Is the Virtual Assistant Space Oversaturated? My Trip to Colombia & More...????

Hola friends, Hannah here!

I'm writing this while on a high because I have just booked a sweet 10-day vacation for my wife and I to a city I haven't seen in a few years, Medellin. The best part being that I covered the entire trip, flights and accommodation, with points! ?? More on this below. First, let's dive into this week's topics...

In this newsletter:

?? Thoughts on Twitter Rival, Threads

?? Here’s How I Find the Best-Paying Clients (Business Insider Feature)

?? Is the Virtual Assistant Space Oversaturated?!

?? Meet Elly: A Neurodivergent VA and OBM

? The 5 Day VA Challenge: 10 Days to Go

???? My 10 Day Points Trip: Cards I’ve Been Using

Est. reading time: 10 mins, grab a ??

???Thoughts on Threads

By the time this is posted, Threads will be yesterday's news. But let's break it down anyway. Threads by Meta, a new Twitter rival, is a social media platform that is closely tied to your Instagram account. I jumped in yesterday and have to say, I like it. Here's a few facts:

• Threads is s separate app you must download
• It reached over 30mil users in a couple of days, the most rapidly downloaded app ever - even beating out ChatGPT
• You sign up and your account will reflect your Instagram details, although you can edit your bio so it's unique to the platform if you're prefer
• It's not so easy to leave - if you want to delete your account fully, it takes deleting your Instagram account, yikes!
• It's available now in around 100 countries and will roll out elsewhere in good time, so don't worry if you haven't got it yet, you will!

Honestly, so far, I love it. It's an easy, convenient and low-pressure way to get messages across (up to 500 characters). No scheduling or hashtags, just plain and simple posting and connecting. At least for now. My opinion is that it won't last all that long in the way it is right now, before we know it, it could be swamped with bots and copy-cat marketing messages. But I could be wrong. For now, I'm enjoying interacting with a mixture of business, personal, and entertainment contacts I've amassed on Instagram. It's making for an interesting scroll, that's for sure. I think overall, it's a smart platform, giving Instagram users a place to connect beyond the visuals in real-time, and clearly it is meeting a market need as Twitter's popularity wanes.

Download Threads and then come?give me a follow there . I'm going to be using it a lot in the next weeks :)

?? Here’s How I Find the Best-Paying Clients (Business Insider Feature)

I recently landed a big feature in Business Insider and I am excited and grateful to have collaborated with the awesome Robin Madell , on this one.

I've made 6 figures a year as a virtual assistant and now train others to do the same. Here's how I find the best-paying clients and avoid the big red flags.

In it, I talk about 5 things you can do to land clients who pay well, plus I talk about the biggest red flag you'll want to be aware of. I'm really pleased with how this came out and hope you find it helpful in your freelance journey! Click the image below?or here ?to read ??

?? Is the Virtual Assistant Space Oversaturated?!

The VA career is still in its infancy, meaning there's plenty opportunity and space for innovation. It is not a saturated market by any means.?Let's explore...

Much like the lifecycle of a product, the VA profession has stages of introduction (or early adopters), growth, maturity, and decline (or likely extension). The VA career is solidly in its growth phase, evident through increasing demand, diversified services, and global expansion. These factors point to a thriving industry that offers excellent opportunities for career growth.

Broad Service Scope

The VA profession encompasses a?wide array of services ?that can be offered, from traditional admin tasks to more specialized roles like tech support, creative writing,?podcast management ?and social media management. This continuous diversification of the field ensures that new spaces are always being created, mitigating the risk of oversaturation.

That Personal Touch

Much like almost every profession and business, take life coaching, yoga instructing, or even airlines, each VA adds their own special sauce to their work, showcasing their unique skills, personality, and approach, effectively carving out their own niche in the industry. Individuality drives the VA profession, countering oversaturation. The customizable nature of VA services amplifies this individuality. This is the kind of diversity, essential for a vibrant, evolving industry.

Increasing Demand

The shift towards remote work, punctuated by the COVID-19 pandemic, has led to an increased demand for VAs. Businesses of all sizes, across various industries, now understand the value in hiring VAs and the market is expanding to meet this growing need. Spotting more VAs in the field is a promising sign of a flourishing and bountiful market, not an overcrowded one!

So, Why Do Some Believe It Is?

New VAs, just like other business owners, might feel the industry is overflowing. It's understandable! The sight of established VAs offering similar services might lend to this feeling. The same goes for new carpenters or makeup artists, for instance. Starting?any?business can be challenging.

Many experience hurdles when securing their first few clients, leading to a feeling that markets are oversaturated, which leads them to give up before the going gets good.

Without identifying their unique selling proposition, a new VA might feel they are just one among many, creating a sense of saturation. In short, a lack of differentiation (remember what I said about individuality?). If their efforts aren't bringing the desired results, they may mistakenly think there's no space for them, rather than identifying the need to "research & refine" (one of the client acquisition methodologies we teach) and give more effective client-finding strategies a shot.

Remember, being a VA means running a business. Equipping yourself with career-specific knowledge and tools is great; pairing these with crucial business insights will see you thrive in this growing career. By joining our upcoming?5 Day VA Challenge , you can get started on a winning foot in this space and learn how to carve out your career in a way that deems "competition" a foreign concept.

Speaking of VAs leaning into their individuality...

?? Meet Elly: A Neurodivergent VA and OBM

In our student spotlight blog series, we highlight some of our wonderful?Virtual Excellence Academy ?members to share their journeys.

