Who Becomes a Virtual Assistant
The demographics of virtual assistants reflect both opportunity and experience. Studies show that a significant proportion of VAs are women, accounting for nearly 87.6 percent of the workforce. This trend could be attributed to the flexibility and remote nature of the role, making it appealing to those balancing other responsibilities. Additionally, over half of the professionals in this field are over 40 years old, highlighting the role’s appeal to those seeking either a career shift or an alternative to traditional employment.
Educational backgrounds among VAs vary widely. Approximately 54 percent hold bachelor’s degrees, 22 percent have associate degrees, and about 9 percent enter the profession with just a high school diploma. What binds them together is not formal education alone, but a commitment to dependability, discretion, and efficiency.
As the workforce becomes more hybrid and decentralized, the demand for adaptable professionals who can work autonomously has soared. According to Global Workplace Analytics, remote employees are up to 40 percent more productive than their office-based peers. For businesses, this means that hiring a VA often delivers not only cost savings but also performance benefits.
Reasons to Start a Virtual Assistant Business
Becoming a virtual assistant offers a compelling list of benefits. Chief among them is flexibility. You determine your working hours, select your clients, and even choose your working location. Whether you prefer to work from home, a co-working space, or a beachside café, the decision is yours.
Another advantage is the low barrier to entry. Unlike businesses that require substantial capital, inventory, or real estate, starting as a VA typically requires only a reliable computer, internet access, and a suite of digital tools. This low-cost entry point enables professionals to test the waters without committing large financial resources.
The work itself is rarely monotonous. Depending on your skill set and the clients you work with, your daily responsibilities can change frequently. One day may involve scheduling and calendar management; another might require content editing or data analysis. This variety keeps the work engaging and intellectually stimulating.
Still, the profession is not without its drawbacks. Freelance work often means inconsistent income. You may enjoy a lucrative month followed by a period with minimal assignments. Unlike traditional jobs, VAs must secure their own benefits—health insurance, paid time off, and retirement plans are typically not provided by clients.
Working remotely also presents its own set of challenges. Without physical coworkers, feelings of isolation can arise. Moreover, managing boundaries between work and personal life requires discipline. Some VAs find it difficult to “log off,” especially when clients are in different time zones. Others may struggle to maintain productivity in home environments full of distractions.
Clarifying Your Niche and Services
Before you can begin marketing your services, it’s essential to define what you offer. The broader the spectrum of your abilities, the more potential clients you can appeal to—but it helps to begin with a clear and focused offering. Reflect on your strengths. Are you detail-oriented and great at calendar management? Do you thrive when coordinating teams and timelines? Are you an adept communicator capable of writing newsletters and social media posts?
Some common service categories include:
- Administrative support: calendar scheduling, inbox management, appointment booking
- Customer service: email response, FAQ handling, troubleshooting
- Content creation: writing blogs, editing documents, designing simple visuals
- Project coordination: monitoring deadlines, liaising with stakeholders
- Bookkeeping: invoicing, expense tracking, budget summaries
- Social media management: scheduling posts, managing communities, analytics
- E-commerce support: managing online stores, uploading product info, customer service
You don’t need to do it all. In fact, many successful VAs become known for a particular niche. By positioning yourself as an expert in a specific area, you enhance your credibility and become more appealing to clients with specialized needs.
Skill Assessment and Development
It’s rare to start any business fully equipped. One of the first steps after deciding to become a virtual assistant is to assess your current skill set. Write down all the tasks you know how to perform well and compare them against what is commonly expected in the VA job market. You may realize you’re already well-prepared in areas like document formatting or digital communication but need improvement in areas like data analysis or SEO basics.
Online learning platforms offer a myriad of courses for virtual assistants. From basic computer skills to advanced project management tools, there’s no shortage of educational resources. Investing time in sharpening your abilities can make you more competitive and allow you to charge higher rates. Certificates from reputable platforms can also act as trust signals for prospective clients.
Digital proficiency is crucial. Familiarity with tools like Google Workspace, Microsoft Office, Asana, Trello, Slack, and CRM platforms can greatly enhance your efficiency and appeal. Some clients may even require familiarity with specific industry software, such as HubSpot for marketing teams or QuickBooks for finance-related tasks.
