Why You Probably Won’t Make Six Figures Your First Year

six figure virtual assistant

Being a six figure virtual assistant is very possible.

Believe it or not, some virtual assistants (VAs) can earn six-figure incomes.

After the recession of 2008, VA jobs started to boom because companies still needed skilled people, but didn’t want to have to commit to full-time workers’ salaries and benefits. This gave connected, entrepreneurial minded people a huge opportunity to fill the gap by offering their skills to these business owners on a contract basis.

Fast forward to the present and being a VA is a viable career choice for anyone with the self-discipline and motivation to work from home. Working as a VA gives you the chance to tap into a multi-million dollar industry that’s growing all the time. Many women and disabled people love the opportunity because they don’t have to spend time, money and hassle commuting to a workplace and can set their own schedules. They can even be at home with growing children as a work at home parent.

So what does a VA do exactly?

It varies. Some VAs are similar to personal assistants an employer would hire to help them in an office. The only difference is that they work virtually, that is, off site, on the computer. Today, VAs can perform these tasks from anywhere with a laptop and good wireless connectivity. They don’t need to be chained to a desk from 8 to 5 and there’s no need to make coffee.

Some business executives are ‘road warriors’, out of the office a lot of the time anyway. In which case, it makes little difference where their assistant is doing the work. This fact means the business usually doesn’t even have rented office space. Everyone just works from their home, or wherever they happen to be.

The Quest to be a Six Figure Virtual Assistant

General VA jobs pay well, but you probably won’t make six figures your first year for a number of reasons. The first is that you have to begin building your client list. You will be starting from scratch and need to prove to clients that you are trustworthy and offer good value.

Building a client list means promoting yourself.

Using free methods is the best way to begin, but you’ll find that paid ads give you good results if you know what you’re doing. Some people also get good results from online freelance market places like Upwork.com. You need to fill out a profile and pay a fee to join.

Some sites will also require you to pay a small fee to bid on a job. If you do go this route, be sure to keep all receipts for your expenses so you can deduct them from your taxes each quarter. But these expenses will mean you’re less likely to earn six figures in your first year.

Another reason is because a general VA will not command the same salary as a specialist VA. If you have a valuable skill such as WordPress, PowerPoint or Excel, you can charge more. If you become a social media VA, you can also make good money, but you need to be very organized and familiar with the networks your clients wish you to work at. It can take time to master each one.

If your client wants you to learn a proprietary system, such as their own content management system, that will also eat up your time, so your daily earnings will go down. As you see, there are a lot of barriers in your way. But, there is a way to six figures, so don’t give up. When you learn how to package your offerings properly, as well as create other products for your audience you’ll meet that goal in no time.

Problems Getting Paid

Finally, I hate to mention this, but it’s best you know all the facts up front.There are a lot of road blocks to being a six figure virtual assistant.

Not everyone online is honest.

First, they might try to scam you into doing work free for them. Watch out for job listings where they ask you to create custom content for them by way of assessing your work. Worse, some people will ask you to work on a percentage basis instead of paying you up front. Your portfolio should speak for itself and clearly demonstrate that you can do whatever they are asking for without them getting freebies they can just take and run.

The second way they can be dishonest is by not paying you. If you use one of the main freelance marketplaces, you are reasonably well-protected by them, but if the project is going to be a long one, more than a couple of days, set milestones that will require them to pay you for the work done as you progress.

It can be hard to imagine earning six figures in your first year, and indeed, it’s rare, but it’s certainly a goal to aim for. If you know what to do and are committed it can happen.

What do you think is the biggest obstacle you face to meeting your financial goals?

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