Updated: May 25
It can be hard to know what direction to invest in when it comes to your Virtual Assistant business. There are so many options and knowing what direction to go in can seem confusing and even worst cost you an arm and a leg. What if you made the wrong business investment decision and it resulted in losing money with no gain in sight? Been there and done that. Take it from me, not all investments are the right investments for your business. I have listed my top returns (ROI) on investments below. Choose what you feel is best for your business.
Coaching or Consulting - When I first started my business, I did not think that spending money on a coach was necessary. I will admit it I was wrong. I can not harp enough about how important it is to seek guidance from an expert. I currently have a mindset coach and a business coach. It has allowed me to make some of the best business decisions for my business. It also keeps me inline. Running a business, being a mom and a wife, it can all be a bit overwhelming. My mindset coach helps me to stay mentally alert and calm at the same time. I can organize my business and home life together. My business coach helps me to make the right business decisions. There is something about talking about what I want for my business and then receiving support and feedback to steer me in the right direction.
Learning Opportunities - I can not say enough how much my business has flourished from all of the programs I have purchased. Learning a skill set from an expert is the best way to bring more value to your business. When I first started my VA business I did not know how to process billing. I had more than 50% of my clients ask if I offered billing and I had to turn them away. Finally I said to myself the next investment will be for me to learn billing. The ROI on that purchase is still happening. I also noticed that when I spoke with potential clients that what they really needed was a coach to help them get their practice organized and on the right track. That is when I looked into training to be a coach and now I have a separate coaching business for practice owners on top of the VA business. I saw a need and then found a learning opportunity that provided the solutions my business needed to grow.
Books - I can’t even tell you how many books I have read that have positioned my business for success. What I can tell you is that out of all of the business investment opportunities, reading strategic books is the least cost effective way that my business took off. I have an audible account and I pay $15 a month for about up to 4 books a month. I am always reading and always learning new skill sets because of it. Think about something you would like to learn and then find a book that will teach you that new task. I have a book journal and I write down all of the tips and tricks I learn from reading that book that I want to apply. If you are new to investing in your business or on a budget when investing in your business start here.
The Right Business Tools - Setting your business up to run smoothly is the key to maintaining success. Sometimes there are certain tools that will make your life easier. However the price behind it is something you are not comfortable with. I came across this situation before and most of the time I waited too long to invest in the tool because I couldn’t get over the price. For example, (don’t laugh) when I first started sending out newsletters I had two Mailchimp accounts because I did not want to pay for one account. Instead I had two free accounts. I would create one newsletter in each account once a month. I really thought I was saving money, even beating the system. When I think of this mistake now I know my reasoning was silly. My time is valuable and worth way more than what the monthly price to pay for Mailchimp was. Weighing out the value that a tool will bring to your business is the first step in deciding if it is the right tool to invest in.
Self Care - Anyone that has a business knows that the road to burn out is a very bumpy one. I have been there before. However what I have found is the best way to avoid burnout is to incorporate self care into my routine. Your routine will look and feel different than mine but hopefully mine will give you some ideas for your self care routine.
Reward Yourself with a Small Gesture when you get a New Client. Oftentimes I will take the family to their favorite dinner or plan a small trip to our favorite beach. Sometimes I will even schedule a massage or facial. I give myself little rewards in the form of self care.
Stay Heavily Meditated. That’s right, meditation is part of my self care routine. It is time that I intentionally take for myself. It provides a space of calm and relaxation for me to be with myself. It is one of my favorite parts of my self care routine.
Align Your Schedule to Allow Lunch and Free Time Every Day. Just in case you didn’t know I run 3 businesses. A VA Business, a Coaching Business and a VA Training Business. I am very grateful for where I am today and I make sure that I remind myself of that by taking time for myself in the day. Even if it is just 30 minutes to eat and 30 minutes of crafting. When I add those little moments to my day I become more creative and motivated.
Stay as Mindful as Possible. If I do not have time to physically go to a trail (one of my favorite things to do) then I will find other ways to be mindful at home like bird watching, gardening or playing with the chickens. Just being in nature with no work thoughts or any thoughts at all is extremely restoring for me. Sometimes I even read while just sitting outside listening to the birds.
Stick to Your Boundaries. This is self care for me because I have a hard time saying no to growth. For example, When it comes to getting a new coaching client, I have specific coaching hours. However if a new client says they can not meet during the times I have available I would make exceptions and move my schedule around. Not anymore. I came to the conclusion that when I do that it causes two things to happen. 1. My schedule becomes more hectic than I would like it to be causing me to pull from other time slots that affect my family and home life. 2. The client isn’t aware of my boundaries and may continue to become pushy in future situations. Therefore now I explain to my clients that they will need to move their schedule around to work with me as I have certain boundaries in place to help keep my life organized. If they choose not to move things around then they were never serious about us working together.
At the end of the day when you make an investment for your business you are making an investment in yourself. Evaluate each investment and think about what the ROI (return on investments) will be. Consult with an expert if you need to so that you feel more comfortable with your business investment decision.