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Tag: Virtual Assistant

  • Microsoft’s Copilot AI Gets a Voice, Vision, and a ‘Hype Man’ Persona

    Microsoft’s Copilot AI Gets a Voice, Vision, and a ‘Hype Man’ Persona

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    Microsoft deleted the over-eager office assistant Clippy some 17 years ago, but the vision for an friendly and optimistic AI helper has apparently found its way out of the Recycle Bin. The company is overhauling Copilot, the text-based artificial intelligence tool bundled with Windows and other software, with the addition of vision, voice, and the ability to solve more complex problems—along with a more “encouraging” personality.

    “We really are at this amazing kind of transition point,” says Mustafa Suleyman, CEO of Microsoft AI. “AI companions now see what we see, hear what we hear, and speak in the same language that we use to communicate with one another.”

    Copilot has so far met with a mixed response, with some users complaining of lag or vagueness in its responses, but Microsoft is betting that the tool could eventually become an integral part of Windows, Office, and beyond. By incorporating OpenAI’s AI algorithms into software that is used by hundreds of millions of people, the company is also at the forefront of testing the potential for AI to boost productivity in office work. Google, a big rival, is also shoehorning AI into office apps including Gmail and Google Docs.

    The new Copilot will be able to converse with users in several humanlike voices, handling interruptions and pauses naturally. “You can interrupt in mid-flow and it can also actively listen,” Suleyman says. “And that’s kind of the art of great conversation.”

    Suleyman adds that Copilot has also been tweaked so that it offers more emotional support to users. “It’s on your team, it’s backing you up, it’s your hype man,” he says. Copilot Voice will be available from today in English to users in Australia, Canada, New Zealand, the United Kingdom, and the United States, with more countries to follow, the company says.

    Microsoft’s helper Clippy, an anthropomorphized paper clip, was best known for appearing when users opened Word with the infamous line “It looks like you’re writing a letter…” The product was unpopular; Microsoft concluded this was in part because the program failed to deliver on the humanlike intelligence it promised, forgetting users’ preferences and repeating itself endlessly. Large language models are far better at mimicking human intelligence, but their behavior can still be odd and unpredictable, which may prove a factor in Copilot’s popularity.

    Copilot Voice will be available in the free version of Copilot for Windows, which is also available in a standalone mobile app and via the web.

    Microsoft is introducing some more experimental upgrades to Copilot as well, which will be limited to those who pay for a $20 per month Copilot Pro subscription. An opt-in feature called Copilot Vision will let the AI assistant see users’ screens and react to things that they point to with their cursor. Suleyman says a user can indicate a product, for example, and ask Copilot to offer an opinion based on reviews sourced from the web.

    “One of the things that seems to be most common is that people ask it for aesthetic advice,” Suleyman says. “They’re on a fashion website, and they’re like, what do you call that pattern? What do you call that dress?”

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    Will Knight

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  • Wells Fargo updates virtual assistant to monitor spending | Bank Automation News

    Wells Fargo updates virtual assistant to monitor spending | Bank Automation News

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    Since the start of the year, Wells Fargo has added new capabilities to its AI-driven virtual assistant, Fargo.  Powered by Google Cloud, the digital assistant is now equipped with AI-driven insights to help bank clients better understand their spending habits and access actionable tips about their finances, according to the bank.  “The latest Fargo updates […]

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    Whitney McDonald

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  • We’re Still Waiting for the Next Big Leap in AI

    We’re Still Waiting for the Next Big Leap in AI

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    When OpenAI announced GPT-4, its latest large language model, last March, it sent shockwaves through the tech world. It was clearly more capable than anything seen before at chatting, coding, and solving all sorts of thorny problems—including school homework.

    Anthropic, a rival to OpenAI, announced today that it has made its own AI advance that will upgrade chatbots and other use cases. But although the new model is the world’s best by some measures, it’s more of a step forward than a big leap.

    Anthropic’s new model, called Claude 3.5 Sonnet, is an upgrade to its existing Claude 3 family of AI models. It is more adept at solving math, coding, and logic problems as measured by commonly used benchmarks. Anthropic says it is also a lot faster, better understands nuances in language, and even has a better sense of humor.

