Choosing Your Path As A Beginner Virtual Assistant: Agency vs Freelance Business

Understanding The Virtual Assistant Landscape

The role of a virtual assistant (VA) has become a vital part of modern business. VAs remotely provide various administrative, technical, and creative services to companies and entrepreneurs. VAs are versatile professionals catering to diverse business needs. From social media management to content creation and specialized tasks like graphic design or bookkeeping, VAs are indefensible assets to businesses and entrepreneurs.

There has been a surge in the demand for virtual assistants in recent years, brought on by the growing trend of remote work and the increasing need for businesses to streamline operations while maintaining costs. Large and small companies recognize the value of outsourcing tasks to skilled VAs, allowing them to focus on core activities and strategic growth. This growing demand presents numerous opportunities for individuals looking to enter the VA profession.

For beginners, there are two primary paths to consider when starting your virtual assistant career: working for an agency or establishing a freelance business. Both options offer distinct advantages and challenges, so understanding these key differences is crucial for making an informed decision.

Working for an agency usually provides a more structured environment, established client bases, regular work, and often, training and support. This is a great choice if you prefer stability and the backing of an experienced organization. When I began over a decade ago, I went the agency route, and while I do it as a freelance business at this point in my journey so that I can focus on my other entrepreneur/businesswoman adventures, I also still contract with Time, Etc - a well-known, award-winning virtual assistant agency catering to entrepreneurs.

Working with an agency ensures your income is stable and you've always got work. I choose to stay with an agency alongside my business adventures to maintain a stable and regular source of income. At the beginning of your career, I suggest contracting with a reputable, established agency to get your feet wet.

In comparison, starting a freelance virtual assistant business can be a good idea if you want greater flexibility and the opportunity to build a personal brand. As a freelancer, I get to choose my clients, set my rates, and tailor my services as I desire. Often, I cater to services that allow me to use my strengths, skill set, interests, and passions. The freelance path can potentially be more rewarding; however, it requires more self-motivation, business acumen, and marketing efforts to attract and retain clients.

Understanding the differences between these two paths can help you choose the option that best suits your career goals, lifestyle, and personal preferences. Let's dive into it, shall we?

Working for an Agency: Pros, Cons, and Earnings

When you first begin, working for an agency has numerous advantages. One of the primary benefits is job security. Agencies usually have a steady stream of clients, which means work is consistent. This provides a steady and reliable income, which is, vital when new to the virtual assistant field. Agencies also offer access to a diverse client base, allowing you to gain experience and build your portfolio without seeking out clients independently.

However, there are some drawbacks to consider. Working for an agency usually means you have less control over the assignments that come your way. Agencies assign tasks based on clients' needs and internal priorities, which may not always align with your preferences or expertise as a VA. The pay is potentially lower compared to freelancing. Agencies take a portion of the client's payment as a fee for their services, which can result in lower earnings for the VA.

On average, as a beginner working with an agency, you can expect to earn between $12 and $20 per hour. This varies depending on the agency, the difficulty of tasks, and geographic location. For example, more specialized tasks or agencies located in areas with a higher cost of living may offer higher rates. Here are five agencies you can check out as a beginner to start looking for VA jobs:

• Time Etc. - I'm proud to be a member of the wonderful team at Time Etc, which specializes in matching VAs to clients based on skill sets and preferences.

• Belay Solutions - Known for its robust onboarding process and supportive community for VAs.

• Boldly - Provides competitive pay and opportunities for growth within the company.

• Virtual Office VA - Provides training and support for beginner VAs.

• Fancy Hands - The first agency I contracted with as a Virtual Assistant at the beginning of my journey. I loved them because they have a steady flow of work, a great community, plenty of training materials, and competitive pay. They do a task system where you select from a list of offered tasks, complete them, and move on to the next one. You can log on to the dashboard 24-7 and work as much as you want, provided you maintain acceptable work standards.

Deciding to work for an agency provides a balanced blend of security and opportunity, which makes it an attractive option if you are at the beginning of your virtual assistant adventure.

Starting Your Own Freelance VA Business: Pros, Cons, and Earnings.

Embarking on a journey as a freelance virtual assistant (VA) can be an enticing option if you are seeking autonomy and flexibility in your career. One of the main advantages of becoming a freelance VA is having complete control over the work you take on. As a freelancer, you can select clients and projects that align with your skills, interests, and lifestyle, which allows for a more tailored and, in my opinion, satisfying professional experience.

I love having a freelance virtual assistant business because it allows me to explore various options for clients and projects. It also keeps my work varied and interesting. I specialize in social media, digital marketing, content creation, writing, and branding; however, to keep my work interesting, I often include clients needing other types of tasks taken care such as spreadsheets, research, document formatting, and email triage.

