Welcome to another episode of the podcast that teaches you how to be a ridiculously good virtual assistant.
Today I am talking about how to plan for the future by looking at the past.
Today’s Quote: If the plan doesn’t work, change the plan, not the goal. – Unknown
Click the play button above to tune in, or choose your favourite podcast player below:
Connect with Tracey D’Aviero, VA Coach and Trainer
Episode Notes:
Here we are the end of another year and it’s time to reflect back on what we did well in our VA business, what didn’t go so well, and what we want to do differently in the coming year.
It’s not that we need a huge shakeup, but it is a good time of year to make some decisions.
i teach a process I call my Lookback Process, and what that does is helps you identify first of all what you did, second how it worked out for you, and finally, what you can do to equip yourself to achieve your future goals.
I do that by talking about a number of different areas: success, money, clients, networking and marketing.
You can watch my full training and pick up the handout here:
Lookback Process Training and Handout
Here we are the end of another year and it’s time to reflect back on what we did well in our VA business, what didn’t go so well, and what we want to do differently in the coming year.
It’s not that we need a huge shakeup, but it is a good time of year to make some decisions.
i teach a process I call my Lookback Process, and what that does is helps you identify first of all what you did, second how it worked out for you, and finally, what you can do to equip yourself to achieve your future goals.
I do that by talking about a number of different areas: success, money, clients, networking and marketing.
Success
When we want to achieve success, we have to think about success.
But a lot of VAs never do that.
We focus instead on our struggles, the things that are hard, and the things that are not going right.
When you spend a lot of time in that kind of negative headspace, it can be really hard to pull yourself out of it.
And it definitely comes through in your conversations with business people, where you realize it or not.
The way to lift yourself up is to focus on your successes.
In fact, I suggest starting a success journal and recording 3 things every sincle day in it that your succeeded at. Business things, i mean.
They don’t have to be huge things, they can be small, but they have to be your successes.
There is always something to celebreate.
What did you do that you were proud of?
What was something that went well for you?
Maybe you consistently showed up on your social media, or posted a blog post, or sent out a newsletter.
Maybe you signed a great new client, or had conversations at a new networking group.
Maybe you finally just started your business.
Yay you!
Your successes are your own.
So, write them down and celebrate you.
If you are having trouble finding the good in your business, then this should be your highest priority – to find the good. Do this daily for a while until your mood lifts.
I reached out to 3 people about my business today.
I madet hings easier for a client today by doing x task.
Treat yourself when you write down your 3 things -every day for a week. Everyone responds to treats!
Money – Revenue
We start with revenue, because as you know, revenue is what drives your business.
How much revenue did you earn in your business each month last year?
What was your budgeted revenue?
How close were you to your budget?
If you didn’t have a budget, that’s your first step to take in the coming year.
A budgeted target tells you how much networking, marketing, expense control, whatever, you need to do during the month to reach your targer.
Action Items
Set a budget for monthly revenue
Create action steps to map out specifically where you will find the revenue you need to meet your budget.
Start a revenue tracker to hang in your office space. Keeps it top of mind and shows you the opportunity you are bringing in (or missing).
Analyze where your money is coming from every month. If you can increase your revenue with training, doing more work for existing clients, passive income, whatever, then implement that.
Money – Expenses
How much were your expenses every month?
What was your budgeted expense and how close were you to your budget?
If you don’t have a budget, again that’s step one.
Tracking your expenses helps keep you profitable – and can also tell you when you need to find more revenue to cover expenses if they change.
Action items
Set a budget for your monthly expenses.
Identify where you are spending each month. Don’t forget those annual payments – put those in your budget as a monthly amount so you have enough to cover them when they are due.
Start an expense tracker to hang in your office space. Keeps it top of mind and helps you think about ways to automate, increase prices, package your services or whatever to keep your VA business profitable.
Managing your expenses this way also helps you to plan new training or support or even travel to events for your business.
Clients
How many new clients did you bring in last year, each month?
How many existing clients did you retain? How many of those were worth retaining?
Some VAs keep all of their clients, even the ones they don’t like working with, just because finding new clients seems like more work.
But identifying who you like to work with and knowing where to find more like them is key to a happy VA business.
