Profit Growth Strategy #1 for Virtual Assistants

We had such a great “Ask Denise Griffitts Your Virtual Assistance Industry Questions” teleseminar on Tuesday that it inspired us to share 13 Virtual Assistant profit growth strategies, one each day, as we count down to the Virtual Assistance University launch on September 15.

Today’s profit growth strategy tip is offered by Tony Bodoh.

Tony Bodoh is an expert in field of customer value creation, organizational alignment and cultural transformation. His work has been profiled in a variety of publications including: CIO Magazine, 1 to 1 Media, Intelligent Enterprise, Hotel Business, and the Knoxville Business Journal.

Profit Growth Strategy #1 for Virtual Assistants

Pick Your Niche

Picking your niche is a guaranteed way to improve your profitability. There are several reasons for this. Here are three of the top reasons:

1. You will become an expert at your clients’ businesses—the business models, the needs, all possible profit streams and the best suppliers for the industry. This is highly valuable information to your clients. You will be rewarded for sharing it with them.
2. You will become more proficient at the work required in this industry and therefore reduce the learning curve. Any reduction in hours will be offset by more premium rates and additional clients.
3. You will receive more recommendations. Assuming you are great at what you do, the word will spread like wildfire. You can work for companies in the same industry but in different locations so you don’t have non-compete or non-disclosure concerns. In addition, you can find the best suppliers of your clients and work for them.

Your reputation is everything. The more you specialize in your niche by learning about the needs and the desired value potential clients in the industry are seeking, the better you can serve them and charge a premium price.

If you are interested at all in building and growing a recession-proof Virtual Assistant practice, I urge you to join our mailing list now.

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