March 2004

Overcoming the Reluctant Propsect

by Sharon Williams

During the month of December 2003, the Alliance's Survey Committee created a survey entitled "Identifying ways you can overcome the reluctant prospect." We asked Virtual Assistants to share how they overcome objections of a reluctant potential client and to provide examples of information they share with their clients. Below are some of the questions and responses. This information can be used as one of many resources to assist a VA when formulating a strategy to approach a prospect.

How do you show prospects the value of using a VA?

• Provide relevant news articles about the VA industry or my business.
• Create a cost comparison analysis of VA's services versus employing a full time staffer.
• During the initial interview offer time-saving ideas, a portfolio of previous work and/or a company presentation folder.

How do you describe the benefits of retaining a VA's services?

• VAs eliminate backlogs.
• Client would reduce overhead by using VAs only when needed.
• VAs offer a wide range of expertise in their niche skills and are versatile professionals.
• Virtual Assistants can handle overflow work, and stand in for volunteers or when full-time staff is absent.
• VAs can enhance an entrepreneur's professional image.
• Clients given more time to concentrate on expanding their business through marketing; developing better customer relation strategies; ability to reach more clients or reconnect with old.
• VAs provide access to technology created to reduce workloads.
• As business grows, eliminates need for more office space, equipment, providing benefits, hiring another in-house employee, etc.

How will the prospect be able to measure the progress and value of your work as it relates to his/her business?

• Present a cost analysis worksheet based on time and costs saved. For example, the cost of an employee versus a VA's hourly rate.
• Provide time and progress reports, evaluation tools and checklists.
• Create a CLIENT ACCESS webpage where they can log on and see the progress of projects and thus can evaluate the value of timely progress and production.
• The quality of the work will show immediately. It will look extremely professional and accurate. The client will feel less stressed as VAs free them to do their business knowing that a qualified person is handling all their administrative business needs.
• Offer a guarantee.
• Conduct periodic check-in meetings with the client to ensure quality and needs are being met.
• Offer an explanation and better understanding of the technologies VAs use on a daily basis that save clients time and money.

Do you explain what happens to your client's time-critical work if something happens to you (i.e. accident, illness, etc.)?

Yes - 41% of respondents say they subcontract to other VAs.
No - 59% said they work even when they are sick and the client isn't informed.

Do you outsource to other VAs?

53.8% said yes
43.6% said no
2.6% did not respond to this question

When asked how often do VAs outsource, respondents replied:

Everyday 2.6%
Weekly 7.7%
Monthly 20.5%
Yearly 5.1%
Never 15.4%

The remainder skipped this question.

How often could/should the client be speaking with you by phone regarding work-related tasks?

Everyday 15.8%
1 - 3 times per week 68.4%
4-7 times per week 0%
A few times per month 7.9%
Other 5.3%
Never 2.6%

Do you guarantee your work?

81% of VAs provide a guarantee
19% of VAs do not provide a guarantee

How long is the guarantee? Of those that were willing to state the length of their guarantee, respondents replied:

32.4% 1 month
24.3% 1-2 months
0% 3-6 months
2.7% 7-12 months
2.7% Longer than 1 year

The balance did not report having a guarantee policy.

Other Questions?

Finally, VAs were asked if they had a question or topic that you would like asked in a future survey. Some of the responses are listed below. These topics demonstrate the wide variety of questions, concerns and the need for relevant information about how to run a VA practice. Several of these topics will be covered in future surveys.

1. How many VA's actually have 40 billable hours per week? How long did it take you to reach that goal, and how many clients?

2. How do VA's track time on a project. DO all VA's do timesheets? If so, how often? How do VA's handle non-paying clients? How do VA's explain their retainer system - that is - if all the purchased hours are not used within one month - it will go into a bank or roll over to the next month or do unused hours expire?

3. New technology brings new challenges. When something is brand new (either a program or system) how do you charge for that if you are either: Proficient in using the latest and greatest or, on the other hand, if you are learning as you go.

4. How many VAs are there in the industry? What are the type of industries that are utilizing our services and what percentages?

5. What do you feel is the most important items to have on a form such as proposal, time, contract, confidentiality.

6. With the internet making this REALLY a small world, how does one work the various currency figures? So far, I've only dealt with US/Cdn. currencies at par. But should other currencies be rated on DAILY basis?? Or take an average exchange rate over period of X days/weeks and convert to appropriate currency?

7. I would be interested in some numbers regarding how many VAs work mostly through local connections as opposed to working with people they actually never meet.

8. I am always questioning whether the prices I have set for my services are reasonable and would like to know how others decided on their pricing and why. Also I am curious as to whether you can honestly make a living from being a Virtual Assistant without working with subcontractors in order to obtain more work. I am a one-person operation and in my third year of business. Each year I have slowly been increasing my sales. But I would like to know how others generate a steady income and maintain it.

9. I'm interested in the topic of professionalism and professional development and I'd like to know what other VAs do to keep themselves up to date with skills and technologies.

Results of the January survey, "How to Get into Virtual Shape in 2004", will be posted in the next edition of The Alliance.

Our next survey will discuss "Marketing". If you would like to submit any questions for inclusion in the Marketing Survey, please send them to: survey@AllianceforVirtualBiz.com.

The complete survey results of "Identifying ways you can overcome the reluctant prospect" will be posted on the Alliance website at: http://www.AllianceforVirtualBiz.com. Please visit the site for additional information.

About the Author

Sharon Williams is a Master Virtual Assistant and president of The 24 Hour Secretary. Subscribe to her free monthly e-zine about virtual assisting support that creates freedom, at www.The24HourSecretary.com. She is the author of Marketing Your VA Practice: It's Not About Money, It's About Having the Right Strategy, offering business-marketing strategies that won't break the bank. For more information about the VA industry, business support, or the book, send email to: sharon@The24HourSecretary.com.