How much do you really need to invest?

Learn how much you really need to invest.

As long as you've got a computer and internet access, it costs

ZERO DOLLARS.

You read that right. There are no REQUIRED investments you need to make as a VA. There are definitely things you can invest in, like a website or paid advertising, but they are definitely not necessities and you can still make money without those things.

A laptop in particular can be a huge advantage because virtual assistants may need to work from different places based on their to-do list. If you're planning to do any type of graphic design, you might consider to invest in better equipment or software to meet client expectations.

Optional Investments:

You can use your birth-given name when referring to your business simply by saying "Hi, my name is so and so, and I'm a virtual assistant." Or, you can Register A Business Name like mine, Virtually Rylee (Approximately $25 - $50 one time fee depending on your state).

Calendly has a free option with one meeting link to send to clients, which you can use for consultations, onboarding etc. BUT if you wanted to create more than one link for separate events, the cost is about $8 per month.

There are many websites that give free trials for contract signing, because yes, you do need a contract. Sites such as HelloSign, DocuSign, or Adobe Sign are all options. Adobe Sign has been the cheapest I've seen so far at $10 per month. You can also find a FREE customizable contract template here. If you have a Mac computer or laptop, you can easily sign documents free from your computer. You do not need to pay for a lawyer to draft or proof a contract, so if anyone told you that (like a lawyer) - it's bologna.

If you have a contract, that is a great back up for if something did go sideways with a client; however, I would also consider investing in insurance. Insurance is a good idea for a few reasons but for VAs, in particular, the reasons are because of the damage they could inflict on their client’s reputation and business. If you choose not to have insurance, make sure you definitely use a contract and have a lawyer that you trust and could contact if needed.

Dubsado is another really great platform that includes appointment scheduling, contract signing, project management, time tracking and much more all in one. It's basically everything you need in one platform! Again - NOT a required investment! This platform is free for the first 3 clients (no time limit) and then $35 a month. Use the code VirtuallyRylee to get one month free! Keep in mind, this can be a very complex tool, as there are a lot of moving parts. An alternative would be HoneyBook, which has fewer moving parts than Dubsado and works just as great.

Another thing I highly recommend is a business bank account, which you can usually open locally totally free. I recommend using credit unions, but other banks often have a promotion when you bank with them. To open a business bank account, you will need an EIN number (also free), which we will talk about later in the course. Keeping your business funds separate from your personal funds makes tax season MUCH easier. An optional investment to track expenses and income: QuickBooks Self-Employed - As little as $7 per month.

The book, Profit First by Mike Michalowicz is a $20 book that can help you understand more about how to handle your business funds. Again, only a recommendation for you savvy readers.

If you're into graphic design, Canva Pro is a really great tool to start with. It's free to use, but has many great features at only $9.95 per month.

If you do decide that you want a website, VistaPrint Website Builder is one I have used and starts at $5 a month. Wix is another easy to use platform that has free templates and is simple to use. Wordpress is another great, cheap platform. You can have someone make your website for you, but that will costs a few hundred dollars at minimum, and it's definitely not a necessity - especially when you can have a FREE Facebook Business page.

EveryDollar App is known for personal budgeting, but is great for business budgeting too. It's free to enter your transactions manually or $12.95 per month with automatic transaction tracking.

What are the ongoing expenses for a virtual assistant business?

Expenses for VAs tend to be low, and may include standard utility bills and equipment maintenance/replacement. Depending on your clients, you may be able to ask them to pay for specific materials based on their needs (e.g., special software, etc.)

So there you have it, as long as you have a computer/laptop and internet access or a local Starbucks, it is 100% FREE to start your business as a virtual assistant - no risk taken! The only investment you make (other than this course) is your time.