Pros & Cons

Start A Virtual Assistant Business

Pros & Cons

Trying to understand the pros and cons of starting a virtual assistant business?

Here are all of the pros and cons of selling virtual assistant online:

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Rewarding work Starting a virtual assistant business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your virtual assistant business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Meaningful business connections You never know who you will meet as a virtual assistant business. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
High margins The gross margins for your virtual assistant business are typically around 50%, which is considerably high and allows you to grow your business and manage costs easily.
Pick & choose the clients you work with Virtual Assistant Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
Control of workload With becoming a virtual assistant, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Unlimited income potential With becoming a virtual assistant there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.
Amazing perks and discounts Working in the virtual assistant business comes with its perks! As a seller for these products/services, you typically also get to enjoy industry perks and discounts.
You are your own boss! With becoming a virtual assistant, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!
Predictable income stream Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!
Higher likelihood of getting referrals This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.
Simple business model A virtual assistant business has the advantage of a simple business model, which makes launching and building the business more seamless.
Control your own destiny Becoming A Virtual Assistant allows you to control every aspect of your life and make your own dreams come true every day.
Greater Income Potential With this business, the sky is the limit in regards to your income potential.
You get to do something you truly love With starting a virtual assistant business, you get to put your energy into something you are truly passionate about! You'll find yourself devoting as much time and energy as possible into the business to make it successful.
You can decide who you work with Gone are the days of working in a toxic work environment with employees that you may not vibe with. As a small business owner, you get to decide who you work and surround yourself with.
You can work from anywhere! Not only can you start your virtual assistant business from home, you can also run your business from anywhere in the world. This is the entrepreneur dream.
Strong Demand & Relatively Recession Proof The demand for virtual assistant business is increasing year over year and the business is known to be relatively recession proof.
You establish yourself as an expert With becoming a virtual assistant, you establish yourself as an expert in your niche, which builds your credibility. In return, customers are more likely to trust you and refer you to other friends and family.
Can build solid foundation of clients It's unlikely you will have one-off customers as a virtual assistant business. Typically, you have a solid foundation of clients that use your product and services regularly.
Cons Description
Crowded Space Competition is high when it comes to your virtual assistant business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A virtual assistant business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Taxes As a virtual assistant business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
Work can be repetitive You may find creating the same product over and over repetitive and tiresome. One way of avoiding this is to diversify product lines and revenue streams - this will keep things interesting!
Time commitment With becoming a virtual assistant, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.
Difficult to build trust with your customer With becoming a virtual assistant, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.
Impatient customers You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service.
You might struggle financially (at first)! If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.
Work is not always glamorous With starting a virtual assistant business, you may need to get your hands a little dirty. Although it may seem glamorous from the outside to start this business, the work can require a lot of physical activity and repetition.
Learning Curve When you start your own business, you no longer have upper management to provide you with a playbook for your roles and responsibilities. You should know the ins and outs of every aspect of your business, as every decision will come down to you.
The job can be demanding This is one of the major disadvantages starting a virtual assistant business. It's important to understand that you may need to make yourself available on a 24/7 basis.
You may need to relocate There can be a lot of opportunities that come your way when starting a virtual assistant business. Although moving around can be fun and exciting, it can also be physically and emotionally taxing for you and loved ones.
Equipment Breakdowns Over the years, your equipment can get damaged, break down, and may need repairs which can be expensive. It's important you prepare for these expenses and try to avoid damages/wear & tear as much as possible.
Answering Phones The virtual assistant business is still considered a traditional business, which means answering phones is a big part of the job. If you or your team miss phone calls, you could be missing out on potential revenue opportunities. If you are unable to attend to your phone throughout the day, it would be in your best interest to hire a call center or an employee dedicated to this.
Takes time to see results & make money Results and revenue do not come overnight with a virtual assistant business. Often times, it takes weeks, months or even years for your work to monetize.
Technical issues can be frustrating Technical issues are common in this business. If you struggle with the technical side of things, you may want to consider outsourcing this responsibility to save yourself the time and frustration.
More challenging to earn passive income It can be more of a challenge to make passive income in this business. Often times, the amount of revenue you bring in is limited by the amount of time you have in the day.