The Gritty Virtual Assistant

Thinking along the lines of the last Dear Gritty VA question, I was reflecting on how often I hear Virtual Assistants talk about all the project work they do, but never getting ahead. When I say project work, I’m talking about the one-off transactions done for transient clients on a one-time, sporadic or occasional basis as opposed to ongoing administrative support provided within the framework of continuous monthly collaboration with clients.

The complaints I hear so often involving project work generally fall into the category of profitability and lifestyle. For example, a Virtual Assistant will come to me explaining she’s been advised that project work "pays the bills" when you gotta keep the lights on, feed the kids, pay the rent, etc.

The problem with that strategy is that it’s not really a strategy at all. It’s more like robbing Peter to pay Paul. It’s simply reacting to your immediate circumstances–and need for cash–rather than working in a way that’s going to build long-term sustainability and profitability, and a business that meets both your long-term financial AND emotional/happiness needs.

What does that mean?

Well, when a Virtual Assistant comes to me with this kind of question, the first thing I ask them to think about is what do they want for their life and their business. The answer is generally something to the effect of "I want to be self-employed; my business is as much about making an excellent living doing work I enjoy as it is affording me the time and freedom to live the way I want." And most are not interested in "creating an empire" or having to direct and manage people and results.

When that’s the case, the next thing I get them to think about is how to go about their business so that they can achieve those things. The answer lies being smart about the kind of work you take on, the kind of clients you work with, and the platform from which you deliver your services. It’s going to involve charging profitably, working efficiently and how what you do ends up increasing your ability to both earn and live well. Profitability and being intentional and considered in your business model are the two things that are going to give you choices in your business.

So, if you are on a constant treadmill of project work, with contact turnaround of consultations, proposals, contracts and deadlines to manage, when are you going to have time to do the things you enjoy? How much harder do you have to work and market to keep those projects coming in? When will you find time to work ON your business? If you are working at the beck and call of clients, how much freedom does that give you to call the shots in your business? If you aren’t charging profitably, how is that going to help you build long-term financial gain?

If you decided to work in retained collaboration with clients (which is really what true Virtual Assistance is all about) instead of sporadic project work, how would your own administrative chores and processes decrease in your business? Would your cashflow be improved? How much better would your service be to clients because you are growing a meaningful body of knowledge of their business that in turn allows you to serve them better and improve their business? How more value would they find in that? Would that higher value allow you to charge more for your expertise?

And if you were making more money, could you conveivably be able to them work with fewer clients and thereby have more freedom in your business? What could you do with that increased time and freedom? Create new products for your market that held passive income opportunities for you? Work in a more relaxed, less stressful manner? Take on choice projects as you see fit instead of having no choice about the projects you take on because you "need the money?" Take a vacation when you felt like it?!

Food for thought.

Do you value what you do?

Do you hold it in high esteem?

Is what you do less worthy of respect than any other professional service?

Is it flunky work? Or do adminstrative services require every bit of critical thinking, experience, knowledge, talent, intelligence, and problem-solving skills as any other professional service?

What is the worth of your 10, 20, 30 years developing your skills, knowledge and expertise doing what you do? What value does that hold for clients?

Your pricing will subliminally, but directly, answer these questions in the minds of your prospects and clients; it’s one of the critical ways you shape your own marketplace’s perception about the value of your service. If you don’t value what you do, clients sure as heck aren’t going to.

If you price too low, you focus clients on price instead of the results you achieve for them.

If you price too low, you risk coming across as a cheap commodity instead of a valuable professional service.

If you price too low, you will get more price-shoppers than value-shoppers.

When you price appropriately, you get a whole other calibre of client. It’s the same difference between Nordstroms and Walmart.

Low price is a seduction, but one that rarely leads to anything more meaningful (or profitable) than a one-night stand. If you understand that long-term business relationships, higher profits, and business happiness are integral to success in the solo Virtual Assistant professional practice, make sure your pricing is in alignment with those values.

Children love candy and would eat it all the time if we let them. Does that mean it’s good parenting to feed them candy and junkfood whenever they want? Of course not. We’d have cranky, spoiled, demanding children bouncing off the walls and driving us crazy, wouldn’t we? And neither should you let clients pressure you into devaluing your service to them and pricing too low.

If a prospect is serious about their business, and you do a good job of illustrating the results you can achieve for them, pricing your services professionally and profitably is NOT going to deter them.