The Virtual Wire

The first of the month

2010-03-09T09:56:16-05:00

If you are a single mom like me (3 kids, ages 17, 15 and 11), you hate the first of the month. You have invoicing to do, credit cards to process for client payments, follow up on ones that don't go through, pray that the credit card payments show up in your bank account in time to pay rent on the 3rd. It is so stressful some months especially if the first lands on a weekend.

So what is an entrepreneur to do? Well one thing that has really helped me is by increasing my marketing funnel to include some free things and some other streams of revenue. I rolled out my Sharon Broughton Academy a few months ago and it is going well. I am starting my second cart class today and I have probably triple the number of students as last time. Now don't get me wrong, I did a lot more marketing this time and I did it differently: 1) I had a preview call "Shopping Cart Unleashed" which was very well attended; 2) I offered a discount but only for a short period of time; and 3) I had a special discount just for AssistU grads. But the fact remains that I had an additional source of revenue this month other than my virtual assistance practice.

This month I have an opening in my VA practice as two clients have graduated. I did a great job building them a team so that they didn't need me anymore (kinda sad about that, but glad for the client). So I am definitely marketing my opening for one 10-15 hour client much differently than the last time I had an opening. I actually don't remember the last time I went looking for a client. I am reading a book by Dan Kennedy and the particular chapter I read last night was talking about the "cost per client" to get a new client. You need to look at the lifetime of the client income. How much money is that one new client worth to your business over the 2-3 year period (or longer) that they are in your life? How much am I willing to invest to get that one client? I have been hesitating signing up for the Assistu Registry (cost around $250). So for the cost of less than one new client for a month--I didn't want to spend the money. How silly is that? So I will be signing up for the registry ASAP. I am also going to work on my target list of businesses that I want to pursue. I love working with online entrepreneurs that are already making six figures and want to take that to seven figures. I only work with motivated people that want to grow their company substantially over the next 12 months. So I need to work on drawing up that list and doing some research on their current VA team, what I can add to the mix, does it make sense to pursue them, where do they hang out, what can I do to wow them? Lots of things to think about.

And the beauty of all this is since I have my cart class this month and the extra income that comes along with it, I can take my time (well not too long) finding that ideal client and sealing the deal. So when the first of April comes around, my new client will be in place and a new class will be rolling out (Product Launch 101 is next!).

How can you diversity and create multiple streams of income in your business? What is your unique ability that you can share with the world? Start creating and get rid of the "first of the month" headaches.

First Friday Pep

2010-03-05T18:41:59-05:00

As always at the beginning of the month I think about what I can share with you that might inspire, motivate and just trigger some thoughts. Then today I had a discussion with a leader in the VA world and was told how difficult this economy is, how accommodating people who encourage extremely low rates is a good idea, and how by doing this and providing rocking services will allow us maximise future opportunites. And all I could think about is that we are missing the point of the Law of Attraction. And being a pupil of this philosophy and seeing some great results over the past 2 years, I remember this quote that I received from TUT this week and just had to share it:

It's pretty much always been the same: First there's the life review, then there's the homecoming parties and happy tears flowing like Niagara Falls, and finally... the sudden and profound realization that throughout their entire life all things were, indeed, possible, and that such a concept wasn't just wishful, part-time, feel-good thinking.

It's quite the "Kodak Moment."

Whoops, here comes another one. Tissues everyone!

Let's recognise right now, that all things are possible and think and feel positive thoughts towards this reality. Yay you!!! Enjoy March!!!

A time for everything

2010-03-04T19:23:45-05:00

It’s that time – time to move on and allow space for another season. I knew it would arrive at some point, and it’s here now. Life and business are overflowing with good things, and I'm thankful!

I’ve enjoyed being part of the blogging team here at The Virtual Wire, and truly delighted to be remembered as one of the original bloggers chosen to help launch it into existence (which, by the way, was shortly after I officially launched my own VA practice).

