Virtual Moxie - The Cure For The Common Virtual Assistance Practice

We ain't seen nothin' yet!

A VA pal of mine drew my attention to a blog post that’s now about eighteen months old. But she was concerned about what it seemed to portend for the Virtual Assistance industry, and asked if I would write something about it for Moxie, in case others would find it interesting.

So, I read the post, which, in brief, said that VAs need to reinvent themselves because their client pool is drying up. Greg Balanko-Dickson (the poster) believed that to be so because:

1. Boomers are now retiring at record rates
2. Gen X and Gen Y don’t need VAs.

I don’t know if you’ve been thinking about reinventing yourself, but if you have, I’d suggest that you do it because you’ve found passion within yourself that takes you in a different direction. I wouldn’t worry about what this guy talks about, any more than I would worry about the folks “out there” who want to tell you that you have to do internet marketing and shopping cart work for clients in order to be successful in this business. Blege.

In reality, Boomers are getting older. Time marches on, and people age. And it is currently the largest demographic in the world, so more people than ever are older. Something important to note, though, is that while Boomers are retiring, they’re not retiring like their parents did—most of them can’t afford to. And those who are retiring from current careers, often aren’t ready to stop working…because of their own passions, and because healthcare is allowing them to live longer, far more productive lives. And some percentage of them are starting their own businesses later in life. Lastly, those of us at the end of the Boomer generation (myself included) are only in our mid-40s….we have oodles of time to go before we’re ready to change our working status—and who knows what that will look like by the time we’ve reached “retirement” age. As work and play collide more readily, maybe some of us will actually want to work our whole lives long!

As for the Gen X and Gen Y folks--yes; it’s true that they have far more advanced technical savvy, but it’s also true that they get that anything they don’t have to do frees them up to do other things (which is why they embrace tech so easily and quickly to begin with!). They, even more than the boomers before them, get us.

So here's my bottom line thought, and today's Bit O’Moxie: Keep on keeping on. As an industry, we ain’t seen nothin’ yet!

Who's in the hot seat? Probably YOU.

Last week, I said I'd write about why working in VA teams and subcontracting are generally bad ideas.

Let’s first try to agree on why someone would either sub contract or work in a multi-VA team. People say that working in these models allows them leverage—to do more work, and/or to better serve clients. And all of that is true…and you know that I absolutely can get behind VAs leveraging themselves and better serving clients!

What I can’t get behind is their doing it in teams, or via subcontracting, because most of them will be putting themselves in the middle of a liability nightmare they’re likely not even aware of.

The issue at hand is indemnification—who gets the legal finger pointed at her when something goes wrong.

If you’ve procured the client for either of the situations mentioned above, chances are it’s you, whether or not you created whatever problem has caused a legal finger to be pointed. The reason for that is that the client has the agreement with YOU.

As an example: You have an agreement to do work for a client. Some part of it is something you don’t know how to do, or don’t want to do. So you sub out/team out that stuff. The sub/team member screws things up royally, causing a problem for the client. The client loses money, or looks bad to peers, or has some other problem, and royally pissed off, sues…YOU.

Now, you can then sue the sub or team member, but what’s the point of all that? Even if you made a few bucks on the deal, I promise it’s not going to feel like enough if you end up in the hot seat.

It’s true that you could have an attorney draw up a hefty legal agreement meant to protect you from such an eventuality. But I feel quite certain most VAs don’t spend the money to have this done, and most clients wouldn’t sign it if they were presented with it. And in truth, even an agreement like that wouldn't stop someone from suing you (because as a practical matter, anyone can sue anyone for just about anything), although it might get you out of the hot seat once you get to court.

Bit O’Moxie: These models are fraught with very real legal danger. Unnecessary legal danger, in fact, when the key to getting to exactly the same place (leveraging yourself and/or getting stuff done you can’t/don’t do) is so easily at hand (read more here, and here), and doesn’t carry the same peril. I suggest you stay away from these models, and, instead, build the resources that you can share with clients, allowing them to choose their own vendors, pay them directly, and have you manage the process. It's simply cleaner, all the way around.

