Opportunity Alert: The Executive’s Executive

Are you especially good at keeping things organized? Don’t mind spending your days running errands, hunting down birthday gifts, shopping, grooming pets or chauffeuring executives about town? Well, you’re in luck. Demand for these services is growing rapidly as more executives, mid-level managers, professionals and two-income families find themselves in need of an extra pair of hands to help balance their busy home and work lives.

The executive/personal assistance field includes chauffeurs, personal assistants, executive assistants, personal chefs, pet sitters and groomers, concierges and other service providers, each with a unique offering designed to reduce the number of tasks, and the time it takes their clients to complete those tasks. Business models vary, but most offer their services as a bundled service offering for a flat fee (10 errands for $2,500), an hourly rate for all services or a combination of flat-rates an hourly rates.

The field is wide open right now–with every Jim, John and Jalisa hanging a shingle–because of the low barriers to entry. You don’t need a certain level of education or office space or any special equipment to become an executive/personal assistant. Though, it does help to be a good communicator, to be able to type and write business memos, to be organized and responsive and to be skilled in whatever service you plan to provide, i.e. if you’re offering grooming services, you should actually have experience in pet grooming.

But, the real key to taking advantage of this opportunity will be PROFESSIONALISM. Sounds simple enough, right? Well, let me expand on this. Executive or personal assistants work very closely with their clients. They have access to their clients’ homes, families, personal information, emails, medical prescriptions, employees and clients, and workplaces. Some will even be given keys to their clients homes or asked to pick up their children from school.

As you might imagine, this requires a relationship built on trust. Since most potential clients don’t have time to get to know you personally prior to hiring you, they will likely seek referrals and recommendations, and in lieu of those, background checks and other assurances that you are not a criminal or opportunist using this low-cost business opportunity to run a cheap scam or hustle. You must ask yourself what you would want to know or see or hear in order to allow someone you don’t know to have access to the most important things in your life. What would assure you that you’d made the right selection?

So, what opportunities are available to you?

As above, the executive/personal assistance field includes:

Personal Assistants - Individuals or firms that provide services that range from house-sitting, vacation mail pickup and plant watering, running errands (picking up dry-cleaning, dropping off packages, shopping for groceries or birthday gifts), pet-sitting and waiting for repairmen. Personal assistants typically earn $30,000-$40,000 per year.

Executive Assistants - Individuals or firms that provide services including answering phones, checking/replying to emails, managing calendars, making travel arrangements, writing business memos and running errands for the client. Executive Assistants earn more because they are usually more experienced and skilled. The average salary for full-time executive assistants is $49,000, but experienced executive assistants working for top executives earn as much as $80,000 per year.

Personal Chef - See Opportunity Alert: Food Careers Are Piping Hot!

Chauffeurs - Professional chauffeurs do more than simply drive their clients around; many now double as personal assistants running errands, managing calendars and handling email for their clients. Chauffeurs may be independent contractors operating alone, or they may be employees or sub-contractors of car/limousine service firms. You may or may not need your own car. Some clients just want someone to drive their cars. Chauffeurs typically earn as much as $45,000 per year, plus OT.

Stylist/Personal Shoppers - Also known as image consultants. Individuals who coordinate outfits, update wardrobes (and overall appearances), handle alterations, secure the services of hair stylists, makeup artists and other beauty services providers, and, most tantalizing of all, shop on behalf of clients! Stylist/image consultants earn as much as $3,000 per season.

Pet Care Providers - Pet-sitters are individuals that feed, walk, play with and otherwise care for clients’ pets while they are away at work or on vacation. Pet-sitters usually provide other services such as gathering clients mail, watering plants or letting in other contractors in the clients’ absence. Pet-sitters charge as little as $10 per visit to clean litter boxes or walk dogs, and much more to care for ailing pets (taking them to the vet, administering medicine and cleaning up after them). Pet groomers are experienced technicians who bathe and groom animals. They typically earn between $40 and $80 per hour. Groomers may be mobile or work from an office location. Mobile groomers earn more, $20-$30 more per hour than office-based groomers.

Concierges - Individuals or firms that run errands, order tickets, deliver laundry, send gifts on your behalf, identify childcare providers and making reservations. Concierge service providers typically work with employee assistance program providers or directly with clients’ HR departments; they do not usually work directly for a client, but that doesn’t mean you can’t. Concierges typically work remotely–via phone or online–and earn as much as $4000 per client for a set number of tasks/requests.

JOBS IN THE PERSONAL/EXECUTIVE ASSISTANCE FIELD:

Want to start your own business in this field? Here are tips that’ll help.

KEYS TO CAPITALIZING ON THE PERSONAL/EXECUTIVE ASSISTANCE OPPORTUNITY
1. Define your services:

What can you do (based on your knowledge, skills and experience)?
What will you do?
What won’t you do?
Are your services only available within a certain area, city or town?
Are your services only available on certain days or between certain hours?

2. Define your business model:

Will you be an independent contractor working for a single client or will you be an employee of the executive, his/her company or an executive/personal assistance firm?
Will you be working for multiple clients, or work exclusively for a single client?
Will you work full-time or part-time?
Will you require an annual salary or retainer, or will you bill them and be paid hourly?
Will you charge a per-task fee?
How will you attract, identify and approach potential clients (ads, referrals, networking, partnering with another provider)?

3. Define your processes and procedures:

How will you provide these services–online or via phone, in person, from your office or theirs?
How will you manage multiple clients? Will you need a staff or partner, or a temp helper?
What will your client intake/setup process include–meetings, forms, security protocols, etc.? Remember! This is your opportunity to assure your client that you are a trustworthy, capable and professional executive/personal assistant.
Establish a security protocol, or some way to protect your clients’ personal information, keys, etc., and of ensuring that any staff or sub-contractors you may hire are up-standing.

4. Set your prices:

Pricing should be competitive with other similar providers, but they don’t have to be the same. You should be able to point out the distinguishing feature(s) of your service(s) if you intend to charge substantially more.
Reconsider your decision to charge a flat-fee, hourly rate, annual salary or a per-task charge in light of the services you intend to provide and the business model you’ve decided upon.
Create a price list that your customers can view. One of the worst things you can do is make your prices a mystery. Customers are turned off by “Call for prices” when they really want hard numbers. You end up losing potential customers who assume that you are too expensive. Establish pricing that allows you to profitably provide your services. Share your price list with potential clients.

5. Dig for clients in fertile ground:

Advertise with professional associations and networking groups, i.e. National Association of Female Executives (NAFE), MBA and medical associations.
Advertise in publications devoted to working mothers or working parents, and to those devoted to HR professionals (they make many of the decisions regarding these types of services).
Network with HR and benefits professionals.

Want more information?

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