Hello.

Maybe this one is a better forum to post this question...

We are 3 experienced legal assistant that have decided on setting up a virtual assistant company.

We are confused and undecided as to how to distribute work and earnings between the 3 of us.

Should be decide on splitting the work on specialties, for example 1 person will handle translations the other person will handle travel arrangements and the third will handle transcripts no matter who brings in the client, but then how do we distribute the earnings from that particular project?

Or should be decide on whoever brings in the client does the work, but then how do we distribute the earnings in this situation?

We can't come up with a fair deal? Any ideas???

TIA
Valerie

What about basing the distribution on percentage of time worked (assuming that your skills are interchangeable and therefore equally valuable)? Ex. LA1 worked 10 hours, LA2 worked 10 hours and LA3 worked 15 hours. LA1 & LA2 would each get 29% of the earnings and LA3 would get 42%.

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

You could set up the company in a number of ways. I would suggest forming a Partnership.

Set up the Partnership and assign each individual a percentage share. The percentage could be split up evenly or based on commitment restraints. (i.e., if one member can only commit part-time, then they could be assigned a smaller percentage.)

As projects comes in, take turns assigning the work. VA1 takes work, then VA2 takes work, then VA3 takes work. If a project entails multiple tasks, then split up the work.

All proceeds would then go into a company account. These proceeds would be distributed to each VA based on the percentage that was originally set up when the company was formed.

Ultimately, this is a decision that needs to be agreed on by all participating members. Talk it out and see if you can come to an agreement.

Best of Luck,
Julie

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Julie | Virtual Resource Services, Inc (VRSI)
http://www.vrsioffice.com