I was inspired to post this question by an archived teleseminar on the importance of setting up small business policies.

What are the three most important business policies you've set in place for your virtual assistance practice?
And, of course, why are they are important?

Did you set them up in advance of opening your practice or as you went along and encountered the issues...then set up policies in response? (You live and you learn!)

Please reply here with your most important business policies.

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11/2010 ADMIN UPDATE:

Big thanks to VAF member AssetVirtual - Daniela was generous enough to compile, organize and edit this list into a PDF for download for use by other members. Thank you Daniela! Grab the document here, print it out and use it to help you develop your own business policies.

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(1) I don't pick up incoming calls unless they are scheduled. I do this because the phone can be a HUGE time waster. I prefer scheduled, to the point calls. I recently implemented a toll-free, automated system that e-mails my voice mails to me so that I can listen to them in a batch and when I want to

(2) Trust. This comes into play with both my sub-contractors and my clients. I need to trust them and although this doesn't sound like a true policy, it really means a lot in business to want trust and to be trustworthy.

I can't think of anymore right now... It's getting late in the day!

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Sincerely,

Erin Blaskie of Business Services, ETC

1) Ditto on not answering my phone! and I only check my email 3x daily (1st thing, lunch, last thing)

2) I won't start work without a signed contract

3) Any non-standard work requests MUST be in writing (email is fine). This prevents misunderstandings.

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

My own most important policies include:

-Late payment policy- (I bill on net 14 and anything later is penalized, and again if not paid by 30 days. After that it's another story)

-Deposits- *every* new client makes a straight $500 deposit that I hold against their final invoice or 6 months, whichever comes first and/or makes sense based on their payment performance.

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Mine..

1. Signed contract--wow, how important is this and I don't work without it.

2. phone calls-- I don't answer calls without having an appointment either. My time is precious and phone calls can drag on.. so if the client wants to talk with me, it needs to be planned.

3. Deposits--I require half of the 1st invoice upfront. Also my late payment policy has saved me several times.. I have it on all my invoices very clearly.

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Winslow Girl Virtual Assistant
www.winslowgirlva.com
Taking Virtual Assistance to the Next Level

Of course the obvious --

1. I won't begin any work unless I have a signed contract.

2. 30 days billing cycle (which I am reconsidering).

3. I wish I couldn't answer the phone, but my husband will call at least 5x a day. Of course, I tell him I overwhelmed with working and it amazes him because I work from home. (wow, what a cliche')

4. Weekly progress reports for the client now (I only have 2) and they are generally email. (Let me know your opinion on this please).

5. Try and not work on the weekends.

As I establish more clients, I believe this will change.

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Be Well,
Carla
www.bwellbusinessservices.com
virtually meeting your needs

mine will be:

1. the signed contract
2. phone calls (i am NOT posting my phone number on the website as a. it's my private number and b. i hate phone calls most of the time anyway
3. don't work at weekends (i'm normally down at my brothers every weekend, he lives in somerset/devon - and yes i may promote my business down there!! - he may be my 1st client...!!!)
4. payment on invoices (10 days after date of invoice)

that's it for me for the moment...

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Julia Neal ...because we ♥ admin!
http://julianeal.wordpress.com

Originally Posted by OfficeButterfly

phone calls (i am NOT posting my phone number on the website as a. it's my private number and b. i hate phone calls most of the time anyway

I had the same attitude but was told here (and by several other people!) that some people won't contact me w/out a phone number. I publish my cell phone as my business phone number and set my "generic" ring tone to "silence" (I created a 30-second ring tone of NOTHING) . I check my voice mail on the same schedule as me email (3x daily) and respond accordingly.

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

We're setting up a Skype incoming number for our business line - it's like $6.00 a month flat and comes with voice mail (among other fabulous options.)
That way our home phone remains private and there's an easy way to turn 'off' the business line but still give clients a way to dial in if need be since it's VOIP.
We have yet to *give* the number to anyone though - email is always the preferred method of contact - it keeps requests in writing, records the progress of conversations, discussion, and agreements and it's easier for me to decipher multiple and/or complicated directives and requests when written.

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hmm i wonder - would it be easier though to get a generic 'pay as you go' sim card? Or, i could get a mobile phone with skype incorporated for under £50... decisions, decisions. what would you prefer?

with regard to phone numbers, I am going to put it at the base of my signatures, but I can't put it on the website....

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Julia Neal ...because we ♥ admin!
http://julianeal.wordpress.com