The recent economic recession is one of the most serious financial blows our world economy has taken in the last several decades. Its influence ranges from finance to real estate to online businesses to small businesses.
While just about everyone’s affected, there are still many businesses that are thriving, especially those who work mainly online such as virtual assistants. How can you make sure you still do well in these tough economic times?
Here are a few tips.
Offer a Cost-Saving Option
When faced with choosing between either a cheaper option or a higher value option, many consumers today would choose to go with the cheaper option. NOTE: I am not talking about choosing between a VA in the U.S. or Canada and those in India and China because they are NOT your competition. People who use those options aren’t looking for a partner, they are looking for someone to do one-time tasks on the cheap, so stop comparing yourself to them or thinking that you are competing with them.
Instead of just selling your normal product line or retainer package, consider creating a “lite” version for customers who still want to partner with a VA but don’t want to spend all the money. Starbucks is selling their coffee in packets instead of just ground beans for a fraction of the price. Cable companies are offering fewer channels. So on and so forth.
How can you offer cost-saving offers for your customers?
Go International
Have you considered shipping internationally or servicing international customers?
Hardest hit in the recent recession are the United States and the European Union. However, many Western countries like Australia, Canada and New Zealand still have very strong economies. In fact, all three countries have higher than USD valuations on their currencies at the time of this writing.
Since your business is online, it can be as simple as changing your targeting, PPC and SEO techniques to target these countries. Just remember, if you ship physical products, you’ll need to explore the various laws and regulations surrounding shipping products internationally.
Consider Outsourcing
Once of the biggest reasons why I don’t have a big team is that because each of my clients is different – some already have teams in place and some are just starting out and don’t need a big team. Some need social media help, while others just need graphic design. This is where outsourcing comes in. I hire workers and outsource graphic design, custom WordPress design, and bookkeeping. For my clients, I outsource article submission, custom tweets, Facebook postings… As we all know, many of these things can be done better and less expensive by someone else. If I had a big team, I would need to keep them busy full-time and sometimes that’s not feasible. So pulling in outsourcers is a perfect model for me and could be a great model for you!
Many of my clients are happy with the work that outsourcers do but don’t want the headache of having to manage them, and that’s a service you can provide – project management.
Niche! Niche! Niche!
I may sound like a broken record, but not specializing in a certain niche and you will be destined to mediocrity. It can be helping baby boomers get started turning their hobbies to businesses, only working with financial advisers, or specializing in a certain area such as marketing implementation (that’s me!) No matter what the area of expertise or the target market, you need to know WHO you are marketing to in order to have a clear marketing message.
If you are a virtual assistant, check out E-Marketing Essentials for Virtual Assistants: How to grow your business online in less time and with less effort for more marketing tips and strategies! And if you are an online business owner, I have written Quick Start Guide to Marketing just for you.





Being a virtual assistant, change is common because there are always new programs to learn and upgrades to be done. But I suffer from upgradeaphoebia and seriously, it’s a wonder I ever upgrade anything. Sometimes I have to upgrade in order to accommodate something I need or want and in these cases I don’t really mind. But other times, when I am forced to upgrade for the sake of it or because it’s pushed upon me (Windows Vista anyone?), then the horns start growing, the vein pops out, and my teeth start gnashing. Ok, I guess I am not that bad, but pretty close.



Hi
and welcome! I'm Lisa Wells and as a successful virtual
professional since 2005, I want to help you with your online business! If you are motivated to start your own online business and want to learn from my successes (and failures!), please
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