Are You Earning Money or Making Money?

When you begin working as a Virtual Assistant, if you’ve never owned your own business, a significant mindset shift needs to occur around money. 

Traditionally, when you have a job, you are earning money. You get hired, negotiate your pay and benefits, and receive compensation. Most of the time, your earnings remain consistent unless you’re in commissioned sales.

Now, let’s talk about making money.

When you're a Virtual Assistant, you are a business owner, which, when it comes to compensation, is very different from having a job. You decide how much to charge, you decide how many hours to bill, and you decide how many clients to take on. In this situation, you are making (creating) money as a result of your efforts, decisions, and actions. It’s all you.

No one can lay you off, stop you from succeeding, or cap your earnings. Those are some pretty empowering thoughts.

So, you might wonder, what gets in the way of making this vital mindset shift?

Limiting thoughts like this:

1. I can't charge that much if the work is easy. This is a big trap for new VAs. Think about this instead: Just because filling a tooth is easy for your dentist doesn’t mean he won’t charge you much. Or how about your mechanic? Fixing your transmission might be simple for them, but it will cost you the big bucks. When something comes easy to you, it doesn’t mean it’s not valuable; it means it's a superpower.
    
2. Listening to people who don’t know what they’re talking about. Instead of listing to an industry expert in Virtual Assistance, you’ll ask your brother-in-law or best friend if they think you can charge $50 an hour as a VA. I promise they’ll tell you no way. They’re wrong.
   
   Similarly, please don’t ask people who have spent their lives working for someone else how to run your business or find clients. They have no idea and will always send you down the wrong path. Find a mentor who’s created what you want and work with them to get results quickly and efficiently so you can start making the money you want.
    
3. My clients can’t afford to pay me. This thought may or may not be accurate, but I’ll tell you what – people spend money on what they decide is important to them. If your kid needs new cleats, you figure it out.
   
   When I hear “I can’t afford your rate,” I translate this to “I’m not willing to invest in my business.” And that’s OK, you won’t be a fit for everyone. Remember that it’s not your responsibility to literally fund someone else's business by working for less than you want to charge.

A magical transformation awaits once you embrace this money mindset shift and start making money instead of earning it. You’ll see your confidence expand and your stress subside as you take charge of your financial future.

If you’re not already a member of our Facebook Group, The Virtual Assistant Connection, and would like to join, here’s the link: https://www.facebook.com