The discipline of writing each week and collaborating with team members have played an important role in my own business development and personal life – and I’m forever grateful. As well, I’ve especially enjoyed connecting with those who took extra time and effort to send messages and leave comments from time to time. Thank you ever so much!

I believe I’ll be blogging again -- not sure when or where -- but the “what” would focus on encouraging others as best I can. Meanwhile, I’ll leave you with this moving sentiment whose author is Ralph Waldo Emerson:

"To laugh often and much; to win the respect of intelligent people and the affection of children; to earn the appreciation of honest critics and endure the betrayal of false friends; to appreciate beauty, to find the best in others; to leave the world a little better; whether by a healthy child, a garden patch or a redeemed social condition; to know even one life has breathed easier because you have lived. This is the meaning of success."

I wish you all much success!

The 10-10-10 rule

2010-03-02T14:30:11-05:00

I personally love change, but I know some people prefer to keep things the same.

At the moment that change is occurring, it can be rough (especially if it is something you are emotionally tied to). When I come to that point and I resist the change, I take a moment to think about how this change will affect me in 10 hours, 10 days or 10 years (the rule of 10-10-10).

In my life I have had to have some rough conversations (divorce among others) and I focus on the fact that in 10 hours it might be rough, 10 days might still be rough, but in 10 years it will be just a blip in the radar screen of life. Talking to my husband about wanting a divorce was one of the hardest things in my life to do. I had made a commitment and just because it wasn't working for me didn't make it okay to stop trying. But once I realized that I would be doing him a favor by releasing him to be loved by someone else--then it made sense. So looking at the 10-10-10 rule and applying it in that instance made a huge difference to my life (and gave me a calmness about the situation).

So now when it comes to big decisions in my business (and life), I use the 10-10-10 rule. How will this decision affect me in 10 hours, 10 days, 10 years? I know that life is short and while a decision might be temporarily uncomfortable, I usually know that it is best for everyone involved.

How do you make decisions? Do you believe that when one door closes another opens up? Or that in the moment this new change might seem horrible but actually it is opening a new path for something even better? Please be sure to live your life to the fullest--it is the only one we get.

VA/Client partnership trust and the other team members

2010-02-26T05:21:00-05:00

I came across a really great article on Trust recently that is definitely worth a read.

Of course immediately I started thinking about how critical trust is in the VA/Client Partnership. As a VA having a client that trusts me either immediately or fairly quickly dictates how easy our relationship would be. As I thought about this I remembered a couple of posts that Stacy Brice wrote early last year about developing trust in a VA/Client Partnership. Read here and here to learn more.

But what I want to talk about briefly today, is considering trust from a completely different angle. I have come across the issue of trust in a 3^rd party relationship. The other contractors or staff that my clients work with, that in turn means that we have to work as a team. In these relationships, from my experience, the trust that I share with my client is not always understood, translated or acknowledged, and sometimes maybe undermined a little.

The selection process between myself and a client takes several conversations before we decide to work together. Then once the partnership starts, we invest time in talking further, and understanding each other’s work styles, to develop an empowering partnership. My client trusts me to get the job done on time, or negotiate deadlines; my client trusts me to use my initiative and view their business with the love, care and dedication that they apply; my clients trust me to step into their shoes and provide them with an unwavering support that feels like an extension of themselves. When a 3^rd party comes along I often feel a disconnect. It is hard to explain, but it displays itself as tip-toeing around so as not to "rock the boat," or at the other scale aggressively display their superior knowledge. It is an interesting dilemma, and because of my intuition, something I pick up on acutely.

As is my style, I always look at what I can do to make this better, and I have realised that I need to set-up a standard and/or process that I need to adopt when working with new team members so that we can quickly feel like a team, that a level of trust in the support I provide to my client and even them is recognised. Something I think I will develop with my coaching group next week!

Any thoughts or experiences that you want to share?