Building a Digital Presence
In the virtual world, your online footprint acts as your calling card. A professional website or portfolio is essential for showcasing your services, testimonials, and work samples. Your homepage should clearly state who you are, what you offer, and who you help. Incorporate a call-to-action that encourages potential clients to reach out.
LinkedIn is another invaluable platform for virtual assistants. Optimizing your profile with keywords like “remote support specialist,” “virtual project coordinator,” or “executive assistant” can help you show up in recruiter searches. Additionally, sharing content related to your niche can boost your visibility and position you as a thought leader.
Other social platforms like Instagram, Facebook, and even TikTok can be effective if your services align with visually driven industries. Platforms like Pinterest are particularly helpful for VAs focusing on design, crafts, or e-commerce.
Networking and Outreach
Client acquisition doesn’t happen in isolation. Joining online communities dedicated to freelancers and virtual assistants can open doors to job leads, collaborations, and professional advice. Facebook groups, LinkedIn communities, and even platforms like Reddit offer spaces for VAs to share resources and post opportunities.
Email outreach remains an underrated but powerful tactic. Identify businesses or entrepreneurs who could benefit from your services. Craft personalized emails that highlight how you can solve their specific problems. Be concise, respectful, and clear about your value proposition.
Don’t underestimate the power of existing connections. Let your network know that you’re launching a VA business. Friends, family, and former colleagues may become your first clients or refer you to others in need of support.
Choosing Your Business Structure
Although you can begin working as a VA in an informal capacity, registering your business can provide both legitimacy and legal protection. Depending on your location, you may choose to operate as a sole proprietor, an LLC, or another business entity. Consider consulting a legal or financial advisor to understand your options.
Alongside legal registration, you’ll want to establish a dedicated business bank account. This not only helps in keeping finances organized but also conveys professionalism to clients.
Branding also plays a role here. Develop a business name, design a logo, and create consistent visuals across your platforms. A coherent brand image makes you more memorable and signals your commitment to quality.
Tools to Streamline Your Work
Your efficiency as a virtual assistant often depends on the tools you use. While it’s not necessary to adopt every new software on the market, familiarizing yourself with some essentials can boost your productivity and professionalism.
Communication platforms like Slack, Zoom, and Microsoft Teams enable real-time conversations with clients. Project management tools such as Trello, Asana, or ClickUp help organize assignments and track deadlines. For time tracking and invoicing, apps like Toggl and Harvest are user-friendly and efficient.
Cloud storage services like Google Drive and Dropbox allow for seamless file sharing. Password managers like LastPass can simplify login management when clients need you to access their tools. Finally, automation platforms such as Zapier can link apps together, helping you automate repetitive tasks. Being well-versed in these tools doesn’t just improve your workflow—it also increases the likelihood of being hired by clients already embedded in those ecosystems.
Determining Your Rates and Policies
Pricing your services can be challenging. Factors like your experience, niche, and client budget all play a role. Some VAs charge hourly, while others prefer package-based or retainer pricing. Entry-level VAs might start at $15–$25 per hour, while those with specialized skills can command rates upward of $50 per hour.
Setting clear policies is equally important. Decide how you’ll handle missed meetings, late payments, and scope creep. Putting your terms in writing and using contracts for every client engagement not only protects you legally but also sets expectations from the outset.
Invoices should include itemized services, due dates, and accepted payment methods. Even when working independently, acting with professionalism builds client trust and lays the foundation for long-term relationships.
Creating a Unique Brand Identity for Your Virtual Assistant Business
Establishing a successful virtual assistant business involves more than offering services; it requires a compelling brand identity that sets you apart in a competitive digital marketplace. A strong brand not only communicates your values and expertise but also creates a memorable presence that resonates with clients. Before you begin pitching your services or bidding on projects, take time to develop a personal brand that embodies the professionalism and reliability clients expect.
Start by choosing a business name that reflects your personality and services. Avoid overly generic titles that blend into the background; instead, aim for something distinctive yet professional. Consider names that imply organization, efficiency, or your specific niche—such as creative content, executive assistance, or e-commerce support. Once your name is in place, create a consistent visual identity that includes a logo, color palette, and typography. These elements will appear across your website, proposals, invoices, and social media, reinforcing recognition and trust with every interaction.
