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  • Kelly

3 Steps to Cut Expenses in Your Virtual Assistance Business


Today I want to talk about cutting expenses in your Virtual Assistance business.


Why? Because in the big scheme of things, running your own Virtual Assistance shouldn’t be that expensive…


But if you’re like me, you might find that the little $5 and $10 subscriptions we sign up for in order to run our business and support our clients can really start to add up and pretty soon it can feel like we have lots of money going out and not so much coming in.


I know I can relate!


In 2017, I realized that my monthly expenses for my Virtual Assistance business were starting to really add up each month. So what I decided to do was get crystal clear on exactly what I was spending my money on in my business each month.


The results?


Pretty astonishing. I was actually shocked at the amount of services I was paying for each month that I wasn't actually using. {Umm, eFax anyone? I haven't sent a fax in yearrrrrsssss.)


I ended up cutting things out and saved myself $153 each month. #whoa


So today I’m sharing a simple exercise that I share inside of The Profitable VA workbook you can do monthly or quarterly in your business to make sure that you are cutting unnecessary expenses!

Let's dive in... #YAY!


3 Steps to Cut Expenses in Your Virtual Assistance Business


STEP 1: LIST OUT YOUR BUSINESS EXPENSES


Pull up your business banking account and Paypal account. You will want to comb back through your statements/accounts for the past month and list out EVERY single business expense you have paid for that is recurring monthly or yearly. List those out including the amount you pay for the expense each month.


STEP 2: DECIDE WHICH BUSINESS EXPENSES TO KEEP AND WHICH TO CANCEL


Next, take another piece of paper and make two columns on it: KEEP and CANCEL. Go through your expenses you listed out in Step 1 and decide which expenses you will keep, and which you will cut. If you haven’t used the service in the past month and have no plans to use it in the coming month, I would put it on the cancel list. You can always sign up for it again in the future if you really need it.


STEP 3: CANCEL THE ITEMS ABOVE!


Now that you know what business expenses you want to cancel because you don't ever use them, set time aside on your calendar this week {don't put it off!} to cancel the above items so that you aren't charged again for another month of services you aren't actually using.


And that’s it… A simple 3 step process to save more money in your Virtual Assistance business!


Chime in with a comment below if you plan to give this a try this month… I’d love to know how much you end up saving each month as a result!


Xx

Kelly


PS: Want access to The Profitable VA Workbook to see what else I’m sharing about being profitable in your VA business? You can download a copy inside The Empowered VA Hub… it’s FREE to sign up here!