Also figure out when your clients came in to work with you – and monitor when they could use a rate increase. So many VAs I know don’t raise their client rates – but you should, and you must!
Or you can increase your workload by doing more for them. Be proactive!
Action Items
Reach out to 1 person a day to keep your pipeline full. You never know where your next client will come from, but if you keep having business conversations every day you give yourself a lot more choices.
Look over your client list regularly. What can you change to make your VA business better?
And don’t forget those rate increases or new tasks – these can change the direction of your VA business completely.
Networking
How many new connections did you make each month?
Did you follow up with everyone you connected with? if not, why not?
Identify the events you attend or the groups you were a part of – did one work better than the others? Why or why not?
Time of year? time of day? first time events versus ones you attend regularly – figure out what works best for you.
Did you track your connections and your conversions? What can you do to make your networking work better for you?
Action items
Start a networking tracking sheet. Track who you are having conversations with and what the status of those conversations are.
Plan to attend at least one networking event a week – especially if you are looking for new clients.
Calculate your conversion rates – know how many contacts you need to make to get a client.
Set a goal for every networking event you attend. It doesn’t have to be just to get clients. Networking is about connections, not sales.
Set up a follow up system – and use it.
Marketing
What did you try to help market your VA business?
What worked for you? What didn’t?
If something didn’t work, why didn’t it?
Was it executed properly?
Did you give up?
Should it have worked?
If it didn’t work, fine, but make sure of WHY before you think it can’t work for you.
Often we just give up when things are tough.
Analytics are key for everything but especially for marketing.
Do more of what works for you.
Do less of what doesn’t work for you.
Change course when things aren’t going right. Get help when you aren’t sure.
Action items
Start a marketing calendar. Plan what you will do and when (and why).
Plan at least one marketing initiative a week, especially if you are looking for new clients. Do not do more than you can handle. Set bite sized chunks of time into your calendar to do your marketing.
Analyze your marketing activities at least monthly (better weekly) and change course as necessary. Get support when you are stuck or aren’t sure.
You don’t need to be everywhere, you just need to be where your people are seeing you and interacting with you.
There ya go. Lookback Process, in a nutshell.
Pick up my handout in the show notes of this episode and you can do a monthly summary for each month of last year.
Fill it in to the best of your ability – especially the results you go.
Then do your analysis.
What is working for you. What can you change? What should you change?
How can you plan to change it?
Do your review so you can build a solid plan for the coming year.
You can do it!
Using this process helps you identify your areas of strength and weakness, so you know how to get better results in the future.
Lets circle back to today’s quote: If the plan doesn’t work, change the plan, not the goal.
You know what you want. Set your plan in place to get it and then work like hell to get there. Get help when you need it.
If you need help getting your plan in place for your VA business, be sure to get in touch with me. I’m here to help.
It’s the only reason I’m here at all, as you know. To help you become a ridiculously good VA.
I have helped hundreds of VAs who are stuck get moving. I’d love to do the same for you.
We can work together privately, or in The Virtual Circle, my monthly mastermind group, or in my Plan to Profit group coaching program, or you can enroll in some of my self study trainings. I have lots of options to move your forward. Check them out in the show notes for this episode. Thanks for tuning in this week! I’ll see you next time!
What You Need to Do Next:
Let’s work together privately to get you to your really big goal. It’s the fastest way to get results and we can start right away. Learn more about private coaching here.
The Virtual Circle (TVC) is a monthly mastermind group for Virtual Assistants just like you. We get together 3 times a month for group Zoom sessions to talk about what you are struggling with, working on, or celebrating. It’s a close knit community of your VA colleagues that provides the best kind of support for your VA business. Learn more about TVC here.
My self study program Getting Started as a VA can help you get your VA business started easily and quickly too. You can sign up right away and be on your way to getting clients by the end of the program, with all the right foundations in place. Check out the program here.
Click here for more tips to help you with your productivity and time management in your Virtual Assistant business.
Reach out to me if you need to talk about where you are stuck and what the right option might be to get you moving. It’s literally all I’m here to do is help you get to where you want to go. Book a complimentary Cut to the Chase call with me here.