Monday, February 22, 2010

Five Reasons to Start your Virtual Assistant Business during a Slow Economy

Have you toyed with the idea of starting a Virtual Assistant business, but thought that the economy was so bad it just can’t be a good time to begin? Here are five reasons that may change your mind:

1. Things are cheaper to buy during a recession. Items that you need for your office such as furniture, equipment, office supplies, cell phones, etc. are either at reduced prices to begin with, or companies are having bigger sales in order to move their inventory and compete for their share of the market.

2. There is less competition. Not as many people have the resources to start a business when the economy is faltering, nor are the banks as quick to provide funds. Good entrepreneurs though can see the opportunities that are abounding during this downturn, start their businesses, and thrive.

3. You tend to work harder to build your business. Small business entrepreneurs are aware of the difficulties a recession can present and will use this time to focus on learning new technologies, take classes to increase their skills in a particular subject area, or become creative in marketing their services. You really want to start your business, so you’ll try harder to make it work, even in difficult economic times.

4. Recessions tend to create opportunities for potential business owners to reach out to new adventures. You may have been thinking about starting a virtual assistant business for several years, but because you just got laid off from your fulltime job, or your hours were cut back to part-time, you think the present may not be the best time to begin a new career. Look at all your options—now may be the best time to take that leap.

5. You can learn to be efficient and thrifty. You don’t always have to have the latest and greatest piece of equipment, or the most expensive software written in order for you to run your business effectively. There are many great open source software products out there. Take OpenOffice for example. This downloadable software is a very good alternative to Microsoft Office Suite and it’s free. A simple internet search will reveal many different alternatives.

So, if you have hesitated to start your business because of the recession or don’t think now is a good time to set out on a new endeavor, think again. It just might be the best time of all!

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