    That’s no doubt useful to people trying to build apps and services on top of Anthropic’s AI models. But the company’s news is also a reminder that the world is still waiting for another AI leap forward in AI akin to that delivered by GPT-4.

    Expectation has been building for OpenAI to release a sequel called GPT-5 for more than a year now, and the company’s CEO, Sam Altman, has encouraged speculation that it will deliver another revolution in AI capabilities. GPT-4 cost more than $100 million to train, and GPT-5 is widely expected to be much larger and more expensive.

    Although OpenAI, Google, and other AI developers have released new models that out-do GPT-4, the world is still waiting for that next big leap. Progress in AI has lately become more incremental and more reliant on innovations in model design and training rather than brute-force scaling of model size and computation, as GPT-4 did.

    Michael Gerstenhaber, head of product at Anthropic, says the company’s new Claude 3.5 Sonnet model is larger than its predecessor but draws much of its new competence from innovations in training. For example, the model was given feedback designed to improve its logical reasoning skills.

    Anthropic says that Claude 3.5 Sonnet outscores the best models from OpenAI, Google, and Facebook in popular AI benchmarks including GPQA, a graduate-level test of expertise in biology, physics, and chemistry; MMLU, a test covering computer science, history, and other topics; and HumanEval, a measure of coding proficiency. The improvements are a matter of a few percentage points though.

    This latest progress in AI might not be revolutionary but it is fast-paced: Anthropic only announced its previous generation of models three months ago. “If you look at the rate of change in intelligence you’ll appreciate how fast we’re moving,” Gerstenhaber says.

    More than a year after GPT-4 spurred a frenzy of new investment in AI, it may be turning out to be more difficult to produce big new leaps in machine intelligence. With GPT-4 and similar models trained on huge swathes of online text, imagery, and video, it is getting more difficult to find new sources of data to feed to machine-learning algorithms. Making models substantially larger, so they have more capacity to learn, is expected to cost billions of dollars. When OpenAI announced its own recent upgrade last month, with a model that has voice and visual capabilities called GPT-4o, the focus was on a more natural and humanlike interface rather than on substantially more clever problem-solving abilities.

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    Will Knight

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  • Citizens receives patent for its Digital Butler | Bank Automation News

    Citizens receives patent for its Digital Butler | Bank Automation News

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    Citizens Bank’s virtual assistant, Digital Butler, was granted a patent this week for its “high degree of personalization,” Jo Wyper, executive vice president and head of operations at Citizens Commercial Bank, told Bank Automation News.  Whereas retail solutions have personalized capabilities, commercial solutions often do not. The $222 billion bank’s Digital Butler assistant provides commercial […]

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    Whitney McDonald

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  • 6 Signs You Need an Executive Assistant | Entrepreneur

    6 Signs You Need an Executive Assistant | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If you don’t have a virtual or executive assistant, you probably are one.

    As the boss, you know focusing on high-impact initiatives that drive greater value is crucial. You probably use a suite of productivity tools to help complete administrative tasks. And with well-optimized tools, you can get a lot done.

    But here’s the irony: Your day-to-day productivity habits can keep you from getting to the things that are the highest and best use of your time. You might feel productive without completing what counts.

    When quickly moving from task to task, what matters most goes out of focus without noticing. Being busy doesn’t equate to being productive. I see entrepreneurs make this mistake all the time.

    Many signs tell you you’re veering into danger, and here are some of the most common I’ve seen. If you nod yes to any of the following, you might need an executive or virtual assistant.

    Related: I Found an Executive Assistant Who Changed My Life — Here’s How To Find Yours

    1. Your inbox is overflowing

    You fire off emails all day but never see the bottom of your inbox. As a result, your to-do list gets longer, not shorter, every day, too. Even with organizational tools flagging the ones you want to respond to, essential emails regularly slip through the cracks. And if you’re being honest, many action items on your to-do list are overlooked or ignored.

    2. You struggle with scheduling

    Are you double-booking yourself? Is work spilling into your personal time? Those are some of the biggest red flags your calendar needs attention. And if you travel, you spend time booking flights, hotels, transfers, meetings and itineraries. You may not consider these tasks a big deal, but look closely, and you’ll see how if one thing changes — something always changes — you’re stuck dealing with a cascade effect of more booking adjustments.

