4 ways to increase your earnings in your VA business

Do you want to earn more money in your Virtual Assistant business?

Erm……..d’uh Amy!

I honestly can’t imagine any VA telling me they don’t want to earn more money. Or anyone else in fact!

But what you probably don’t want is to work harder or longer hours, which I totally get.

The thing about running a VA business is that you’ll naturally have a busier season in the beginning while you’re getting everything set up and marketing to sign your first client. Once you’ve done that and the initial excitement has transformed into consistent business development and working with your client, you’ll probably come to a place where you’d like to earn more money.

Today I’m going to walk you through 4 ways to increase your earnings in your VA business.

1: Increase your rates

The simplest way to increase your earnings is to raise your current rates. You probably started at around the £25/$25 mark, which is a great place to begin when you’re just starting up. But once you’ve gained some experience and signed your first few clients (and got some great testimonials), it’s time to increase your rates. I do this yearly but you can choose a timeframe that reflects your expertise - and the madness of the markets of course!

Note: If you are planning on raising your rates, be sure to give your current clients plenty of notice.

2: Sign more clients

Signing more clients is an obvious way to increase your earnings. It can sometimes feel like there aren’t enough clients to go around but there absolutely are, ESPECIALLY for a diligent VA who is determined to build a business that allows you the freedom you want (like YOU)

Ask your current clients if they know anyone who they can refer you to, tap into your network of contacts and begin to ramp up your marketing. You can also ask your clients what else you can take off their hands, which will ultimately result in a higher monthly invoice.

Be patient, be consistent and push yourself out of your comfort zone. If you are procrastinating ask yourself ‘what does my business need from me today?’ Well, it needs you to sign another client, so go and do that!

3: Niche down or specialise

Building a niche or specialising in a certain system is another way to increase your earnings. There are certain tools and expertise that are in demand among VAs including ClickUp, Dubsado, Kartra and podcast management. There are heaps more too, and they’re changing all the time. You don’t need to learn everything at once so do some research to work out which tools interest you and which ones are most in-demand within your network.

4: Build a team

Once you’ve reached the limit of clients you can work with, the next step you might want to take is to build a team of VAs. They’ll be your Associate VAs and essentially they are self-employed VAs who you subcontract work to. You’re the one who finds the clients and ultimately ensure a high quality of work, but you’re far less hands-on. You’d pay an Associate around £20 per hour.

There are plenty more ways to increase your earnings - far more than I can fit in here! But hopefully this gives you some food for thought.

It’s important to remember that how much money you earn isn’t in the hands of other people. You’re the only person with the power to change what you earn. Not the potential client you’re hoping will say yes to working with you. Not the current client who you’re hoping will pay you more. Not the online business industry. It’s you. It’s always you.

That’s an empowering thought, isn’t it?

I support VAs in building businesses they love and ultimately earn more money. If you’d like to talk about what that can look like for you, head this way and book an obligation-free call with me