My Overhead as a Virtual Assistant
Last blog post we talked all about how to make an extra $1000 a month as a VA and I mentioned in that post that is BEFORE taxes and expenses are accounted for. Well, in this blog post, I am going to be sharing a little more about what those expenses look like so that you can get a good idea of how much money you will actually be “taking home”!
Now I will start by saying that this is going to widely vary depending on the services you offer and the level of your business is at. My expenses NOW in my business are much different than when I first started because I have a team and some different things I use to manage all the things so I am going to be sharing more about what my overhead was when I was just starting my business since I know that is where a lot of you are at and that is probably more helpful than sharing what it looks like now! But this is very fluid and always changing so keep that in mind too!
When I first started my business, my overhead was VERY low! And I think that should be the case if you are starting out! There is no need for any crazy overhead when you are new in this business which is such a blessing because there are plenty of other businesses where that is NOT the case! Also, you can figure out how lean you want to run your business in this industry! There are some things that you will feel are a good investment and others that you don’t! So let’s first start by talking about what my overhead was and what I was actually investing in, and then I will go over with you what I would recommend for you and what I would “do over” I should say!
Okay, another caveat, I am not going to talk about things like cell phone and internet and laptop and that kind of stuff because chances are you have that already, however, definitely talk to your CPA about how you can write those off, or a portion off, as a business expense! (A CPA would be another type of investment too) I am talking about the monthly subscriptions and consistent investment that it took to keep my business running effectively!
First up:
Honeybook
Honeybook is a platform you can use to send invoices, contracts, questionnaires, and schedule calls! It's a perfect tool to communicate with clients, set up automation, etc. It's $40 a month BUT the first 6 months are only $1 if you use my code! There IS a small percentage in fees but any payment processor would have such. Would very much recommend Honeybook for your VA business.
Canva Pro
There is a free option for Canva, HOWEVER when working with multiple clients, and even if you are just using this source for yourself, I find that paying $10 a month for PRO is far more worth it and has many more options at your fingertips! Definitely recommend it for creating graphics, templates, and much more.
Quickbooks
A great bookkeeping tool that's $27 a month. I used to use it but now I use a spreadsheet from my friend, Meg @borntoroambookkeeping on Instagram for all that!
Flodesk
As a firm believer in not just using Instagram for your business, Flodesk is something I recommend when it comes to email marketing. It's $30 a month and although email marketing isn't a necessity when you're just starting out, it was something I already had in place and have continued throughout.
Squarespace
YOU DO NOT NEED A WEBSITE- I already had one in place from my previous business and merged it. Squarespace is $33 a month but Milkshake is a free website tool you can use (more like a landing page) or you can even create websites in Canva now!
There are obviously other things I used and still use in my business as well like email, Clickup, Zoom, etc BUT they all have free options that I used for MONTHS before upgrading! So those weren’t initially part of my overhead! And then I obviously made more investments down the road like a contract (I was just using a template through Honeybook at the time!), some other programs, someone to do a full website redesign, stuff with the podcast, my own VA, etc!
But I am 99% sure that was it in terms of the initial software and programs I was actually paying for! So less than $150 a month roughly (depending on free trials, discount codes, etc), and then the contract.
So as you can see, the overhead is so minimal. None of these things I think are a MUST HAVE - and if I recommended two things, it would probably be Honeybook and a contract (but again, Honeybook has templates you can always use too).
This is one of the many reasons why I think being a virtual assistant is a really great business to get started in! The overhead is minimal, you can run your business as lean as you want, and there is just so much flexibility in it. That being said, if you are looking to invest in the knowledge and education to actually get your business started, my signature program, The VA Roadmap is still open for enrollment and will be until March 31st! I created the program to help you take the guesswork out of starting your business and give you all the answers you are looking for! Plus with the VIP enrollment, you get access to our Facebook group where you can ask questions anytime you want, jump on monthly office hours, have access to bonus trainings, and connect with other women starting their VA businesses too! Head to yourbtsbff.com/varoadmap for more details!
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