All the ups, downs, and surprises on the way to building their dream business. Giving you a realistic insight into where this career path can take you and how it can impact multiple areas of your life!

In this one, we’re interviewing Mishelle Hurst , a member since May 2022 who has been making waves with her skillful, specialized support for multicultural and neurodivergent clients.

Having transitioned from a corporate background with a rich skillset in operations and project management, Elly harnessed her superpowers as she shifted online to create a significant impact in the VA and OBM space. Doing the work she loves in a way that’s authentic to her, Elly’s determined and adventurous spirit continually opens new doors. Let’s dive in to learn her story!

Click the image below?or here ?to read ??

? The 5 Day VA Challenge: 10 Days to Go

In just ten days we're getting started with this summer's FREE 5 Day VA Challenge, and it's looking like it's going to be a bustling time with over 1500+ of you already on board! Whether you want to kickstart a VA/freelance career, or refine your existing business, you'll take great benefit from joining, as thousands have before you.

But first, what is this NOT?

?? ♀? Generic training you could find anywhere

?? Telling you to use sites like upwork or fiverr (ugh)

?? Boring stuff you'll forget in a week

?? Loaded with fluffy filler content

What IS this?

?? Personalized support - yep, from me! Even with 1400+ of you already registered. It is a labor of love :)

?? Stuff you can put into action and get results from immediately

? Boatloads of fun

?? ♂? An opportunity to network and make friends with our accountability buddy system

?? A no-nonsense step-by-step plan to start the business you've been dreaming about - and make it profitable

?? A sure-fire way to give yourself the green light to go after your dreams, you'll come out of this training bursting with clarity and confidence no matter the direction you go

If you haven't yet, now is the time to register, join the support group, and get yourself an accountability buddy in time for the start date (July 17th) ?? Register via the link below, or here ??

???? My 10-Day Points Trip: Cards I’ve Been Using

For those of you who have been getting this newsletter long enough, you may recall that over the past few years I have been working hard on building my credit score from the ashes in an attempt to get into the points game. I didn't understand much at the start of this journey, but being me, I threw myself in 200% and figured a lot out. This year alone, I have managed three roundtrip flights from Mexico to international destinations, completely paid for by the points I've accumulated.

But this last booking was a real winner for me; being able to take my wife away in style is epic ?? We're heading to Medellin, Colombia. A third time for me, a first for my wife. It's a city that captured my imagination years ago, so I'm excited to see how it's changed since my last trip. With points, I was able to book us return flights and 10 nights of accommodation. Kinda feels fake really, like; this cost nothing but choosing to use certain financial products?!

I apologize in advance, much of the below is US-focused, but if you're elsewhere, it might still give you an idea of what financial products to look for where you are.

I use business credit cards as that’s where I spend most. I don't spend for the sake of it. I'm super responsible with credit, paying off in full each month, keeping my credit usage under 30%, and all that. I recommend credit card surfing like this if you know you have the discipline to do the same.

Here's the business cards I have gotten the most benefit out of and still do:

1???Spark Miles for business : This is a great card, giving you 2x points on every $1 spent no matter what you spend it on. An easy points accumulator for the avid traveler. $95 a year; check all benefits?here ?to see if it's a fit for you. There's also a free Spark card with 1.5x miles, I believe, if the cost is of concern. You kind of have to weigh it up; for me, the 0.5x more points on the paid card paired with my business spend and travel frequency made sense.

2???Amex Hiltons Honors: ?I rarely stay in hotels, but for the times I do, I figured getting a hotel points card couldn't hurt. This one stood out as for $95, you not only rack up tons of Hilton points, but it gives you 10 free airport lounge passes for you and guests per year. It too, has many other rewards you can check out?here . This is a rare paid card I think I will keep on the long term as I love the lounge passes, and 10 does me just fine, considering the amount of air travel I do these days is less than in previous years. This paid off big time, the sign-up bonus points have just paid for our 10-night stay in Colombia, which is sweeeet.

Personal everyday spending card:

1???Capital One Venture:? I use this card for almost all my personal spending. It's an easy breezy points accumulator with 0 foreign transaction fees. Again this is $95 a year, and worth it to put all my spending on it to realize the rewards. I believe there is a higher-tier Venture card and a free one too. Check out this solid all-around personal card?here .

To put it into perspective: Our trip to Colombia would have cost $2400 if we'd had to pay cash, so the 3x $95 credit card fees per year all of a sudden make a lot of sense. Especially when I'm spending the money in my business anyway!

Fun fact: To get a business card, you don't need to be a registered business. Many card companies will accept sole proprietors - like many VAs are! Worst case, there are equivalent personal cards with great sign-up offers and ongoing rewards too.

*Disclaimer: I am not a financial advisor, take on credit at your own risk after doing your own due diligence. Know that I share this all from a place of being excited about my ability to start realizing rewards. That said, if there's interest in this topic, I'm happy to throw together a resource or a live stream or something. Let me know ??

?? That's a Wrap

Thanks for reading, friends! Be sure to connect and share your experiences with me. You can follow me?on the gram , or hey, how about?Threads ?to see what I'm up to in the moment! If you enjoyed this edition of the newsletter, please give a subscribe here on LinkedIn too :)

Cheers,

Hannah Dixon

Ps. Only ten days to go; doors to the support community are open! If you're ready to give building a freelance business of your own a real go,?register for the 5 Day VA Challenge , July 17th - 21st!