    3. Your key partners or business relationships aren’t feeling the love

    You aren’t maintaining professional relationships if you’re bogged down with day-to-day tasks. And if your colleagues aren’t top of mind for you, it’s unlikely you’re top of mind for them. What is this dynamic costing you? When people hear of work your company would be an excellent fit for, they don’t think to tell you, so the opportunity goes elsewhere.

    4. You’re a de facto project manager

    So, the new project was your brilliant idea. You’re 100% invested in it. But when you sign on to manage it, you’re outside of your zone of genius many hours of the week. And if the project is months long, the compound effect of misplaced focus can be hard to overcome.

    Related: 4 Steps to Prepare to Grow Your Business With Virtual Assistants

    5. You’re becoming a marketing assistant

    As the primary face and voice of the company, you care about your messaging. Creating slide decks and social media posts and maintaining a running list of website updates isn’t a big deal. Why bother delegating public-facing work when the stakes are high and communicating what to communicate is nuanced and tricky? Because you become the primary marketing assistant many hours a week to keep up with the demand.

    6. Your expense management is a drain

    Check out the state of your accounts receivables and payables. Are late invoices and missed bill payments becoming a repetitive problem? That’s a stressful situation turned standard operating procedure. The strain will show in all aspects of your business. I also see many executives habitually put off expense tracking. Many people never submit expense reports, which blows me away!

    Executive or virtual assistants perform much more diverse functions than most people realize. Many do far more than just free up time for the CEO. Skilled assistants can significantly increase your capacity and allow anyone with a high volume of repeatable or administrative work to invest their time better.

    Besides staying on top of email, calendar, travel and expense reports, assistants often manage social media calendars, source job candidates, create onboarding materials, generate financial reports, and handle invoicing, accounts receivable and bookkeeping. Their diverse functions improve not just executive output but also that of the marketing, HR and finance teams.

    Now, a word of caution: Hiring an executive assistant with years of experience, the competencies you need and a work style that matches yours takes time and discipline. Once you find someone, you’ll need to onboard them properly, even if they are perfect.

    Related: 17 Questions to Ask When Interviewing a Potential Virtual Assistant

    If you wait until you’re desperate to bring one on, it’s easy to shortcut the attention onboarding requires because you’re simply “too busy” to do it right. Although the right assistant could dynamically change the way you work (for the good!), if there’s no way you can make time or if your work is highly technical, a virtual or executive assistant could be an expense you don’t need to accrue.

    Still, if any of the six warning signs are familiar, consider leaping and hiring. And unless you can solve the capacity problem cheaply by reducing your workload or working longer hours — it’s not a sustainable solution for most people — I suggest you don’t let money be a reason not to hire. As one of my clients says, “I have an executive assistant to ensure I am invested in those things that are the highest, best use of my time.”

    If you’re all in as the boss, do yourself a favor. Make sure what you do daily is near and dear to your heart. Invest in an executive assistant, and you’ll find out that the more effectively you work, the more you can concentrate on the aspects of your business — and life! — that count.

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    David Nilssen

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  • Citizens to launch 30 new products | Bank Automation News

    Citizens to launch 30 new products | Bank Automation News

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    Citizens Bank expects to roll out 30 projects in the next nine months as it ramps up generative AI, automation and virtual assistant offerings.   By the second quarter of 2024, the $222 billion, Providence, R.I.-based bank expects to introduce those projects as part of its investment in its commercial banking platform, Jo Wyper, executive […]

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    Vaidik Trivedi

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  • Truist tech expenses jump to $237M | Bank Automation News

    Truist tech expenses jump to $237M | Bank Automation News

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    Truist Financial invested heavily in technology and related professional services in the second quarter of 2023 as rising expenses overshadowed income growth.  Truist’s software expense rose 10.7% quarter over quarter to $237 million from $214 million, according to the bank’s earnings supplement. This hike was accompanied by a 12.7% QoQ growth in professional fees and outside […]

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    Victor Swezey

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  • How to Be a Virtual Assistant and Make 6 Figures | Entrepreneur

    How to Be a Virtual Assistant and Make 6 Figures | Entrepreneur

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    This article originally appeared on Business Insider.

