There’s little that compares with being your own boss. As a VA you have a lot of freedom. You choose your working hours. You choose your clients. You even set your fees and grow your business as you see fit. However, this freedom also means challenges. Owning your own VA business can be tricky. Let’s explore some common challenges of being a VA and how you can avoid them.

#1 Time Management

One of the great things about being a VA is that you get to set your own working hours. However, if you’re not good at managing your time, you could end up working around the clock. In addition to your client projects, you have a business to run. That means tasks like invoicing and email are on your daily to do list. Couple that with the normal responsibilities of life and you have a very full schedule. It’s then easy to see why some VAs never sleep.

However, with a good time management system, everything gets done. You get to sleep. It’s about scheduling your day. It’s about prioritizing. And you must make the most of your work time. Be productive! Eliminate distractions.

#2 Clients

Without clients you don’t have a business. Yet there will definitely be clients you wish you didn’t have. It’s okay. You don’t have to like, get along with or work with everyone. If you find that you’ve gained a client you just don’t want to work with there’s a solution. Honor your commitment and then refer them to someone else.

When setting up your business you can avoid problematic clients by taking a few steps. The first is to identify the type of clients you do want to work with. Create an “ideal” client. Write down all of the characteristics they have. What makes them ideal? When you’re searching for new clients, keep that “ideal” client in your mind.

Also make sure your systems support a good client relationship. Make sure you have established policies and procedures. Make sure communication is easy and straight forward. This will help ensure your client relationships are positive ones.

#3 Cash flow

As a service provider you only make money when you have client projects to work on. This can make cash flow a real challenge. No cash flow and you may have to take on a part time job or borrow. That’s not the goal here. The goal is to have a successful VA business. There are a few strategies to help.

First, create a savings account that can support you during the slow times. There will be slow times. Even very successful businesses have them. When you have savings to turn to, the slow times can be stress free.

Create systems that support consistent cash flow. For example, consider creating a membership program. Offer a discount to clients who sign up for ten hours of VA work each month. Then set them up on automatic billing. Membership programs help ensure you have consistent cash flow.

Finally, look for supplemental income. Become an affiliate for a product. Sell advertising space on your website. Create an information product and sell it. Partner with another business owner and earn referral income. When you have multiple streams of passive income coming into your business, cash flow management becomes much easier.

There are challenges to being a VA. However, the rewards can offset them. With a plan in place, you can overcome these challenges with ease. To your success!