Beyond visuals, your brand voice should reflect how you want clients to perceive you—whether warm and approachable, tech-savvy and modern, or polished and executive. This voice should be evident in your website content, social media posts, and communication with prospects. A well-defined brand voice builds consistency and professionalism, especially when clients evaluate multiple candidates offering similar services.
Developing a Service Menu and Pricing Strategy
The services you offer and the way you price them form the foundation of your business model. Creating a clear, well-structured service menu allows prospective clients to understand exactly how you can help and sets expectations from the outset. Instead of listing every possible task, categorize your services into core offerings. For instance, you might separate administrative support, content creation, social media management, and e-commerce assistance into distinct packages.
Within each category, include specific tasks such as email inbox organization, content scheduling, proofreading, or order tracking. This not only demonstrates your range of skills but also helps clients visualize how your work fits into their operations.
When setting prices, consider both market standards and your level of expertise. Research other virtual assistants in your niche and geographic region to understand common hourly or package rates. You can choose to charge by the hour, per project, or through retainer packages. Hourly rates offer flexibility but can limit your income potential over time. Project-based pricing allows you to earn more as you increase efficiency, while retainer models provide stability with ongoing work.
As your business grows, reevaluate your pricing periodically. Increased experience, specialized skills, or higher demand may warrant a raise in your rates. Be transparent with clients about your pricing structure, and communicate any changes in advance to maintain trust.
Building a Professional Website
A well-designed website is one of the most effective tools for attracting and converting potential clients. It serves as your digital storefront and should reflect the quality and professionalism of your services. At a minimum, your website should include an about page, service descriptions, testimonials, a portfolio or work samples, and a contact form. If you want to further enhance credibility, add a blog with tips and insights relevant to your niche.
Use clear, concise language that emphasizes the value you bring rather than simply listing tasks. For example, instead of saying “I schedule appointments,” explain how efficient calendar management frees up clients’ time to focus on their core responsibilities. This client-centric approach helps potential buyers envision the direct benefits of hiring you.
Visual appeal also plays a key role. Choose a clean layout with easy navigation and ensure your site is optimized for mobile devices. Include high-quality headshots or branded imagery to create a personable, trustworthy impression. Finally, invest in a custom domain name and professional email address. These small details convey credibility and can differentiate you from casual freelancers.
Optimizing Your Online Presence for Visibility
Beyond your website, your presence across social media and professional platforms significantly impacts your visibility and discoverability. Start by optimizing your LinkedIn profile. Use a professional headshot, write a compelling summary that highlights your skills and experience, and include specific keywords related to your services. Join relevant LinkedIn groups and participate in discussions to build visibility and authority.
Other platforms like Instagram and Twitter can be used strategically to showcase your expertise. For example, you might share time management tips, productivity hacks, or before-and-after screenshots of organized inboxes or redesigned spreadsheets. These content pieces demonstrate your value in a way that engages prospective clients.
Don’t overlook the power of Facebook groups dedicated to entrepreneurs, freelancers, and business owners. These communities often feature job boards or client requests that can lead to paying work. Stay active by offering value in discussions rather than just promoting your services. This builds credibility and can position you as a go-to expert in the group.
Leveraging Testimonials and Social Proof
In the virtual assistant world, trust is everything. Potential clients want reassurance that you can deliver results reliably and professionally. One of the most effective ways to establish trust is through testimonials and social proof. If you’re just starting and don’t yet have paying clients, consider offering a few services at a discounted rate or even for free in exchange for honest feedback.
Ask satisfied clients for brief written testimonials that highlight specific results or benefits they experienced while working with you. For instance, a client might note that your calendar management helped them reclaim five hours a week, or that your social media support increased their engagement by 30%. These quantifiable outcomes make your impact tangible.
In addition to traditional testimonials, explore the use of client video reviews or screen captures of praise from email or direct messages (with permission). Incorporating these across your website and promotional materials can significantly boost credibility and persuade potential buyers to reach out.
Networking and Building Referral Relationships
A strong referral network is one of the most reliable sources of high-quality clients. As a virtual assistant, building relationships with other freelancers, business owners, and industry professionals can lead to consistent work. Start by identifying complementary professionals—such as web designers, copywriters, accountants, or digital marketers—who may serve clients that also need administrative support. Reach out with a genuine introduction and suggest exploring ways to collaborate or refer clients to each other.