    This as-told-to essay is based on a conversation with Hannah Dixon, a 35-year-old founder of the virtual assistant training resource Digital Nomad Kit, from Guanajuato, Mexico about her advice for becoming a six-figure virtual assistant. It’s been edited for length and clarity.

    Becoming a successful virtual assistant — or VA — requires more than a laptop and a dream. In fact, I don’t think this career is for just anyone. It’s a career that calls into question the traditional way of working.

    In my years as a VA myself, I juggled a multitude of admin, tech, and creative tasks for clients all over the globe. It wasn’t always easy, but it got easier in time with mentorship and unwavering motivation to achieve a lifestyle that afforded me flexibility and freedom.

    After living and working in 58 countries and creating six-figure income years, members of an online community I led started asking me how they too could see success as virtual assistants. Through this, I was not only able to create a sustainable and rewarding career for myself but found a passion for helping others navigate the same path.

    Here are five steps I recommend every aspiring VA take to pave the way to six-figure success:

    1. Overcome imposter syndrome to develop an entrepreneurial mindset

    As a virtual assistant, you’re not an employee, you’re a business owner — and it’s essential to embrace this shift in perspective.

    This can stir up feelings of imposter syndrome, but this is a call to strengthen your self-trust. Develop confidence in your abilities through learning, applying what you learn, and remembering that you’re offering valuable services.

    Take time to understand your working style, strengths, and weaknesses, and not letting fears — like a fear of failure, or even fear of success — hold you back from doing. Moving forward with “imperfect action” is better than standing still.

    Someone recently told me they’d applied for over 50 traditional jobs and had no responses, then said that they wanted a job for “security.” Being a VA is no less secure than a traditional job, and you have so much more space in terms of who you work with, how you work with them, and what types of tasks you do.

    2. Specialize and design your service stack to command higher rates

    When breaking into this space, many people try to be everything to everyone, which often leads to engaging no one. The scope of what a VA can offer is broad, and it can be beneficial to specialize — if not right out the gate, then over time.

    I’ve seen VAs go from doing okay to creating six-figure incomes once they committed to a niche, and this was my experience as well. There’s nothing wrong with having a range of proficiencies in your back pocket, but how you market yourself in terms of your core niche plays a big role in the rates that you can command.

    If a client wants to grow their email list and run an email marketing campaign, would they hire a general VA or one who specializes in email marketing and is proficient in email marketing software? Clients will pay a premium for that peace of mind and not needing to give you lessons in speaking their language.

    When figuring out how to specialize your services, I recommend having a go-to “service stack.” These are the few (up to five) complementary services you’re well-versed in and can lead with. You’ll likely offer more services once you start working with clients, but having a small handful of areas identified from the get-go will keep you at the top of potential clients’ minds for these particular strengths.

    You can also choose to niche by the types of people and organizations you work with, such as by industry and/or values; for example, choosing to work with health and wellness professionals, or with people who are passionate about elevating voices of oppressed groups, regardless of industry.

    3. Create a strong first impression with a killer online portfolio

    Your online presence is your first impression as a VA, and it’s something your potential clients are going to heavily take into account. While you can’t shake hands, you can showcase your skills and professionalism in unique and fun ways.

    In the VA space it’s unusual to be asked for a resume, or even formal education. Often a compelling online portfolio and a robust online presence can speak much louder. This low barrier to entry makes it an ideal pathway to working online.

    The easiest way to build an online portfolio as a new VA when you have little to no previous experience is to be the portfolio. For example, want to offer writing services as part of your service stack? Building a portfolio of writing examples can be as simple as starting your own blog or newsletter. Your social media posts and captions are equally relevant with the added bonus that potential clients can easily see that you’re producing quality writing on a consistent basis. If it gets good engagement, that’s a cherry on top.

    You can get creative with how you showcase your skills and be authentic in how you represent yourself and your work in your portfolio. People work with people, and your creative approaches to your overall online presence will be a feather in your cap as a soft skill that clients will appreciate.

    As you grow your VA business, use your journey as evidence of your abilities. Every step you take in building your business can become part of your portfolio.

