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Sunday, 3 July 2011

I Have Just Hired My First Virtual Assistant For My Webanswers Project

I have gone and taken the plunge to hire a Virtual Assistant. Anyone who follows my blog will know that I want to create a stream of residual income to pay off my monthly mortgage of £430 per month. Paying the mortgage is such a burden and if I can create a passive stream of income I can really make money from time. Anyone who follows this blog will know that I am a fan of Webanswers and in my first full month with 390 answers was able to earn £32 in the month of June. I wanted to take the experience to the next level and I have hired a virtual assistant to really accelerate my answering capabilities on Webanswers




The Virtual Assistant that I have hired is Mohammed Adil who is based in Pakistan. I have created a contract with him whereby I will pay him £100 or $166 to answer 1000 questions in the month of July. I really hope that with all the questions that I have answered and the ones Mohammed will answer I will be able to earn £100 in July. Here is Mohammed's profile which clearly shows that he is a very capable individual. Mohammed has also been employed previously and received good feedback.




My virtual assistants expertise include the following;


- Accounting
- Tax
- Finance
- Forex


These subjects have the highest paying adwords which I am really pleased about. The way I see it is I am not a expert at these topics and the time it would take me to answer 10 questions through thorough research Mohammed can probably answer 30. I have provided my VA with a strict criteria on how to answer the questions which include the following.


- The Answers must be comprehensive and between 150 to 250 words.
- The Answers have to add value and must not be copied or spun.
- All the content will be checked to see if it is copied.
- 33 Questions must be answered each day and emailed to me.
- If the quality of the answers are good then he will receive more contracts worth even more money.


Mohammed is really eager to start and I have emailed over his Task 001 which has 33 questions on them all of which are accounting related. I chose the questions based on the following criteria. The strategy was given to me by a fellow Infobarrel contributor X3xsoldiweX3X who came up with the idea. I have also added a few other things to the strategy and it is a work in progress.


- The questions must have a lot of views and the amount of views must not exceed the amount of days it has been posted. So if a question has had 2000 views and has been posted 1999 days ago this means that I will generate at least one view per day providing there are no other answers.


- The question must not have too many answers. Most of the revenue is generated from unanswered questions however if there is too many answers the revenue is shared so you don't really earn that much.
It is better to answer a question that has been posted 50 days ago with 100 views and 1 answer compared to a question which has been posted 50 days ago with 1000 views and 12 answers.


- All the questions that I pick will have a relatively high CPC meaning that when I do get a click it will be worthwhile. Many successful experts on Webanswers such as IMHO and SlipFallGuy have stated that answering questions in specialist areas really increase the revenue that you can generate.


- Every answer will be personally edited and checked to see if it passes for a good answer. I will edit and then provide my VA with the feedback so that they do not make the same error again. If I can work well and in harmony with my VA I know that I can make a profit margin here.




I have really high expectation for this project and I really think that my Virtual Assistant is good enough to answer 33 questions per day. If he can complete the contract then I will have 1400 answers under my belt. If I earned £32 per month from 390 answers then with 1400 I can expect to make £120 per month. I will be really conservative and hope that I at least earn £60 per month and achieve the minimum payout. Many people might think what is the point of paying someone £100 if you make a return of £60? Well with passive income I can hopefully expect to make £60 per month continually which means in a year I will make £720 which is over 500% return on investment.






If this project really takes off and I have high hopes for this as I believe in the site, the strategy and the VA then I can see myself doing this on a continuous basis. You might be asking what I will be doing if I have hired someone to answer all the questions and the answer is I will be doing the following.


- Developing my Cold Sore Remedies Niche Site.
- Supercharging my Infobarrel Articles through spinning and reposting.
- Backlinking my niche site and articles.


I really hope I can achieve at least another £100 in the month of July as Xomba has really been disappointing for me as they blocked my account without an explanation. I really look forward to reporting on my success or failure and any income that I do make. I always post my earnings so please bookmark my blog so you can drop by from time to time.


I always like to end my posts with words of wisdom that capture the mood of what I am trying to get across or learn so here goes.


If you deprive yourself of outsourcing and your competitors do not, you're putting yourself out of business - Lee Kuan Yew





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