Earning $100k as a Virtual Assistant: My Success Story

A virtual assistant shares her journey to earning over $100,000 annually and offers tips on how to succeed in the field.

Business

Earning $100k as a Virtual Assistant: My Success Story

By Jack Simpson

May 25, 2024

132

The internet has revolutionized the working culture, creating countless opportunities for remote work. One such opportunity is that of a virtual assistant (VA), which can be quite lucrative if done right. Kim Studdard is a successful example; she earns six figures as a VA while maintaining her family life and caring for her daughter. 

 

Studdard’s journey to becoming a VA was not planned but rather necessitated by circumstances. She had recently given birth and was laid off from her job where she worked 60+ hours weekly, leaving her in need of employment that offered flexibility around childcare. 

 

She reached out to individuals she admired who were in positions where they could use her skills, securing three clients despite having an unrefined pitch. Initially driven by necessity rather than passion, Studdard soon grew fond of the work, especially as it became more aligned with tasks and projects that resonated with her. 

 

As someone organized and adept at research and creating spreadsheets, Studdard pitched herself to bloggers, websites owners, and entrepreneurs using these skills. While acknowledging that there weren't many resources available on how to become or thrive as a VA when she started out, today's aspiring VAs have access to numerous courses online. 

 

To succeed in this field now requires figuring out your strengths then narrowing down what valuable service you can offer potential clients based on those abilities. As part of building up her skillset over time, Studdard learned Pinterest marketing among other things from clients willing to teach their processes for extra help. 

 

Working four days per week between 9 am – 3 pm allows Studdard quality family time every Friday. Despite juggling four-five full-time clients each week plus occasional one-off special projects every few months doesn’t mean constant intense workload but consistency instead. 

 

In 2019 Studdard earned six figures gross income marking significant growth since starting without setting any initial income goal apart from replacing her full-time job's earnings. However, Studdard advises self-employed individuals to understand that earning $100k doesn’t equate to taking home the entire amount. After deducting taxes and business expenses, she netted around $65k. 

 

Studdard’s client base now consists mainly of previous clients or referrals from former/current clients; hence she hasn't had to send out pitches in four years. The freedom to select her own clients, set her rates, and pick her schedule are among the things she loves most about being a VA. 

 

For anyone considering becoming a VA, Studdard offers three tips: 

 

1) Specialize: Although initially offering various services as per learning new skills over time, specializing has helped Studdard charge more for expertise in specific areas such as operations consulting and management.  

2) Increase Prices Annually: Starting at an hourly rate of $15 eventually increased with proficiency in skillset up to package prices ranging between $1k-$2.5k.  

3) Invest Time & Money: Understanding your service niche thoroughly is essential especially if it's one like social media which rapidly evolves. This may require going back to school or investing in certifications but ultimately leads you into charging more due to having an extensive portfolio of satisfied customers plus knowledge others lack. 

 

In conclusion, becoming a successful VA requires strategic planning including knowing what unique value you can offer potential clients based on your strengths/skills then continuously improving them through learning and specialization while adjusting pricing accordingly for growth over time.




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