    4. Do VA-specific networking

    It’s not enough to set up a profile on gig sites and wait for clients to come to you. In my VA training programs, I actively advocate against these as a go-to due to their reputation for steeply undervaluing the skilled work of VAs. successful VAs understand the power of networking, as building strong relationships within your industry can lead to valuable opportunities and referrals.

    Join online communities, attend relevant events (which can be virtual), seek mentorship, and don’t underestimate the power of connecting with other VAs. In the VA world, your peers aren’t your competition; they’re a supportive network of individuals who understand your journey. If you’re not willing to support others, you can’t reasonably expect a big turnout for your own efforts.

    In fact, testament to the power of networking over the years: in my training program, I’m still sharing exclusive jobs from clients, who to this day come to me for VA services. My reputation has expanded over the years through the meaningful networking I’ve nurtured since day one. Another advantage is sharing high-paying job opportunities.

    5. Be an “innovator” VA, not just an “executor” VA

    The difference between a hobbyist VA and a six-figure earning VA often comes down to the client experience they provide. I always say there are the “executor” VAs who simply complete tasks, and there are “innovator” VAs who set themselves apart by becoming an integral part of their client’s business. The latter are the ones who become high earners.

    The number-one thing that contributed to my, and my learners’, six-figure success was providing a quality client experience. You want your clients coming back for more, signing longer agreements, upping your pay, and referring you out. This virtuous cycle starts with how you make them feel.

    Delivering a VIP client experience comes down to the small details, such as investing time to understand your clients’ businesses, goals, challenges, and unique personalities; communicating effectively; and always striving to exceed their expectations.

    You can boost client experience by making things easier for them. Simplify your interactions and requests from clients at every opportunity, for example, by making it easy for clients to pay you and ensuring they don’t have to jump through hoops.

    Look for opportunities to dazzle and delight! I had a client who loved Shakespeare, so I used a translation website to turn my end of the week reports into Shakespearean English and she was over the moon. Taking a moment to do something special in celebration of a victory or significant date can go a long way too. It doesn’t have to be an expensive gift, but bonus points if it’s something they need or something that reflects their personality and makes them say, “They really get me.

    Strive to exceed expectations doesn’t mean working overtime — it does mean using a high level of awareness to start anticipating a client’s needs. Be the VA that when asked for something, you’re able to say “already done!” because you just knew it was going to be a thing.

    It’s this level of commitment and service that can elevate you to becoming an indispensable asset to your clients and allow you to not only grow your income independently, but also raise your rates in your longer-term contracts too. Even if it’s your first client on a small project, treat them exceptionally well.

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    Robin Madell

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  • Watch Out for These Red Flags When Hiring a Virtual Assistant | Entrepreneur

    Watch Out for These Red Flags When Hiring a Virtual Assistant | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Finding the perfect virtual assistant can be a challenge. You want to make sure you hire someone who is reliable, efficient and experienced. However, there are some red flags you should be on the lookout for when hiring, as I understand all too well having worked remotely in the hiring business for almost 20 years.

    Knowing what to look for can help you avoid onboarding someone who isn’t the right fit for your business. Below are the most common red flags I have encountered during the hiring process when looking to onboard a virtual assistant (VA).

    Related: 3 Signs That You Need a Virtual Assistant — And What Type to Hire

    Lack of communication skills

    As a virtual assistant, this person will most likely spend the majority of their time communicating with you via digital messages, so if they are not clear up front, they are most likely not a good fit for your team. Additionally, if you ask a direct question such as, “How long have you managed x, y and z?” and they respond with something that does not make sense like, “Yes, you should use that software,” then that can show a lack of attention to detail and understanding, both of which are very important skills to possess as a VA.

    If your job candidate passes this first step, they should move on to an interview. This may be a video call or over the phone. Again, ask very direct questions that demonstrate a candidate’s knowledge and communication skills. For example, if your company uses certain software and your VA is required to be familiar with it, ask them a very specific question about how the software works — also ask them if an imaginary emergency scenario occurs, how would they fix that, taking you through the process step by step. Their answer will demonstrate their expertise and it will give you a chance to see if they can explain a complex process in simple terms.

