Hello

I am in the process of getting my VA business off the ground.

I was wondering if any of you think your business or the VA industry is affected by the downturn of the economy?

Do you think this is a bad or great time to try to start going?

Hi Lisa
I can say that I do see a change in some of my clients' feelings about how much money there is for certain projects but I don't necessarily think the downturn in economy makes it a bad time to start up a business especially when you consider the very premise behind why it's economically sound to work with a VA (IE - only invoiced for time on task, no need to handle taxes or insurance or office space or supplies, etc.)

What are your own thoughts on this?

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I haven't seen the economy impact the work I get from my clients...now, but I am making sure that I am stepping up on my marketing and business building in the meantime. As companies are laying people off or putting off hiring, it may be a good time for us (VAs) to come in and prove our worth!

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Doreen R. Patrick, MVA, ACS, CIVA
www.virtualbusinesspartners.net

Its still new and uncertain, but as my husband and I were discussing it this morning, we think that business might actually improve. Once we educate them on the savings via our employee vs VA chart, this would be an obvious better choice.

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Tamika R. Johnson, MBA, Principal
administrative partners, llc
www.administrativepartners.net | http://adminpartners.blogspot.com

I agree with Tamika. I think as employers look for alternatives our business will grow. I have not lost any clients due to the ecomony and just talked with another potential yesterday. If you keep on your marketing and honing your skills I think it will grow inspite of job losses around the country.

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Lee Drozak
My Office Assistant

Hi

I think the economy will help us virtual assistants. What I'm finding is a lot of companies have had to downsize, yet still have the same if not more workload. We just need to really promote us more as helping them through this crisis. Also, if you offer any marketing or publicity services, you can market that you can help businesses survive and thrive (even now.)

One thing that has changed is you really want to make sure you get paid in advance. I know most do with retainers. I personally know of virtual assistants who because the company laid off unexpectedly, they lost money. That's where it's kind-of scary. I dislike having to be so strict on my Pay first policy, but now more than ever I do.

Thanks!

Diana Ennen
Virtual Word Publishing
www.virtualwordpublishing.com

Originally Posted by DianaEnnen

One thing that has changed is you really want to make sure you get paid in advance. I know most do with retainers. I personally know of virtual assistants who because the company laid off unexpectedly, they lost money. That's where it's kind-of scary. I dislike having to be so strict on my Pay first policy, but now more than ever I do.

Good point, Diana! I must admit, I'm not great with this in my non-retainer clients, and I'm now waiting on payment on a rather large project I worked on, and the client has been absolutely non-responsive for several weeks. Guess I better learn my lesson and get my act in gear!

As far as the economy goes, I think everyone is right about it having a positive affect on VAs. As a provider on Guru.com and Elance.com, I see new projects posted every day. So the work is there, and somebody's got to do it. Might as well be us!

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Tammi Metzler ~ The Write Associate
Free call: "How to Write Email Subject Lines That Grab Attention!"

I agree with you Tamika. Many businesses are laying off employees because they simply can't afford to keep them on staff. That's where VAs can step in and explain how using a VA is much cheaper than in-house employees.

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Bobbi Dust
http://virtualbizconcepts.com

I haven't seen a trend in this yet but I am leaning more and more with certainty that VAs are on the top list to have employment. I believe employers are still analyzing pros and cons. I hope we can move strongly to increase hirees in VAs. I know this would help those who are unemployed...what are your thoughts on this?
Lauren Smith
www.delegationnation.com

I believe that the present economy presents both a challenge and an opportunity to the VA's. I am rather new at this but have been in business before. In my view most employes are looking more at the bottom line. Hiring a person, having to pay all the overhead, training them and then having to lay off workers is something that most employers dread. The VA relationship is much easier.

It is true that some companies are running out of money and leaving workers holding the bag. That's why we have to be increasingly careful to protect our income by obtaining a deposit or retainer when needed.