As a virtual assistant (VA), regularly evaluating your business helps you identify what’s working, what needs improvement, and where you can grow. A business audit allows you to review your services, pricing, client relationships, finances, and marketing efforts to ensure you’re on track for success.
Without an audit, you might stay stuck at the same income level, miss opportunities, or waste time on low-value tasks.
In this guide, you’ll learn how to conduct a step-by-step business audit to improve your VA business and increase profits.
1. Evaluate Your Current Services & Offerings
Your services should align with your strengths, client demand, and profitability.
List all the services you currently offer. Identify which ones bring the most income vs. which take too much time. Check if your skills are still relevant or need upgrading.
Example Service Audit:
| Service | Time Spent | Income Generated | Keep or Adjust? |
|---|---|---|---|
| Inbox Management | 10 hrs/week | $500/month | Keep |
| Social Media | 15 hrs/week | $400/month | Adjust pricing |
| Blog Writing | 8 hrs/week | $250/month | Remove |
Tip: Eliminate low-value services and focus on high-demand, high-paying skills.
2. Review Your Pricing & Income Goals
If your rates haven’t increased in over a year, you might be undercharging.
Compare your prices to industry standards. Check if your income aligns with your financial goals. Adjust pricing based on experience, demand, and workload.
Example Pricing Adjustments:
- Current rate: $25/hour → New rate: $40/hour (based on expertise & demand).
- Shift from hourly rates → to retainer packages for stable income.
Tip: High-income VAs charge based on value, not just hours worked.
3. Assess Your Client Relationships & Workload
Not all clients are the right fit—some may drain your time and energy.
Identify which clients bring the most income and value. Assess who requires too much effort for too little pay. Decide whether to increase rates, set boundaries, or let go of difficult clients.
Example Client Review:
| Client | Monthly Revenue | Time Spent | Keep or Adjust? |
|---|---|---|---|
| Client A | $1,500 | 20 hrs | Keep |
| Client B | $400 | 15 hrs | Replace |
| Client C | $800 | 10 hrs | Raise rates |
Tip: Let go of low-paying, high-stress clients and focus on high-value partnerships.
4. Analyze Your Marketing & Lead Generation Strategy
If you struggle to find new clients, your marketing might need improvement.
Where do most of your clients come from? (LinkedIn, referrals, job boards?) What marketing efforts are working vs. not working? Do you need to update your website, LinkedIn, or portfolio?
Example Marketing Audit:
- Getting leads from referrals? → Set up a referral program.
- Not seeing results on Instagram? → Shift focus to LinkedIn networking.
- Website outdated? → Improve service descriptions and testimonials.
Tip: Track where your best clients come from and focus on those platforms.
5. Check Your Time Management & Productivity
If you always feel overworked or behind schedule, it’s time to optimize your workflow.
Review how much time you spend on different tasks. Eliminate unnecessary meetings, distractions, or repetitive work. Use automation tools (Zapier, Trello, ClickUp) to streamline processes.
Example Productivity Improvements:
- Spending too much time on email? → Set up email templates & automation.
- Too many distractions? → Use the Pomodoro technique for focused work.
- Manually tracking invoices? → Automate billing with FreshBooks or PayPal.
Tip: Work smarter, not harder by using productivity tools and automation.
6. Review Your Finances & Expenses
Are you earning enough profit after expenses? Tracking your finances ensures business stability.
Analyze income vs. expenses for the past 6 months. Identify unnecessary subscriptions or costs. Set aside savings for taxes, emergency funds, and business growth.
Example Financial Review:
| Expense | Monthly Cost | Necessary? |
|---|---|---|
| Canva Pro | $12 |  Keep |
| Extra software | $50 |  Cancel |
| Marketing Ads | $100 | Adjust strategy |
Tip: Cut unnecessary costs and reinvest in tools or courses that help grow your business.
7. Upgrade Your Skills to Stay Competitive
The VA industry evolves fast—upgrading your skills helps you charge more and stay in demand.
Take courses on in-demand skills (automation, AI, bookkeeping). Learn new tools (Zapier, Notion, Dubsado). Get certifications to build credibility.
Example Skills to Learn for Higher Pay:
- AI Tools (ChatGPT, Jasper) → Automate workflows.
- Social Media Ads → Manage ad campaigns.
- Project Management Software (ClickUp, Trello) → Work with larger clients.
Tip: Clients pay more for specialized expertise vs. general admin tasks.
8. Set New Business Goals for Growth
Based on your audit, set SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals.
Income Goal: Earn $5,000/month within 6 months. Client Goal: Replace 2 low-paying clients with high-paying ones. Marketing Goal: Post weekly LinkedIn content to attract leads. Skill Goal: Complete an advanced automation course within 3 months.
Tip: Break big goals into smaller weekly and monthly action steps.
9. Create an Action Plan to Implement Changes
Your audit only works if you take action.
Choose 3 key areas to improve immediately. Set deadlines for pricing updates, skill learning, and marketing strategies. Track progress monthly to stay accountable.
Example 30-Day Action Plan:
| Week | Task |
|---|---|
| Week 1 | Update service pricing & eliminate low-paying clients |
| Week 2 | Improve website & LinkedIn profile |
| Week 3 | Start new skill course (automation, AI, marketing) |
| Week 4 | Launch a new marketing strategy (referrals, content, networking) |
Tip: Small improvements compound into big business growth over time.
Final Thoughts
Conducting a business audit ensures that you’re growing, not just working hard. By optimizing services, pricing, marketing, and finances, you can increase income, improve efficiency, and attract better clients.
Evaluate your services & pricing for profitability Improve client relationships & let go of low-value work Optimize marketing to attract high-paying clients Upgrade your skills to stay competitive in the VA industry Set new business goals & create an action plan for growth
Next Steps:
Schedule your business audit this week—choose one area to improve and take action! 