Episode 95: Will Becoming a Virtual Assistant Provide Stable Income? 3 Truths for Teachers Who Want to Quit Teaching

Full Episode Transcription:

(00:07):
Hey sister, friends! Welcome back to the Ditch the Classroom podcast. I hear so, so often from the teachers in our community who are looking to quit teaching and start working from home as a virtual assistant, that y’all are worried about having a stable income that is consistent month-to-month. So if you’re questioning, is it really possible to obtain a stable income from your virtual assistant business? My answer for you is: YES. I would actually consider – becoming a virtual assistant – that income source being even more stable than teaching. Because as a teacher, you can be let go from your position pretty easily. Like if admin wanted to, they could pretty much let you go tomorrow and then you’d be 100% out of your income.

(02:16):
But as a virtual assistant, you typically need four to five clients in order to replace your teaching income. And so if you lose one, you’re only losing a small percentage and you still have the income coming from your other clients to support you while you look for the one to replace the client that you lost. So it’s actually more stable because it’s very, very unlikely that you would lose all of your clients at once. I am going to share with y’all three tips that I have for you for creating a stable income in your virtual assistant business.

(02:53):
So number one is to pick a retainer service, or in other words, an ongoing service. So something that your clients need month to month. So that would be for example, social media management, podcast editing, Pinterest management, administrative services, email marketing. There’s more, but that’s just to name a few. That’s something that your client is going to need ongoing. So they’re going to keep you working for them each and every month for a long period of time. I know many people who have had the same clients for years. And so if you find that client you really connect with, they need that service ongoing, you’ve got that stable income from them for a long time.

(03:42):
Now, if this is a big concern of yours to have the stable income, this is tip number two and it’s, it’s kind of tied into tip number one. I don’t recommend picking a one-off service as the main service that you offer. So that would be things like website design or logo design. Typically your client’s not gonna need a new website every month. And so once you do a website design for a client, you would then have to go find another client and then another and another. And that’s a little bit less stable because you’re not really sure when you’re gonna get the next one. Now, if you love website design, that’s great. Still offer it as a service, but pick another service to offer as well. That is one of those retainer or ongoing services that way you do have that consistent income. And then you can boost it with the one off projects like website design, logo design, et cetera.

(04:38):
Tip number three is to make sure that you have a 30 day cancellation clause in your contract for your clients. That way, if they do decide to end services with you have that 30 day wiggle room to know, “I’m not gonna have this client anymore. I need to be actively pursuing, looking for a replacement.” So those are my three tips. Let me recap them for you. Number one, pick a retainer service or an ongoing service. Something that your clients need month to month. Number two is again, don’t pick a one-off service as your main service that you offer. And then tip number three is to make sure you have a 30 day cancellation clause in your contract. All right. Y’all I hope this was helpful for you. If you need any help with this, your number-one, all-in-one stop-shop – how do you say that? One-stop-shop. There we go. One-stop-shop is the Teacher Turned Freelancer Academy. I help you with figuring out what services you wanna offer, how to package those into a really clean portfolio for your clients. I give you that portfolio template. So it’s just plug-and-play. I give you the contract template again, plug-and-play your information, it will take you 10 minutes to throw together. And it just gives you all of the tools and accountability you need to really take your virtual assistant business and run with it and replace your income ASAP. So if you wanna check that out, which I know you do, go to teacherturnedfreelancer.com and you can see everything that’s included there. And yeah, I can’t wait to celebrate with y’all when you join us. All right, ladies, we will see you next episode.