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Comprehensive VA Industry Study

A 270 page in-depth analysis of the virtual assistance industry as detailed by hundreds of practicing virtual assistant survey participants.

2007 OIVAC Downloads and Announcements

Order informative recorded presentations, edited MP3 files and downloadable give-a-ways from the 2007 OIVAC Online Convention as well as the 2006 Convention.

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The Business Growth Mastermind Program offers confidential sessions among VA group members to brainstorm and discuss issues relating to the growth and development of member businesses.

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The VA Mentor Program allows members to reap the benefits of having a one-on-one relationship with a VA Mentor willing to share their experience and expertise to help you grow your business.

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The only international convention designed for virtual assistants.

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The Everyday Guide to Writing Wisely

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Writing Wisely

 

Statistics PDF Print E-mail

Overcoming the Reluctant Prospect

By Sharon Williams, MVA, Chairperson, Alliance for Virtual Businesses

Focus

We asked Virtual Assistants to share how they overcome objections of a reluctant potential client and to provide examples of information they share with their clients. Below are some of the questions and responses. This information can be used as a resource to assist a VA when formulating a strategy to approach a prospect.

Survey Questions

1. How do you show prospects the value of using a VA?

A. Provide relevant news articles about the VA industry or my business.

B. Create a cost comparision analysis of VAs' services versus employing a full time staffer.

C. During the initial interview offer time-saving ideas, a portfolio of previous work and/or a company pesentation folder.

2. How many of you use the following as part of a presentation to a prospect? Select all that apply.

Portfolio of Previous Work
89.5%
Presentation Folder (Company Info)
89.5%
VA-industry Articles
84.2%
Time Saving Ideas
84.2%
Cost Analysis
81.6%
Market Statistics
73.7%
Other (Describe)
63.2%
  1. Quote from clients or industry types
  2. Client Assessment and Questionnaire
  3. Samples of work
  4. Testimonials, list of skills, ethics/mission statement
  5. Power Point "Introduction" by email
  6. Website and brochure
  7. On-site demonstrations for free
  8. Newsletter of the Latest Information which includes VA Information Brochure
  9. Virtual assistant profile which is a cross between a bio and resume
  10. References, if requested

3. How many of you use the following as part of a presentation to a prospect? Select all that apply.

A. VAs eliminate backlogs.

B. Client would reduce overhead by using VAs only when needed.

C. VAs offer a wide range of expertise in their niche skills and are versatile professionals.

D. Virtual Assistants can handle overflow work, and stand in for volunteers or when full-time staff is absent.

E. VAs can enhance an entrepreneur's professional image.

F. Clients are given more time to concentrate on expanding their business through marketing, developing better customer relation strategies, ability to reach more clients or reconnect with old.

G. VAs provide access to technology created to reduce workloads.

H. As the business grows, elminates need for more office space, equipment, providing benefits, hiring another in-house employee, etc.

4. What are some other selling points used in your presentation to prospective clients?

  1. VAs can catch up the backlog secretaries or assistants can't get to
    (or don't want to do because that's not their natural skill).
  2. We are able to meet client deadlines even if someone is ill.
  3. Highlight reduced costs, reduced expenses and experience of our staff.
  4. Support. Saves time so they can focus on their client 100%.
  5. Make a business look better. Through our marketing techniques,
    a business grows. Experience increased profits because we have experience
    marketing others in the same profession.
  6. We are experienced, extremely accurate, and you can utilize our services
    on an "as needed" basis. We reduce overhead. You don't have to pay someone to be sitting there if there is no work to be done.
  7. You can pay us a retainer or as needed basis.
  8. Often volunteers drop the ball on a project since their work takes priority.
    An Association Manager runs the business of the association.
  9. Appeal to their professional image.
  10. Company should have written materials free from spelling, grammar and punctuation errors. In addition, We add "pizzaz" to their materials.
  11. Availability and accessibility - able to conduct third party exit interviewing
    during evening hours.
  12. Paying only for time on task, not paying for holidays, sick or vacation days,
    coffee breaks, payroll taxes, health and retirement benefits as well as equipment maintenance and software upgrades - overhead in other words.
  13. Advantage of using the technology that is currently available and how it saves on overhead, saves them time of having the drive to meet with people and having someone local.

