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Guest KimDM

I have a poll question

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Guest KimDM

How long was it from the time you 'opened your doors for business' until you were able to quit your other job? One of the ladies that wrote VA The Series was able to quit in 10 months, and I'm shooting for round about a year or so and I'm just curious how long it took everybody!

 

Thanks!!

 

Kim :rolleyes:

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I'll be curious to see the responses to this too :)

 

It took the closure of the corporation I worked for to motivate me to venture out on my own so I can't contribute as this wasn't a luxury afford me....... I can say that in five months time I reached an income level that was tolerable. I'm still not where I'd like to be, but a lot of that is do to recent changes in my personal life.

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To view a timeframe like that in terms of weeks or months or years can be a little tricky. It really depends on how fast you can get clients to work with you and your ability to put them on a retainer or semi-retainer status. The key to being a successful VA is to be as efficient and as supportive to your clients as much as possible, bringing your relationship with them to the level of 'almost indispensable'. In other words, long term relationship.

 

Speaking for myself, that's the one thing I'm always gunning for whenever I have a project, to give them the best possible service I can deliver that they wouldn't consider hiring someone else in the future if the same type of work arises in the future. You secure a couple of clients like these, and you see that they alone are enough to sustain your current standard of living even without a dayjob, then you know that you're already on the level to do this business on a fulltime scale and consider quitting your present employment. Hope this helps.

 

Gabs

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Guest KimDM

Right - I understand what you are saying, Gabby, and that nobody would be able to tell me how long it would take me, but I was just curious as to how long it took each person for themselves. Just out of curiousity, not that based upon their answers I will know how long it will take me. I have my goal set, and maybe I am just wondering as to what other people's goals were at the time that they were in the same situation as I am right now, and whether my goal is a realistic goal, in general. Maybe my goal is too unrealistic or maybe several people did it in a much shorter amount of time, like Brandy saying it took her 5 months to reach a tolerable income. Just wanting the info....

 

Of course the bottom line, I know, is how much a person is willing to put into it to reach their goal. :D

 

Kim

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I have been a VA for 9 months now and my income is still Part Time Income. If I wanted to work my business full time (40hours a week) I could. Also keep in mind, I do not charge $25 an hour for my services, close to it.

 

Also consider offering other services like eBooks, eClasses, etc. to other VA's once you have learned enough about the business, after running your business. in order to add to your income.

 

The flexibility and opportunity this career offers is well worth the risk. Yes, you do get out of it what you put into it.

 

 

Wishing you the best.

 

Monica

www.meansadminservices.com

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I took leave without pay for 12 months, determined never to go back. At the end of my first twelve months I grossed the same income as I had in the previous 12 months in a government job. That convinced me I was doing the right thing and gave in my notice.

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I took leave without pay for 12 months, determined never to go back. At the end of my first twelve months I grossed the same income as I had in the previous 12 months in a government job. That convinced me I was doing the right thing and gave in my notice.

 

Wow, Kathie, thanks for the thought. Though I'm aware your post was addressed to Kim, I'm also thinking long and hard about this especially now that I've started formalizing my own VA stint to be more than just a part-time career. I guess I just need to finish making plan B fast...and C! (it pays to have my safety nets open in case I slip B) )

 

Gabs

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I worked part-time as a VA together with a full-time job. My full-time job ended and I had no choice but to take my VA business full-time. Within 3 months I was making the same money but one must realize I was probably working 12-18 hours a day too to achieve this since over 1/2+ my billing time was spent on marketing during this period.

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I have been determined since day 1 to make this a full time business. Unfortunately I haven't had the success of others and I went backward. I took on a temporary full time job to pay the bills. Well that job ended after 12 weeks and I still don't have any money coming in from this biz. I'm trying, trying, trying not to have to go back to [w-o-r-k, shhhh, don't say that too loud].

 

I think I'm fishing in the right pond. :) I think I have the right bait. :naughty: I've had a few nibbles, but no bites. :wacko:

 

 

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For me it was 9 months, but I got a client that was big enough for me to make the leap....I typically suggest to those that I coach to save 9 months salary before leaving their full time gig.

 

Also remember, that you're going to be charging more (or you should be) than your employee rate and that you can't bill 40 hours a week or you'll be working 60 hours a week with all of your non billable work.

 

there's a pricing worksheet that Naomi has floating around here somewhere that's excellent in helping you determine some of the pieces of the puzzle.

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Hi Heather!

 

....I typically suggest to those that I coach to save 9 months salary before leaving their full time gig.

 

As I said earlier, next year will be my year to take the leap of faith to fulltime VA. I take your advise to heart, and now have saved some stash enough for 7 months' worth of expenses. The projects I'm getting lately are picking up quite fast, and I had to work till midnight (after office hours) to have them ready by the next day. All of my clients are happy with the work I do for them, and that makes me really charged up (aside from the coffee, of course LOL!)

 

11.18.07 is D-Day!

 

Gabs

 

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Hi Heather!

 

....I typically suggest to those that I coach to save 9 months salary before leaving their full time gig.

 

As I said earlier, next year will be my year to take the leap of faith to fulltime VA. I take your advise to heart, and now have saved some stash enough for 7 months' worth of expenses. The projects I'm getting lately are picking up quite fast, and I had to work till midnight (after office hours) to have them ready by the next day. All of my clients are happy with the work I do for them, and that makes me really charged up (aside from the coffee, of course LOL!)

 

11.18.07 is D-Day!

 

Gabs

 

 

WTG with setting a date!!!!! :) You sound like you're bound and determined to make it happen...I know you will!!!

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Guest Virtual Horizons

Very intersting thread topic...I started looking into the virtual assistance industry probably about four years ago (actually when the RDC calendar came out with the advertising for the Virtual Assistant Program). At that time it was a passing interest that I checked into periodically however now that I am currently on maternity leave I am very motivated to see my business succeed as I do not want to go back to a traditional job. I have been encouraged by reading through previous threads on this forum regarding people's experiences of setting up their practice that it can happen with alot of hard work and determination. My business partner is currently working full-time in a traditional job and our plan is be able to generate enough work for both of us to eventually work from each of our homes. As it stands we have a few clients already though networking and marketing are high on the to-do-list :D .

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