Attending virtual networking events or industry webinars can also be fruitful. Many of these events include breakout rooms or social elements where you can introduce yourself and describe your services. Focus on how you can support others rather than making a hard pitch. People are more likely to refer to someone they view as generous and collaborative rather than overly self-promotional.
Don’t forget to stay in touch with past clients. Periodic check-ins via email or social media help keep your services top of mind, and satisfied clients often become repeat customers or referrers. You can even create a referral incentive program, offering a discount or bonus to anyone who refers a paying client.
Streamlining Your Operations with the Right Tools
Running a virtual assistant business requires juggling multiple responsibilities, so having the right tools in place is crucial for maintaining efficiency. Start by selecting a project management platform like Trello, Asana, or ClickUp to track tasks and deadlines across various clients. These tools help you stay organized and allow clients to monitor progress in real time, enhancing transparency.
Time tracking tools like Toggl or Clockify can help you monitor billable hours and analyze how you’re spending your time. This information is useful not only for billing but also for identifying areas where you can become more efficient.
For communication, platforms such as Slack or Microsoft Teams enable real-time collaboration and file sharing. Use these to reduce the clutter in your inbox and streamline back-and-forth conversations. For document management, Google Drive or Dropbox allow for centralized file storage and sharing.
Invoicing, calendar booking, and email automation are also areas that benefit from digitization. Tools like Calendly can automate your appointment scheduling process, while email platforms such as MailerLite or ConvertKit help you manage client communication at scale.
Setting Boundaries and Managing Client Expectations
Client satisfaction depends as much on communication and boundaries as it does on quality of work. From the beginning, clearly define the scope of your services, expected turnaround times, availability hours, and methods of communication. A client welcome packet or onboarding document can be incredibly useful here—it outlines your process, working hours, preferred communication tools, and how you handle urgent requests.
Many new virtual assistants fall into the trap of being too available. While it might seem like a good idea to respond to emails at 10 PM or work weekends to impress a client, this behavior often leads to burnout and sets unrealistic expectations. Instead, establish professional boundaries and stick to them. If needed, use scheduling tools to delay email responses until working hours, and set “do not disturb” hours on messaging platforms.
Also, consider implementing service level agreements or client contracts. These documents clarify timelines, payment terms, and deliverables, reducing the risk of misunderstandings and scope creep. They demonstrate professionalism and provide a reference point if any issues arise.
Continual Learning and Adapting to Industry Changes
The virtual assistant landscape evolves quickly, especially as new platforms, tools, and business needs emerge. Staying current with industry trends gives you a competitive advantage and allows you to better serve your clients. Dedicate time each month to professional development, whether through online courses, industry podcasts, newsletters, or webinars.
Explore certifications in areas such as project management, digital marketing, or e-commerce operations. These credentials not only enhance your expertise but also boost your perceived value to clients. The more specialized and skilled you become, the more you can charge—and the more in-demand you’ll be.
In addition to skill development, stay informed about macro trends in remote work, automation, and digital business models. Understanding the broader ecosystem helps you anticipate client needs and adjust your service offerings accordingly.
Mastering Client Communication and Onboarding for Long-Term Success
As your virtual assistant business begins to attract attention, the next crucial phase is mastering the client communication and onboarding process. Even the most skilled assistant can lose clients if interactions feel disorganized or unclear. Effective communication sets the tone for the working relationship and helps prevent misunderstandings. From the moment a prospect reaches out, you should be ready with a streamlined, professional system that guides them from inquiry to signed agreement with confidence.
When someone expresses interest in your services, respond promptly and courteously. Timeliness signals reliability and sets expectations for your working style. Your initial reply should invite them to schedule a discovery call where you can better understand their needs, clarify your offerings, and assess mutual compatibility. During this call, maintain a balance between listening and providing thoughtful input. Allow clients to articulate their pain points fully while you demonstrate how your skills can resolve them.
Once the conversation indicates alignment, follow up with a detailed proposal outlining your understanding of their needs, the services you’ll provide, the expected deliverables, and your pricing. A well-structured proposal not only reinforces professionalism but also serves as the foundation for your working agreement. It’s helpful to include an FAQ section addressing common concerns like turnaround time, availability, and communication channels.
Crafting a Seamless Client Onboarding Workflow
After a client accepts your proposal, it’s time to initiate the onboarding phase. This step often determines whether a client feels confident in their decision to hire you. Start by creating a welcome email or onboarding packet that outlines the next steps. This might include a summary of the services agreed upon, payment instructions, working hours, communication preferences, and software or platform logins you’ll need access to.