    Unprofessionalism

    While this may seem obvious, there are some subtle signs that someone is unprofessional which can later translate into how they work. This is especially important to notice if you are working with a remote team. One clear sign of unprofessionalism is if the person appears to be working during the interview. It is always important to clarify if they are just taking notes, but if they seem distracted and are typing while looking off-camera, this is a good sign they are not paying attention. If they are unable to dedicate a few minutes to an interview, they will most likely not have time to fully dedicate to your organization.

    Another red flag is when someone shows up to an interview unprepared. The easiest way to spot this is if you ask the candidate to complete a task before the interview — such as reviewing your website or some company literature — and they show up to the interview having not done that at all. Some subtle signs appear if you ask them particulars about the job description and notice that they seem surprised or are unable to answer questions related to the job description.

    Related: The Virtual Assistant: A Startup’s Secret Weapon

    Inability to follow instructions

    This is an easy red flag to spot and ties into the communication and unprofessionalism examples given above. If you ask the candidate to complete a task and they do not do it or they do it wrong, this is not a good sign. Of course, everyone is human and makes mistakes. Second chances are always important on both sides. However, if the candidate continues to turn in subpar work that does not follow your company’s standard operating procedures, then that candidate may not be a good fit for obvious reasons.

    A virtual assistant must be able to read instructions and be able to follow through with them. While a person may have good communication skills and appear to be very professional, they still may not be able to follow directions in the manner which your company provides them. It is best to find this out ahead of time by offering a short test project to the most qualified candidates.

    Not asking questions

    If a virtual assistant candidate does not ask questions, this could be of concern. Most people will have questions about their roles and tasks at some point and time. The person that works with your company should feel comfortable asking questions. If not, they may do their tasks incorrectly and cause more problems down the line.

    While there are tips out there urging job candidates to ask questions in interviews, that is not overly important. Sometimes, companies do such a fantastic job explaining the position that candidates may not have anything to ask immediately. What is more important is that the person is able to ask questions when given directions. If something does not make sense, they should feel comfortable reaching out. Once more, giving candidates test projects or tasks before fully hiring them is a great way to see if they will ask questions and how they work with you on projects.

    Related: Should You Hire a Virtual Assistant?

    By keeping an eye out for these red flags, you should be able to better define your job candidate search to find the candidate that works best with your company.

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    Lesley Pyle

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  • Guide to Making Extra Money as a Virtual Assistant | Entrepreneur

    Guide to Making Extra Money as a Virtual Assistant | Entrepreneur

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    The virtual assistant industry is booming. More and more busy entrepreneurs and executives are turning to remote assistants to help them with time-consuming tasks ranging from research to booking travel to project management.

    In a recent survey conducted by the Association of Virtual Assistants, 93 percent of respondents said they “enjoyed the freedom and flexibility” working as VAs and in terms of monthly income, 33 percent reported making between $2,001 and $5,000 per month and 11 percent made more than $5,000.

    Related: Best-Selling Books for Entrepreneurs

    If you have specialized skills and/or experience in an area (think writing, accounting, social media marketing, web design — anything) you could put those sought-after abilities to work and earn extra money with a virtual assistant side hustle or full-time business.

    To help get you on your way, business expert Jason R. Rich and the staff of Entrepreneur Media have written the new book, Start Your Own Virtual Assistant Business, which outlines every step you need to launch and grow your business.

    • Providing insider advice, tips, and tricks, this book will teach you how to:
    • Target the niche that matches your skill set
    • Equip yourself with powerful digital tools
    • Set competitive fees for your services
    • Efficiently manage multiple clients and projects
    • Use effective marketing and advertising tools to get the word out about your services
    • Build positive customer and vendor relationships

    Click cover to order

    Being a virtual assistant offers independence. You can be your own boss, control your own schedule, and work from home. Once you’re in demand, you’ll likely be able to pick and choose your clients. Plus, it’s easy to get started: The startup costs are very low, and for the most part, no special licenses or degrees are required.

    If you are ready to put your skills to work, Start Your Own Virtual Assistant Business, is the all-in-one guide to getting up and running.

