A while back, I wrote about my decision to take on a Virtual Assistant for a fixed monthly fee. Previously, I was paying a $10 retainer fee to GetFriday.com to have a VA available for the occasional odd job. Now, I’ve raised my subscription to $120/month for 10 hours of service. I’ll have to figure out how to best use those hours through the month.
When I wrote this, I was not expecting the responses I received on the topic. I’ve had comments from several companies that offer VA services. Some of them seem intriguing. Here is a list of those who have commented thus far:
I’ve also had visits from people who are making it work in the U.S. as VAs.
One thing that has caught my attention regarding VAs in the U.S. vs VAs in foreign countries is the idea that domestic VAs cost more on an hourly basis, but generally charge less per task because it takes them less time to perform it. World Office Support writes that foreign VAs generally take longer to perform a task than their American counterparts. It’s a penny wise, pound foolish argument. They may well have a point; but it is difficult for me to test given that American VAs earn more than I do on an hourly basis. I think we are probably talking about different markets. American VAs are targeting people with more money than time. Foreign VAs seem to be targeting those of us with little of both. I’ve got the pennies, not the pounds.
A good example of the situation has to do with shampoo. Unilever tried selling shampoo in India just like they do in other countries. For some reason, their product was not moving. However, they did notice that travel-size shampoo was selling much better. Why? Well, you do get a better deal by buying shampoo in larger quantities, but often you only have enough money for small quantities, even with the added cost. So, the market could afford shampoo in travel-size containers much better than the standard size containers.
In the end, what you should get out of this is that comes down to arbitrage. One has to be able to buy and sell the same product at a difference in price in order to make a profit. The product in my case is time. At my current rate, there is parity between what I earn at my day job and what GetFriday earns. However, there is a price differential between what I earn in my computer business and what GetFriday earns. It is better for me to use the VA for business-related tasks than personal tasks. It pays for itself, in a way. If I were to move up one tier of monthly service, then it would actually be feasible to give my VA personal assignments as well. I could not do the same with an American VA. I’d operate at a loss whether it’s 1 minute or 60. At this point, I am short on time and money. I need to leverage both. I know I won’t be successful if I am paying my VA more than I earn on an hourly basis. Doing business at a loss is both penny and pound foolish. Maybe once I’m rich I’ll be able to hire an American VA; but not now.
Shaine 