The Virtual Assistant’s Guide to 6-Figure Earnings in 2023
As a Virtual Assistant Coach, I’ve noticed something pretty interesting among my students since 2016.
More and more of them are setting their sights on making six figures, which means earning at least $100,000 a year.
And I totally get why.
When you’re bringing in that kind of money, you feel financially stable and successful.
It opens up a lot of opportunities and possibilities that you might not have had otherwise.
But it’s not just about the luxuries and perks that come with a six-figure income. A lot of my students want to make that kind of money because they want to be financially independent and free. They want to retire early, travel the world, or do whatever it is that makes them truly happy.
And that’s what it’s all about, right? Living your best life.
But let’s not forget that a six-figure income also allows you to take care of the people you love.
You can afford a nicer home, send your kids to private school, and save for the future.
It’s about providing for yourself and your loved ones.
And of course, let’s not underestimate the sense of personal and professional achievement that comes with making six figures.
Whether you’re climbing the corporate ladder, starting your own business, or becoming a leader in your field, reaching this level of income is a big accomplishment. And something to be proud of.
It’s completely understandable for any Virtual Assistant to strive for a six-figure income.
It’s a fantastic financial goal to work towards!
But you might be thinking, “That’s great, but how do I actually achieve it?”
Well, don’t worry, I’ve got you covered.
There are several ways to make six figures as a virtual assistant and I’m excited to share them with you.
1. Choose a profitable niche.
If you focus on one area of expertise, like funnel building, CRM management, social media management or email marketing, you can become known as an expert in that field.
Clients are willing to pay more for specialized skills, so you can charge more for your services.
2. Increase the number of clients
It is easier to make six figures if you have a lot of clients.
When you have more clients, you can take on more work (at that stage you can hire your own virtual assistant to help you out!), which can help you maximize your revenue.
Having more clients leads to repeated business and word-of-mouth advertising, which can help you grow the numbers even more.
3. Extending your service line
You can make more money by offering add-onservices, like designing e-books, presentations, making 1 page websites or keeping books.
These services can bring in new customers who are looking for a one-stop shop for all their business needs, and retain your existing customers.
4. Create a circle of collaborators
By putting together a group of other independent virtual assistants, you can take on more work and make more money.
You can refer clients to each other, split work, and do more while earning more together.
Having such a “team” can help you find new opportunities and ways to make money.
Making six figures as a virtual assistant takes time and work, and it’s not a given. But, it is not impossible either.
Let`s look at numbers.
Let’s start by breaking down your 6 figures target income into monthly targets:
Annual income of 100,000 USD equals 8,333 USD monthly income.
If you will be working full time (40 hours a week) 8,333 USD a month will equal a compensation of 52 USD per hour
Your next step is to determine which virtual assistant services are in-demand and valuable enough for your target clients in order to pay you 52 USD an hour.
I`ll be honest: RiseAssist virtual assistant students and graduates usually begin with lower rates, and scale their way up to 50 USD per hour and above.
The reasons usually are: beginner level skills, lack of experience, slow turnover, high error probability etc.
If you are an experienced professional, and you have a portfolio of deliverables to demonstrate, you can definitely charge 52USD (and maybe even above) for the following services (these are just examples, there are more than 50 niches that pay 50USD per hour and more!):
I assume, the follow up question that you’ll have for me now will be: ”Great! Now where do I find these clients?”
If you’ve never generated leads for your services, and you did not develop your own marketing strategy, I would recommend starting with Upwork or similar websites.
Yes, they do take commissions from your earnings, but you get access to potential clients and daily job postings.
It will allow you to start earning, developing your skills, building your portfolio, collecting testimonials, case studies and referrals for your own VA business development.
The beauty of virtual assistants career building is that you don’t really need 100s of clients every month, as you can only serve a limited number of clients.
My advice is to look for long term opportunities, where you’ll have an opportunity to become a valuable team member and work with a company/entrepreneur for years.
If they don’t fill your schedule with work, they can always refer you to their network.
Of course, you need to be truly good at what you do to receive such great bonuses from your clients.