If you know something about this that I (and the various attorneys and E&O insurance agents I’ve discussed this with over the years) am missing, please share what you know. I really am entirely behind anything VAs can do to strengthen their practices, but I just don’t see this as something that strengthens, when there’s so much potential to destroy what you've built.

Building your Rolodex to cover your service gaps--plus a great 2-for!

Last week I wrote about how the most valuable VA is a one-stop shop for her clients, either doing whatever needs to be done, or getting it handled.

Covering your service gaps (the gaps between what you can do and what the clients need) is a key element to strengthening your practice, and making yourself indispensible to clients.

But how do you cover your service gaps? What are the best ways to handle that?

In my view, the best way(s) limits, or eliminates your liability in case of a problem. As such, anything you accept responsibility for, but cannot control makes it, in my view, far too great a risk. That’s one reason why I think subcontracting and working in loosely defined multi-VA teams are lousy ideas (I’ll write more about that next week).

What I suggest is having a Rolodex full of great professional vendors. Any service gap of yours requires at least one vendor to cover it—and it’s probably smart to have more than one (in case the one is busy, can’t handle the scope of work, etc.). Then, when a client has a need that falls into one of your gaps, you say something like, “Mark, I don’t do _____, but I have access to a few professionals who do. Let me talk with them and see who’s available to help us, and when I know, I’ll set up times for you and me to talk with them. You can decide who you want, and I’ll help manage the project.”

Mark’s a smart man. He knows you can’t do it all. And he’s super glad you know who to go to get it handled. So you set up some calls, both go to the calls, and when Mark makes the decision (you really want him to make the decision), you get the vendor to bill Mark directly for his services.

Then you can watch over/manage the project to completion. Mark’s happy. The vendor is happy. You’re happy. And you weren’t inappropriately in the middle of the deal.

So how do you find great vendors? You ask people for referrals. You’re not an island, and you must belong to networks of other business owners (these referrals don’t have to come from other VAs!). So ask them who they recommend, then do due diligence, and investigate the vendors, interview the vendors. And only when you’re satisfied that a vendor is someone you’d feel good about referring to, and the vendor clearly has a proven track record of success, add that person to your Rolodex in the appropriate category.

Bit O’Moxie: Here’s the best part—the icing on the otherwise already yummy cake. When you contact a vendor, tell him what you’re doing and why. Tell him about what you do, and if/when you decide to add a vendor to your referral list, be sure to let the vendor know of your decision. That vendor will remember you, and there’s a good possibility that he’ll refer to you, too, if given the chance. In this way, your building your Rolodex also becomes a marketing method. Ahhhh… I love efficiency!

In case it hasn't crossed your mind, here's why efficiency in marketing matters. Every second you spend marketing is time you can't be doing billable work, or better, enjoying your life. So efficient, effective marketing ideas are always good to find!

More on what a VA does: On service gaps

When I started this whole VA industry thing, I talked about how working with a VA would free a client to do what he loves and does best.

Somewhere, over the years, people on the VA side of the VA/client relationship have decided that goes for them, too.

And to a degree, I agree. It’s great to do what you love to do and do best. BUT…chances are that if you only do that, you’re no longer doing administrative work across the board (being a VA), and are, in fact, specializing. And if you specialize? Yeah…you’ve become the specialty (bookkeeper, web designer, internet marketer, etc.)

Bit O’Moxie: Absolutely do what you love and do best. But also do everything for your clients that you can do easily and well. Everything else…say no to. There’s no point in doing what you hate doing and/or don’t do easily and well.

But those places where you don’t do things….those are service gaps (gaps between what you do and what they clients need). And there, you need to fill the gaps with the talents of others.

I’ve said it a million times: The most valuable VA is a one-stop shop for her clients.

That means that your clients should be able to come to you with anything they need. ANYTHING. Whether it’s the need for SEO work, or to broker a yacht from Hong Kong to NYC, or to get bookkeeping done, or deal with a dead pet in a hotel room when the client has to rush out the door to get to work…it doesn’t matter what it is, your clients should be able to come to you for it, and feel certain that you can either do it, or get it handled.

Doing it or getting it handled--that should be your mantra.

And of course, since you can’t do it all, you have a vast Rolodex of resources you use to get it all done, right?

Right. :)

Next week I’ll talk about how to build those resources, just in case you’re wondering.