Writing a Virtual Assistant Business Plan

Writing a Business Plan for a Small Business

A very important step as you set up your Virtual Assistant Practice is writing a business plan. The idea can be intimidating, yes, but there are so many resources out there to take advantage of. Not just guidance, but templates too.

Why write a business plan for a home business?

This step is so important for building the framework and vision as you start your virtual assistant practice! Business plans are known as a tool to secure funding, but if you’re starting your work-from-home assistant business very frugally (as I did) and are not looking for external funding, the business plan still accomplishes many things. Number one is actually my favorite. I know that sounds silly when talking about a business plan, but yes, I do have a favorite! So here it is. By putting your plan on paper, you are taking ownership of your ideas and giving them life. This is a huge step towards the reality of owning your own virtual assistant home business. WHY? Because your plan helps you to organize your ideas, outline your vision and goals, identify your target market, determine your start-up costs, and develop a marketing plan.

How to write a small business plan

The list I just covered that answers why you should write a business plan is a lot, I get it. BUT as I often say, don’t re-create the wheel. Save yourself time by using what’s already out there to help you with this task…and there are plenty of great FREE resources too. I will list some great references at the end of this post.

What to include in a virtual support assistant business plan? You will find a lot of overlap in the parts needed for a business plan when you do some research. This is what I included in my business plan.

1. Executive Summary or Company Overview 2. Mission Statement and/or Goals 3. Services 4. Marketing Strategy 5. Financials

Just remember, your business plan is a living document. It can adjust as needed. You are not tied to how you write your first version. However, I’m not saying to rush through it because it doesn’t mean anything. Definitely NOT. You should be as thorough as you can be because the more thought you put into your plan from the start, the more it will help the subsequent steps fall into before you officially “opening your doors”. My advice? Revisit, update and revise your business plan regularly. In the beginning you may want to review the contents quarterly, but once you have momentum and your business is moving in the right direction, a yearly review is sufficient.

Business Plan Writing Resources

1. SBA.gov has a good step-by-step guide for writing a business plan. They go into a lot of detail and even provide samples. 2. The Work at Home Woman has a lot of good resources, including straight-forward descriptions for the sections of a business plan. 3. This site offers a free business plan template that you can download.

Tips for writing your Virtual Assistant Business Plan

Final thoughts? Try to think of writing your business plan as exciting. If you get stuck on one section, move on. As a living document, you need a strong framework to start, but changes can always be made. When your business plan is done, reward yourself! Enjoy the sense of accomplishment. You are one step closer to accepting clients!

Katie Bauer started Effective Virtual Assistance, LLC, in 2008. Based out of Northern Virginia, Effective Virtual Assistance, LLC partners with small businesses locally and nationally to give business owners the time they need to focus on core business and revenue generating activities.

With a firm belief that when a client is successful, that reflects on her success, Katie’s goal is to go above and beyond with each and every client task and project.

Over the years Katie has been contacted by aspiring VAs through clients or directly via her website, asking for insight and advice. She realized writing a short eBook to share her experience along with offering some of the documents and tools she uses to run her business could benefit other Virtual Assistants. Click HERE! You definitely want to see all the professional resources & customizable forms available.