If applicable, use a shared project management tool to create a centralized workspace where you and the client can track tasks, share files, and manage timelines. Introduce them to the system and walk them through how you’ll use it. This not only demonstrates your organization but also reduces confusion down the line.
Additionally, collect any necessary documentation up front. Depending on the scope of your work, this might involve contracts, non-disclosure agreements, intake forms, brand guides, or process documentation. The more thorough you are during onboarding, the more trust you build—especially with clients who may be outsourcing work for the first time.
Maintaining Clear and Consistent Communication
Once work begins, communication becomes the thread that holds the relationship together. Clarity and consistency are non-negotiable. Begin each week with a brief summary of tasks you’ll be working on and expected delivery dates. This habit helps align expectations and gives clients peace of mind that things are progressing smoothly.
Choose a central communication platform that works for both parties—this might be email, Slack, Microsoft Teams, or another tool. Set guidelines for response time and availability to avoid unnecessary interruptions or confusion. For example, you might let clients know you check email twice per day and respond within 24 hours on weekdays.
Mid-project updates are equally important. If a task takes longer than expected or you encounter a roadblock, inform the client right away. Clients appreciate transparency, especially when it’s coupled with proactive solutions. Instead of merely reporting a delay, suggest an alternate deadline or ask if they want to reprioritize tasks to accommodate the change.
At the end of each week or milestone, send a brief recap that outlines completed tasks, what’s pending, and any feedback you need. These summaries prevent miscommunication and keep both sides on the same page.
Setting Boundaries Without Compromising Professionalism
In an industry driven by responsiveness and service, it’s tempting to be constantly available. However, long-term sustainability hinges on setting healthy boundaries. Defining your working hours and sticking to them helps prevent burnout and sends a signal to clients that you take your business seriously.
Establish your availability clearly during onboarding and reiterate it as needed. For instance, you might work from Monday to Friday, 9 a.m. to 5 p.m., with a one-hour break in the afternoon. If clients reach out outside these hours, use tools that allow you to delay responses or set auto-responders.
Don’t hesitate to say no to tasks that fall outside your agreed scope. You can do this respectfully by acknowledging the request and suggesting a separate quote or alternate approach. This protects your time while offering value. For example, if a client suddenly asks you to redesign a website when your agreement covers only administrative work, you might respond with, “That sounds like an exciting project. I’d be happy to create a separate proposal for web design services if you’re interested.”
Boundaries aren’t just about hours and scope—they also extend to tone and mutual respect. If a client consistently speaks in a dismissive or aggressive manner, it’s important to address it directly and professionally. A respectful business relationship requires mutual regard, and you’re under no obligation to tolerate disrespectful behavior.
Managing Client Expectations with Scope and Deliverables
One of the most common sources of tension in virtual assistant work is scope creep—when a client adds additional tasks or expands project requirements without discussing compensation or deadlines. Preventing this starts with a crystal-clear scope of work established at the outset of the project.
Use written documentation to outline exactly what tasks you will complete, how often, and what constitutes completion. For example, if you’re managing a client’s blog, specify how many posts per month, the length of each post, whether you handle publishing, and how many rounds of edits are included.
When clients request changes or add tasks midstream, respond by clarifying how the new work fits into the existing agreement. You might say, “I’m happy to add this to the queue. Would you like me to replace an existing task, or should I send an updated invoice to reflect the additional hours?”
Having a system for scope management doesn’t just protect your time—it shows clients that you run an organized business. This professionalism builds respect and creates a more enjoyable working relationship for everyone involved.
Handling Feedback and Difficult Conversations Gracefully
Even in the best client relationships, feedback is inevitable. Sometimes it’s positive and uplifting, other times it can be critical or unexpected. Your ability to receive and respond to feedback with grace is one of the most important soft skills in the business.
Start by cultivating a mindset that views feedback as constructive rather than personal. If a client suggests a different approach or points out a mistake, resist the urge to become defensive. Thank them for the input and ask clarifying questions to ensure you understand the issue completely.
When delivering feedback to clients—for example, if their communication style is unclear or if they’re slow to approve tasks—choose your words thoughtfully. Focus on outcomes rather than blame. You might say, “To help me meet deadlines more efficiently, it would be helpful to receive approvals within 48 hours. Would that timeline work for you?”