With Time Etc, I'm provided with a list of clients to choose from, their needs, details about them and their business, and if I want to work with them, I hit the apply button. A manager sends my profile to the client, and I wait to see if I've been selected as the client's assistant. I'm in control of the clients I add to my roster, which I greatly enjoy.

Another significant benefit of being a freelance virtual assistant is the potential for higher earnings. Unlike working with an agency, where a portion of your earnings goes to the agency, freelancing enables you to set your rates and retain all your income. I have a set rate at which I'm paid by Time Etc, and I charge rates for clients I seek out independently who are not part of the Time Etc client base.

Often, the rate I charge for my independently sought-out clients or clients who find me on their own is higher. I charge a higher rate because I have to do everything it takes to get the client, such as marketing. Time Etc handles all the client-facing stuff for me, so they take a portion of my earnings, which I am happy to give because finding clients independently can be daunting and costly, depending on my marketing and onboarding duties.

The average salary for freelance VAs can vary widely based on your experience, skills, and complexity of tasks, but it generally ranges from $20 to $45 per hour. Some tasks, such as social media management, digital marketing, graphic design, website work, and other skill-heavy tasks, command higher rates of $100 per hour or more.

Freelancing is not without its challenges, however. One of the main drawbacks is the need for self-discipline. As a freelance VA, you manage your schedule, meet deadlines, and ensure high-quality work. You have to have a strong sense of motivation and organizational skills. In addition, the uncertainty of income can be a significant concern. Unlike a salaried position, freelance work can be inconsistent with periods of high demand followed by lulls in the workflow.

Establishing a client base ensures your income stays stable and consistent. This is why I stay with an agency. Even though I'm not new to the virtual assistant or freelance world, there may come a time when my services are not in demand, which would mean a lapse in my income. Plus, Time Etc is just awesome. I love contracting with them.

Finding and retaining clients is another crucial part of freelance work. You must utilize various platforms and methods to build a steady stream of clients. Popular platforms to find clients include Upwork, Freelancer, and Fiverr, where you can create a profile and bid on jobs. Networking through LinkedIn and joining VA-specific groups can also be effective strategies. Creating a professional website and using word-of-mouth referrals can help establish a reputable and reliable client base.

Although the path of freelance virtual assistant comes with challenges, the potential for higher earnings and freedom to choose your work make it a compelling option for many. Staying disciplined and actively seeking out clients, you can enjoy a rewarding and dynamic freelance VA career.

Making the Decision: Factors to Consider

Choosing between working with an agency and starting a freelance virtual assistant (VA) business is a huge decision that relies on various factors. As a beginner virtual assistant, it's crucial to consider your preferences, financial needs, and long-term career goals to make a more informed decision. Here are some key factors to consider.

Desired Income

The money you want to make is vital in deciding whether to work with an agency or start a freelance virtual assistant business. Agency positions offer a steady paycheck and benefits, which can provide financial stability. On the other hand, freelancing can lead to a potentially higher income yield as you set your rates and take on multiple clients; however, it comes with income variability and the requirement for effective client management.

Work-Life Balance

Think about how much control you want over your work schedule. Agencies usually provide structured hours, which can lead to a clear separation between your work and personal life. On the other hand, freelancing offers more flexibility, allowing you to set your hours. This can be ideal if you balance other commitments, but it requires strong time management skills to avoid overworking.

I tell others interested in this path to treat it as they would a traditional employee role for the most part so they can stay productive and maintain a steady source of income. Too often, those interested in working from home think it means they can sit around in their pajamas all day, watching television, chatting with friends, and having a good time while still working on their tasks. This is not the case.

I won't lie to you; I tend to stay in my comfortable clothes most of the time because I don't see the need to get dressed in full business attire to sit at my desk, on the bed, or on the couch. Plus, I think it's one of the best perks of working from home. There's no office to go to, which means no dress code to follow, so why not be comfortable? Lol.

Risk Tolerance

Risk tolerance is another important factor. Working for an agency means less risk because you have a guaranteed income and support system. While it is potentially and often more lucrative, freelancing brings more uncertainty. You must be comfortable with income fluctuation and be responsible for finding and retaining your clients.

Professional Growth Opportunities

Analyze the potential for professional development for each path. Agencies often provide training, mentorship, and opportunities for career advancement within the organization. In comparison, freelancing provides the ability to diversify your skill set across various projects and industries and to build your brand. This path requires self-motivation and continuous learning.

By considering these factors carefully, you can better decide which path - agency or freelance best aligns with your circumstances and goals. Think about your financial goals, desired work-life balance, risk tolerance, and the type of professional growth you desire. This will guide you in choosing the path that supports your long-term success as a virtual assistant.