For nearly 10 years, founder Nick Loper built Virtual Assistant Assistant into the Yelp of virtual assistant companies, offering a vast directory and review platform for outsourcing services.

And while the company never hit huge traffic numbers — about 15,000 unique visitors per month — it reached the right people. For would-be buyers, reaching a highly-targeted audience proved to be valuable.

So valuable that in 2020, Loper sold Virtual Assistant Assistant to entrepreneur Mica Harvey for what he described as a low six-figure deal. Loper bootstrapped the company to roughly $5,000 per month in revenue.

Lessons Loper learned by selling Virtual Assistant Assistant

While he’s thrilled to have sold the company, Loper said it was difficult saying goodbye to a profitable project he’d worked on for nearly a decade. Through the sale experience, Loper learned some accounting lessons he plans to apply to other businesses.

“One of my challenges was organizing the financial elements of the business because a lot of the accounts and links were intertwined with other projects of mine,” he said. “If I had to do it all over again, I’d be better at silo-ing the project and having better revenue attribution.”

“It’s kind of nerve-racking opening the doors to potential buyers and divulging your secrets. When the funds finally transferred — the biggest deposit I’d ever seen in my account — I breathed a sigh of relief.”

Now that Virtual Assistant Assistant is with its new owner, Loper is focusing on Side Hustle Nation and its podcast, The Side Hustle Show. Through this content-focused company, Loper shares his entrepreneurial journey and offers practical advice for people interested in creating a side project to escape the 9-5 grind.