So You Want to Be a Virtual Assistant, Do You?
by Katherine McCrimmon, Virtual Assistant and Free Agent
Continued

Planning Your Future Business

Before you can choose administrative tasks you are best suited to do, before you can focus on your strengths and weaknesses so that you can weigh the pros and cons having your own businessse, you must:

1. Decide how you will manage your time. If you have a partner, will he/she help take care of children and/or do the shopping and/or do the cooking? How many hours each day can you depend on to work at your business. Remember, it's not only work for customers that you need to allocate time; you also must leave time for marketing and your own accounting/bookkeeping. Do you plan to keep your job and start up your business outside of office hours? Be warned this can be problematic. Some employers may see your venture as a conflict of interest and in the worst-case scenario land you in court the subject of a lawsuit!
   
   It's also important to consider how much time you can regularly devote to your business. The old adage of not 'biting off more than you can chew' comes into play here. In addition to 'working', you have to first get work and then more work! So, 'when' are you going to do the marketing? And 'when' are you going to keep up with the books? And 'when' are you going to get away from it all?
   
   
2. Decide how much money you can afford to invest in your business. Investigate to see if grants are available from local and state governments. To be successful you must have professional office equipment and software. You will also need insurance, telephone lines, office supplies, postage, subscription and membership fees. Add it all up and add some more. Try to imagine what unexpected expenses might occur.
   
   

1. Write a Business Plan. Incorporate into your business plan how you will manage your time and how much money you have to invest in your business and how you will invest it. There are lots of books on the subject and lots of information on the Internet. Writing a Business Plan is one of the best ways to incorporate 'focus' and professionalism into your business. A Business Plan will enable you to outline the important elements of your business objectives in financial costs and projections, marketing potential, services to be provided and legal responsibilities.
   

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