is perfectly o.k. as well. Remember this post is about how to make six figures as a virtual assistant. It is not about how to take on additional duties and tasks that you have no interest in. But if you enjoy the kind of high-level roles required to be able to charge top dollar then this is how you can start making more money. Also keep in mind that not all businesses are interested, nor can they afford, to hire this type of person. So, you may need to have two different type of businesses that you market to until you’re fully immersed in your role as a OBM. Or, if you enjoy VA work, you can always do both.
Considering ongoing relationships as well as a one-time consulting type deal will help create flexibility and options in your business.
Focusing on growth strategies and business development are the components to start with in transitioning to becoming a OBM or offering OBM services.
Take the time to understand the theory and fundamentals behind why a client needs something and help your clients with the whole picture.
When you create your business model and strategy consider adding your own digital products and training.
So, if you’re ready to take your VA business to the next level and transition into an Online Business Manager then start learning what you don’t know and start implementing what you do already know. As you gain more knowledge and experience, you can start charging much more than what you do for your virtual assistant duties. The sky is the limit! And that is how you make six figures as a Virtual Assistant.