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Does a Virtual Assistant need a business plan?

If you’re thinking about starting a virtual assistant business, or as you’re trying to succeed in your existing virtual assistant business, you probably wonder if you need a business plan. While you don’t really need to have a formal business plan in place to be successful, going through the process of creating a virtual assistant business plan can certainly increase your chances of success, and help you stay on a planned path.

Business plans can help you avoid the so-called “shiny object syndrome” that afflicts many online entrepreneurs. By having a written description of your business you can, when in doubt, look at your business plan as kind of a map to decide whether or not this new “thing” fits with your overall business goals moving you closer to your destination.

You don’t have to be that fancy to write a good business plan. Simply cover the important aspects of your business such as:

  • Date your business started
  • Your back story
  • Location of your business
  • What services you’ll offer
  • To Whom You will offer services
  • What prices you’ll charge
  • Where you are now
  • Where you want to go

It also helps to include what types of technology you will need and use to provide stated services, or whether certain services will be outsourced and to whom and under what circumstances. It is not uncommon to study your competitors during this process. It is very important, in fact, to study what others are doing, what they are charging, and how they perform. By doing so, you can differentiate yourself in some way.

Business plans for virtual assistants can also assist you when creating your website because you’ll have a written plan of everything you will offer, why you offer it, and how you will do business. No one ever has to see your business plan but you. Many times when a business wants to borrow money from a bank the bank will ask to see the business plan but in your case, you’re not going to need to borrow money from a bank so it is tempting to forgo the business plan. But, if you really want to take your business to the next level and become very successful consider writing an informal business plan.

If you’re not sure where to start you can read books about business plans, or find some examples of Business Plans on the Internet by looking them up using Google Search. Alternatively you can work with a business coach who is familiar with what Virtual Assistants do to get a plan written and put in place. It’s up to you how you do it, but if you really want to be successful I highly recommend an informal virtual assistant business plan.

About Stephanie Watson

Mom | Wife | Virtual Assistant | Content Strategist
Stephanie has been working from home for over 20 years as a virtual assistant, template bender, and content writer. She's currently transitioning to business coach. You can learn more about her at her website http://www.barrypublishing.com.

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