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How Much Money My Virtual Assistant Company Generates – And The Reasons Why I Am Telling You This Now (2010)

Michelle Dale - Friday, January 07, 2011
I am back! First I just want to emphasise that we are starting the New Year, and I want to start 2011 in such a way that you fully know the score about me and my business, SO this is a very personal post, and not something I intend to repeat, it makes me feel very uncomfortable actually, but I feel after recent online events, the time is right to reveal something to you all.

I have just returned from a break over Christmas and New Year, to see that the virtual world is still turning. One of the first places I visited was Yaro Starak’s blog where I found an interesting post about credibility and trust online - it was relating to a video Tyrone Shum had posted on his blog called “I am sorry I lied”, it was a confession saying that he had been misleading his readers, giving the impression he was earning a six figure income online, when in-fact he was not. To be honest, this came as no great surprise as it’s really tough – especially early on, to earn 6 figures, purely online.

Regardless of Tyrone’s mistakes, I do believe he offers great advice on outsourcing and working with virtual assistants, primarily in the Philippines, and this is why I like him, and I feel strangely comforted by his attack of conscience (if that’s what it is), and the fact that there are still people in this world willing to be honest about this kind of stuff.

So after this I thought to myself that really I can say whatever I like about how much my company earns online, but if I am attempting to gather a following of people who trust me (and let’s face it, I am), Yaro Starak clearly advises in his recent video, that we need to really show some sort of proof, and since I would like to help anyone looking to become location independent, or pursue a virtual assistant business, I have decided to step-up to the plate and provide proof of my own, for several reasons:

  • I want you to know that the advice I am giving you is sound.
  • I don’t want you to question my authenticity as a successful online business owner.
  • I would like all of those who learn from me to know that I am providing information based on solid personal experience.
  • I am someone by nature who is honest, down-to-earth, and seriously wants to protect my readers from false or misguided information.
  • In short, I care about you.
So whilst I am not prepared to post my bank statements or PayPal statements online, I have printed off what I invoiced just from clients in my virtual assistant business from 1 Nov 2010 to 1 Dec 2010 from my Freshbooks account where I send my invoices from. I want to retain the confidentiality of my clients and have removed the company names and invoice numbers from the print out, and left the figures for you to see.

This is not necessarily an average month, just the most recent full business month for my virtual assistant business, as with the Christmas Holidays, and my being away from the business for over 2 weeks, December was certainly less, but I want you to keep in mind these few points:

  • None of the clients I invoice are living in the same country as myself. I move so often that I am considered a gypsy 
  • Invoices are generated and sent out throughout the month randomly depending on individual client requirements. I have left the dates on there for you to see.
  • This is obviously gross invoicing and like any other business, there are overheads and expenses.
  • I have a volume of purchases for products and services made from my website shopping cart directly online which are not shown in this invoice statement.
  • I have other channels of revenue online, which are off the back of my Virtual Assistant company, and basically, I would not have been able to pursue other business opportunities online had I not established my virtual assistant business.
  • I have never met any of my clients apart from one in 2007, this was still in the early days of my business, and the client happened to be where I was at the time. That client is still on the books to this day.
  • This is all entirely 100% real.
For the purposes of this exercise I want to keep it simple and just show the invoices generated for that period.

So here are the results:

Global exchange into USD – for 31 days, I generated into my VA company VMF Ltd – from my invoicing alone, was $18, 918.62

As an International VA, I like to always offer clients the option of paying in Euro, US Dollars and British Pounds, and because of this and the exchange rate, the amounts and currencies can sometimes vary from month to month. November to December I had a large request for invoices in GBP and some in USD and none in Euro. However, the actual currencies selected by clients can vary greatly from month to month.

My final figures as you can see below were:

  • €0.00
  • £11.232,50 (1 GBP = 1.54751 USD)
  • $1, 536.22
This is from 1st November 2010 to 1st December 2010 – made up of deposits and balances for projects, retainer hours and pay-as-you-go services.

Some sceptics say there is no money to be made in being a Virtual Assistant, that it’s just for work-at-home-mums to relieve the boredom or people in third world countries to provide low cost services to bloggers and Internet marketers – I am proof this is not entirely accurate information my friends… If you are willing to provide an excellent service, you put in the hours and you run your business professionally, focusing on quality, running your company with confidence and integrity, you can create an great living for yourself.

Many online entrepreneurs will exaggerate and bend the truth, of course we all want to be seen as an authority in our field, but proving it is another matter. I am not big headed in any way, and while this post does make me very feel uncomfortable, I have not done it for any other reason that to say I am the real deal, and I am earning the 6 figures I claim to earn entirely online. All of my client generation is online, I only use the Internet to work, I am location independent and I am willing and able to help anybody out there to develop a six figure income from the Internet, literally from anywhere in the world.

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Hi I'm Michelle, an entrepreneur specialising in virtual assistance, a digital and real world nomad, and a down-to-earth mother of three.

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