How to start a virtual assistant business?

Hiring a virtual assistant can make a world of difference for a busy business owner or entrepreneur. Virtual assistants can help handle everything from day to day administration to social media marketing, graphic design, travel and event planning and more - freeing up time for the business owner to focus on growth.

If you plan on starting a virtual assistant business, there’s never been a better time. Remote and flexible working is commonplace, and businesses need ways to flexibly bring in resources to their team for short term projects and ongoing collaborations.

This guide covers all you need to know about how to start a virtual assistant business, from defining your niche to receiving payment from your first client, with an international account from Wise Business that allows you to connect with customers around the world.

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What does a virtual assistant do?

Before we look at how to start a virtual assistant business let’s start with the day to day work of being a virtual assistant - often known as a VA.

Virtual assistants work remotely, as independent contractors or freelancers. This allows them to take on multiple clients, and offer a range of services. Core VA tasks often sit around administration - but some virtual assistants can also offer more specialised services, often with higher price points. Additional services can include:

• Accounting or bookkeeping
• Data entry, data base management and other clerical tasks
• Social media and blog management
• Graphic design
• Travel and even planning

A virtual assistant doesn’t become an employee of their client, and doesn’ t require desk or office space - which means business owners can bring VAs in to cover specific tasks, projects and needs without needing to restructure their core team.

How to start a virtual assistant business: Step by step

If you’re thinking of starting a virtual assistant business there’s no one single path - but some common steps to take include:

Define your niche

The beauty of being a VA is that you can work on projects you enjoy, have experience in and can demonstrate the skills for. Consider the niche that might fit - whether that’s offering an all round VA experience, or specialising in a particular task or type of client.

Make a business plan

Planning is the next essential. The format your business plan takes can depend on your preferences and your specific ambitions, but there are plenty of templates and pointers available online which can help you get a feel for the areas to cover while you set out your aspirations.

Understand legal and tax requirements

If it’s the first time you’ve worked for yourself it’s worth taking time to familiarize yourself with the legal requirements - such as registering a business or as a sole trader - and your tax duties. Professional advice might be needed here - talking to an accountant, business advisor or tax specialist can help make sure your launch is stress free.

Build your digital footprint

It’s common for VAs to find their clients through freelance marketplace sites like Fiverr and Upwork - creating digital profiles here is a great start at connecting with customers. You may also want to invest the time to create a simple website to market to clients directly.

Set up a business account

Even as a sole trader or freelancer, a business account keeps your personal and company money separate and makes tax compliance and accounting easier. Look at providers like Wise Business which have powerful international accounts which allow you to get paid from clients around the world, with low or no fees, and the mid-market exchange rate. As a VA you can connect with clients globally, and this allows you to keep more of your earnings for yourself.

Get your first clients

You’re ready to start connecting with clients - get marketing yourself, and be prepared to adapt and evolve your strategy as you get more experienced.

Hire a virtual assistant for your Australian business

Running a business means wearing a lot of hats - and having the services of a VA can be an enormous help, to allow you to focus on your core activities and remove some of the day to day distractions. If you’re thinking of hiring a virtual assistant for your Australian business, sites like Fiverr and Upwork offer plenty of opportunity, with reviews and ratings from previous customers which can help guide your choice.

You’re not bound by geographic location as your VA will work remotely, so you can choose from service providers all over the world. Take a look at the options on your preferred site, to get a feel for the services available. You’ll be able to search and filter based on your specific needs, or you can create a gig profile detailing exactly what you’re looking for, to receive quotes from freelancers around the world who can provide the services you need for the budget you set.

Another option is to ask around for word of mouth recommendations for a VA, which may allow you to connect with someone without working with a platform like Fiverr. This can mean the VA keeps more of their pay, as there are no platform fees to consider.

How to pay a virtual assistant

If you’re paying a contractor overseas - including a VA - see how Wise Business could help, with low cost international transfers for business to 150+ countries.

Having a Wise Business account for your Australian company empowers you with the ability to send money to 40+ currencies around the world at the mid-market exchange rate. There are no ongoing fees and no hidden costs, allowing you to work with freelancers or contractors in other countries and pay them conveniently in their preferred currency with low fees and a great exchange rate.

Wise Business helps streamline overseas business payments without foreign transaction fees, saving up to 3x compared to other providers.

• Free to register — Send money to 140+ currencies with no hidden exchange rate markups
• Make up to 1,000 transfers at once with the Wise batch payments feature
• Fast, low-cost payouts to customers, freelancers, employees, investors, and suppliers globally
• Automate invoice payments, recurring transfers, and international payroll
• Fast and fully secure payments through Wise, even for large amounts

Tired of hidden fees and complex processes when making overseas payments?

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Conclusion: Starting a virtual assistant business

If you dream of starting a virtual assistant business, now might be just the right time. As remote working is more and more common, and businesses look for smart ways to build a flexible team, virtual assistant roles are increasing. It’s a competitive market, but by defining your niche and being clear about what you can offer, you can build a great portfolio of clients, with little upfront outlay to worry about.

Before you start to work with customers you’ll need a business account to be able to receive payments in AUD and other currencies. Using Wise Business lets you take payments from around the world with local and SWIFT account details, allowing customers to pay you in their preferred currency. Wise uses mid-market exchange rates and low, transparent fees which means you could keep more of your money when you work with customers abroad.