5. How will the prospect be able to measure the progress and value of your work as it relates to his/her business?

A. Present a cost analysis worksheet based on time and costs saved. For example, the cost of an employee versus a VA's hourly rate.

B. Provide time and progress reports, evaluation tools and checklists.

C. Create a CLIENT ACCESS webpage where they can log on and see the progress of projects and can evaluate the value of timely progress and production.

D. The quality of the work will show immediately. It will look extremely professional and accurate. The client will feel less stressed as VAs free them to do their business, knowing that a qualified person is handling all the administrative tasks.

E. Offer a guarantee.

F. Conduct periodic check-in meetings with the client to ensure quality and needs are being met.

G. Offer an explanation and better understanding of the technologies VAs use on a daily basis that save clients time and money.

6. Do you explain what happens to your client's time-critical work if something happens to you (i.e. accident, illness, etc.)?

Yes - 41% of respondents say they subcontract to other VAs.
No - 59% said they work even when they are sick and the client isn't informed.

7. Do you outsource to other VAs?

53.8% said yes
43.6% said no
2.6% did not respond to this question

8. When asked how often do VAs outsource, respondents replied:

Everyday
2.6%
Weekly
7.7%
Monthly
20.5%
Yearly
5.1%
Never
15.4%

 

9. How often could/should the client be speaking with you by phone regarding work-related tasks?

Everyday
15.8%
1 - 3 times per week
68.4%
4-7 times per week
0%
A few times per month
7.9%
Other
5.3%
Never
2.6%

10. Do you guarantee your work?

81% of VAs provide a guarantee
19% of VAs do not provide a guarantee

11. How long is the guarantee? Of those that were willing to state the length of their guarantee, respondents replied:

1 month
32.4%
1-2 months
24.3%
3-6 months
0%
7-12 months
2.7%
Longer than 1 year
2.7%

The balance did not report having a guarantee policy.

Finally, VAs were asked if they had a question or topic that you would like asked in a future survey. Some of the responses are listed below. These topics demonstrate the wide variety of questions, concerns and the need for relevant information about how to run a VA practice. Several of these topics will be covered in future surveys.

  1. How many VA's actually have 40 billable hours per week? How long
    did it take you to reach that goal, and how many clients?
  2. How do VA's track time on a project. DO all VA's do timesheets? If
    so, how often? How do VA's handle non-paying clients? How do VA's explain
    their retainer system - that is - if all the purchased hours are not used
    within one month - it will go into a bank or roll over to the next month or
    do unused hours expire?
  3. New technology brings new challenges. When something is brand new (either
    a program or system) how do you charge for that if you are either: Proficient in
    using the latest and greatest or, on the other hand, if you are learning as
    you go.
  4. How many VAs are there in the industry? What are the type of industries
    that are utilizing our services and what percentages?
  5. What do you feel is the most important items to have on a form such as
    proposal, time, contract, confidentiality.
  6. With the internet making this REALLY a small world, how does one work
    the various currency figures? So far, I've only dealt with US/Cdn. currencies
    at par. But should other currencies be rated on DAILY basis?? Or take an
    average exchange rate over period of X days/weeks and convert to appropriate
    currency?
  7. I would be interested in some numbers regarding how many VAs work mostly
    through local connections as opposed to working with people they actually
    never meet.
  8. I am always questioning whether the prices I have set for my services
    are reasonable and would like to know how others decided on their pricing and
    why. Also I am curious as to whether you can honestly make a living from being a Virtual Assistant without working with subcontractors in order to obtain more work. I am a one-person operation and in my third year of business. Each year I have slowly been increasing my sales. But I would like to know how others generate a steady income and maintain it.
  9. I'm interested in the topic of professionalism and professional development and
    I'd like to know what other VAs do to keep themselves up to date with skills and technologies.

Results of the January survey, "How to Get Into Virtual Shape" will be posted in the next edition of The Alliance.

Our next survey will discuss "Marketing". If you would like to submit any questions for inclusion in the Marketing Survey, please send them to This email address is being protected from spam bots, you need Javascript enabled to view it