A six-figure VA business. Sounds crazy, doesn’t it? Believe it or not, it’s possible! It won’t happen overnight, but if six figures is your goal, it will happen!
But what does a 6-figure business look like, or specifically, a 6-figure VA business? Much of that depends on your work style, personality, and goals. Here’s a look at some ways you can scale your business and reach that elusive 6-figure club.
Offer a high-end service: this is where you can take stock of the unique skills you can offer to clients. Examples of high-end services include web design, full-scale event planning, Facebook ads, concierge-level service (on-call, short turn-around).
Take some time to brainstorm high-end service ideas that fit your personality and work style. Don’t offer something that’s not in your zone of genius. Stick with what you know and love (or can learn easily).
High-end services can be priced as a stand-alone or as part of a package, but the key is to be so well-versed in your particular service your clients won’t mind the premium price tag. If you have a client with multiple small businesses, consider bundling the services (2 websites for X dollars, for example).
Rate increases: Take a close look at your rates. Are they starting in the $30-$35.00 range? Bumping up your rates increases not only your income but also attracts higher-end clients who are willing to pay those rates for the long haul.
Of course, setting your rates depends mostly on your specialty and location, but bumping up your rates will pay off over time.
Book out ¾ of your schedule: One of the joys of being self-employed is deciding how much you want to work. If you’d like to perform a full 40-hour workweek and you’re currently working 15-20 hours per week, work toward booking out at least 30 hours per week.
You’ll need to be at least $30.00/ hour for this to be cost-effective and for you to see results.
Course creation: If you have a knack for teaching and mentoring, creating a course is an excellent way to use those abilities and increase your income at the same time. Platforms such as Teachable and Thinkfic make course creation nearly painless.
The beauty of creating a course is you can focus on any aspect of the VA business: marketing, VA start-up, agency management…you name it. Let your expertise guide you!
Along with the course, set up a private Facebook group for course members to connect, network, share ideas, ask questions, and connect with you.
Set your pricing depending on the duration and depth of your course. Course creation is a great way to generate extra income without putting in long hours. Learning can be either asynchronous (students log in and learn at their own pace) or synchronous (students gather online at a set time each week, and the course is taught live over Zoom or other video conferencing app).
Create a Facebook group: People crave connection. A Facebook group creates community, connection, and collaboration among its members. As a marketing tool, it generates familiarity and trust in your brand.
VA groups not only have VAs among their membership; they also have prospective clients. As your group grows, you will undoubtedly have your ideal clients hanging out there as well.
While it takes time and effort to develop a group, it will pay off when that ideal client reaches out to you and books your services.
Engage often with your group; create genuine connections between yourself and group members and among the members. You won’t need a group of thousands to reap the benefits: think quality over quantity when it comes to interaction and engagement. Engage, engage, engage!
Lead capture: Offer a freebie on your website in exchange for an email address. It can be as simple as a one-page calendar drawn up in Canva or as complex as a small ebook.
Create an agency: You can only do so much as an individual. By bringing in contractors or subcontractors, you can expand your client base beyond what you can handle independently.
By assembling a team, you can also outsource the client work that isn’t in your zone of genius or things you’d rather not do. Chances are, there is a contractor or subcontractor that has the skills that will allow you to retain a particular client.
There is no overnight formula for scaling to six figures. It takes time, building trust in your brand, knowing your unique talents, understanding prospective clients’ needs, and showing up where they hang out online.