What’s going on in the VA industry in 2022?

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During lockdown, we saw a record number of people wanting to set up their own Virtual Assistant business.

Why? They had time to think. Time to consider their future. Time to put into action a dream that kept being pushed to one side for the demands of everyday life. Even if people were not furloughed during lockdown, they had more flexibility than perhaps they normally would have had, to fit in the set up of a business around their existing job.

There was a little bit of concern generally in the VA industry about ‘any Tom Dick or Harry’ setting up a VA business without the relevant skills, and potentially giving the VA industry a bad name. I agreed with this concern, having spoken to some people who clearly were not cut out to be a VA. I guess there is potential for this to happen in any unregulated industry.

This brought a new burning question, which we were asked in most of the discovery calls we had with people who were thinking of setting up as a VA. The new question even took over from how do I get clients in a VA business, what services can I offer and what do I charge. 

Is the VA market flooded? 

There was concern that with so many people setting up as Virtual Assistants, there wouldn’t be enough clients to go round everyone. Not that I believed this was the case at the time anyway, but rest assured, it transpires that it definitely isn’t an issue. Read on to find out why.

So what happened after lockdown?

I don’t have exact statistics and this article is purely what I have been seeing personally, as a VA mentor and from running a VA company myself.  But it has become pretty obvious that a large percentage of people who intended to set up a Virtual Assistant business in lockdown have either changed their mind now they’re back into the swing of normal life again, or they were just trying it out… dipping their toe in and were never really serious about making a proper living out of it.

And now with the Covid aftermath, where does this leave the VA industry?

Well we are certainly in a place that I’ve never before witnessed in the Virtual Assistant industry in 17 years. We are seeing big change.

In my own Virtual Assistant business, we are having more and more clients ask us to run their side gig business for them, whilst they continue working in a full-time job. So, whether you like it or not (and some people in the VA industry don’t), the fact is that more people are looking to set up side gigs.

The ‘side gig’ clientele is not one we have not seen too much of until recently.  It’s exciting because it is opening up more opportunities for VAs to offer a service to these people. 

And then there are the people who want to set up a Virtual Assistant business as their own side gig.

Who would have thought it… a side gig VA business running a client’s side gig business. But this seems to be the way the world is going.  Is it temporary? Who knows, only time will tell.

So why is a VA side gig business popular at the moment? 

Without wanting to state the obvious, the ability to top up income in the current climate is becoming more and more appealing.  Just as an example, based on an average hourly rate of £27 working just one hour per day Monday to Friday, a VA could earn £585 per month. Not to be sniffed at – especially with those pesky fuel and household bills sneaking up.

And people are reluctant at the moment to jump ship from a ‘secure’ job with a pension into a self-employed role as a Virtual Assistant that is unknown to them. So there are an increasing number of people setting up as a VA alongside their full-time job. Not necessarily as a side gig, but to make sure it works for them before they quit the day job.

What about getting Virtual Assistant clients in the current climate?

Luckily, most people who use a Virtual Assistant have a growth mindset, are highly driven, and are not drawn in by media hype. They are entrepreneurs who are likely to thrive when other businesses fail.  So personally, I haven’t seen any downturn whatsoever in my own Virtual Assistant business. Our existing clients are going strong, and we are receiving new enquiries. 

I’m not saying that all people who use a VA are unaffected by covid and the current situation, but as anyone who has done one of our programmes knows, the typical ‘client avatar’ of a VA have thriving, successful businesses – even now.

These last few years have seen some interesting changes in the VA world. Whether you like them or not, one thing’s for sure, it’s happening regardless and you can’t ignore it. So hop on the bus of change, embrace the opportunities that the side gig phenomenon brings… or get left behind.

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