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    Entrepreneur Staff

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  • 3 Signs That You Need a Virtual Assistant | Entrepreneur

    3 Signs That You Need a Virtual Assistant | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    According to Gallup, 45% of entrepreneurs report being stressed out, which makes perfect sense: Being the chief decision-maker and doing everything in a business gets overwhelming and frustrating, even when someone is passionate about what they do. In response, one of the most pivotal moves is taking on a personal virtual assistant — a person typically brought on via contract (rather than a traditional employee), providing both flexibility and enhanced options for getting things off your plate.

    Virtual assistants handle a broad range of tasks, including emailing newsletters, social media scheduling, calendar management, research, data entry, proofreading, landing page creation and much more. And there are reliable signs that you need one. Most people wait too long, then find themselves rushing through the hiring process, which makes disappointment far more likely.

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    Laura Briggs

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  • How to Make Money As a Virtual Assistant

    How to Make Money As a Virtual Assistant

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    In the new book How to Start Your Own Virtual Assistant Business, author Jason R. Rich and the staff of Entrepreneur have outlined everything you need to know to launch a lucrative side hustle or full-time business. In the following excerpt, Rich breaks down the basics of why this is the ideal time to use your skills and experience to create a new revenue stream.

    Why be a virtual assistant now?

    While virtual assistants have been around as long as the internet, these positions are now more diverse in terms of their responsibilities and more widely accepted than ever. In 2021 and beyond, working as a virtual assistant (or VA) can be an incredibly prosperous career path.

    Every day, clients hire virtual assistants to complete a broad range of both common and highly specialized tasks. If you have specialized skills and/or experience in writing, bookkeeping/accounting, social media marketing, web design, travel planning/coordination, telemarketing, executive administration, data entry, booking appointments/scheduling, project management, database management, or research, for example, you can earn a higher-income than a VA who handles more general or administrative tasks for clients. As a virtual assistant, set yourself apart from your competition by developing a niche.

    Related: How to Start Your Own Virtual Assistant Business on sale now

    Cindy Opong, the founder of Creative Assistants, explains her business, “In my opinion, the role of a virtual assistant is to support and, in some cases, run the back end of a client’s business, so they can focus their time and effort on what they’re really good at. I personally specialize in working with [former] top-level executives with corporations who are now starting or running their own consulting businesses. These people were used to having an executive assistant in the corporate space, and many don’t know how to handle core tasks that an executive assistant would typically handle. I come in and I take up that role remotely for them.”

    How much can you make as a virtual assistant?

    In 2020, the Association of Virtual Assistants conducted a survey of more than 500 working virtual assistants for its VA State of the Industry Report. In the survey, 93 percent of respondents said they “enjoy[ed] freedom and flexibility” working as VAs.

    The report also found that 38 percent of respondents worked 20 to 30 hours per week, while 26 percent said they worked more than 40 hours, 24 percent worked 10 to 20 hours, and 11 percent worked 1 to 10 hours.

    When it came to hourly rates, the report stated that 58 percent of virtual assistants earn $26 to $50 per hour, 23 percent earn $10 to $25 per hour, 18 percent earn $51 to $100 per hour, and just 1 percent earn more than $100 per hour.

    In terms of monthly income, 33 percent reported making between $2,001 and $5,000 per month, 26 percent made between $1,001 and $2,000, 16 percent made between $0 and $500, 14 percent made between $551 and $1,000, and 11 percent made more than $5,000.

    Related: Check out what the Entrepreneur Bookstore’s discount section

    What you’ll need

    One of the biggest benefits of being a virtual assistant is that your location rarely matters to your clients, as long as you’re accessible during their business hours and finish your work on time. However, some clients do prefer VAs who live and work in their time zone, even though they may never meet in person. Working as an independent contractor from your home office makes you your own boss. You set your rates, determine the number of hours you’re willing to work each week and create your daily schedule. As a business operator, you’re also in charge of:

    • Finding and managing your clients
    • Marketing and promoting your business (online and in the real world) P Handling the bookkeeping and accounting
    • Billing (and collecting on overdue invoices)
    • Keeping your skill set up-to-date
    • Meeting your deadlines

    How do you get started?

    Pick up How to Start Your Own Virtual Assistant Business available now for a fully-detailed guide to setting up your business, finding customers, and turning your expertise into a new revenue stream.

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    Entrepreneur Staff

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