20 Things Learned: Not a Hobby

Lesson 1: Being a VA is not a hobby or a side hustle. It’s a business – with all that entails!

The first thing I’ve learned in this business – being a VA is NOT a hobby or a ‘side hustle’. It’s not a way to make easy money. It’s a business – with all that that entails!

It’s not a way to make a bit of extra cash on the side while you still have a part-time or casual job. You can – and should – try and keep some part-time or casual employment at least while you are in the stages of building your practice, but becoming a VA means eventually leaving employment and being your own boss.

It is a business. With all that entails.

You need to view it that way, have a business owner mindset, and be able to market yourself and your services. You will need to understand what is required of business owners in your country and state, any licences you need, tax implications for your individual circumstances, any rules you need to comply with, insurances and so on. You need to think about the sort of structure you will have for your business. Be sure to find a good small business tax accountant who can help guide you.

If you don’t want the responsibility of business ownership but want to work from home, consider subcontracting instead.

©Lyn Prowse-Bishop – www.execstress.com

Want to hear these tips? You might like this episode at the Virtual Business Show podcast!