There may be times when conversations become uncomfortable. Perhaps a client is unhappy with results or expects turnaround times that are unreasonable. In these situations, remain calm, professional, and solutions-oriented. Acknowledge their concerns, reiterate your commitment to their satisfaction, and propose a path forward. If the relationship becomes too strained or toxic, be prepared to part ways respectfully and professionally.
Refining Processes with Client Feedback
Once you’ve worked with several clients, you’ll begin to notice patterns—certain processes that work smoothly and others that repeatedly create friction. Use this data to improve your systems over time. Client feedback is a valuable tool for identifying areas where you can be more efficient, clearer, or more supportive.
After a project concludes or once you’ve worked with a client for a few months, consider sending a feedback form. Ask questions about your communication, reliability, the value of your services, and areas where they’d like to see improvement. This not only gives you actionable insights but also demonstrates that you’re invested in continuous improvement.
Use the responses to refine your onboarding process, service packages, and communication workflows. For example, if multiple clients mention that your task summaries are particularly helpful, you might standardize this as part of your weekly routine. If others indicate that deadlines were occasionally unclear, you can add more structure to your project timelines.
Cultivating Client Loyalty and Repeat Business
Client acquisition is costly in terms of time and energy, so once you’ve built trust with a client, it’s worth nurturing that relationship for long-term collaboration. One of the easiest ways to encourage repeat business is by consistently exceeding expectations. Deliver work on time, remain communicative, and go the extra mile when appropriate.
Consider offering ongoing retainer packages to clients who need support each month. These can provide consistent income for you and convenience for the client. For example, you might offer a 10-hour package that covers recurring tasks like social media scheduling, customer support, or content uploads.
Small gestures also go a long way. Send thank-you notes after major milestones, remember their business anniversaries, or offer early access to new services you’re testing. These thoughtful touches set you apart and deepen the working relationship.
If a client stops booking you, follow up after a few months to check in and offer your services again. Even if they don’t need help immediately, staying top of mind can lead to referrals or future projects down the line.
Preparing for Scaling and Delegation
Once your virtual assistant business reaches a stable point with consistent clients and income, it’s natural to consider scaling. Growth doesn’t always mean hiring a team right away—it can also mean streamlining your processes, raising your rates, or narrowing your niche to attract higher-quality clients.
However, if demand exceeds your capacity, you may want to explore subcontracting certain tasks or bringing on a junior assistant. Start by identifying areas that are repeatable and time-consuming—such as calendar management, formatting, or data entry. Create standard operating procedures (SOPs) for these tasks so that someone else can handle them with minimal oversight.
When hiring support, prioritize candidates with similar communication styles and work ethics. They will be representing your business, so it’s essential that clients receive the same level of service they expect from you. Introduce them gradually and transparently to your clients and monitor the quality of work closely during the initial stages.
Conclusion
Building a successful virtual assistant business is both a professional challenge and a personal evolution. From the foundational steps of defining your services and setting up your operational tools to the more nuanced skills of managing clients, communication, and long-term growth, each phase demands thoughtful intention and strategic action. It begins with clarity—about what you offer, who you serve, and how you deliver value. By grounding your business in a strong identity and backing it with systems that enhance productivity, you set the stage for meaningful, profitable work.
Yet the true engine of sustainability lies in your client relationships. Clear communication, respectful boundaries, and streamlined onboarding aren’t just business best practices—they’re vital to establishing trust and reducing friction. Clients don’t just hire skills; they invest in reliability, professionalism, and the confidence that their needs will be met with care. Honing your ability to navigate feedback, manage expectations, and gracefully say no are all part of the ongoing discipline of running a service-based business.
As you deepen your client base, embrace continuous improvement. Listen closely to what works and what doesn’t. Use feedback loops to refine your processes, update your offers, and elevate your systems. Consider how you can scale without compromising quality, and don’t shy away from reimagining your model to better serve both your clients and your personal lifestyle goals.
In the end, a thriving virtual assistant business is not just about filling your calendar—it’s about creating a career that honors your time, your skills, and your vision for the future. With a strategic foundation, client-centered operations, and a commitment to steady refinement, your business can not only survive but flourish in the growing digital economy.