I think one of the reasons why starting a virtual assistant business is so appealing for many people is that the startup costs are minimal.
Most of us already own or can easily afford the necessary equipment:
- a computer and necessary software
- an Internet connection
- a fax machine
- a phone
- an in-home office space
But the one thing many new virtual assistants forget is that their new business won't bring money in right away. It may be one to two years - or even longer - before their new business will bring in a regular income.
This is often one of the overlooked costs of starting a home business. What will you live on, pay bills with, buy food with until then?
Before you start any business, be sure you have at least 3 months income in reserve. At LEAST! The more you have the better.
Because when start running out of your reserves, you'll start feeling desperate for business. And no one wants to do business with a desperate business owner.
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