Marie Schulz, an admin to an Air Force general, found herself at a crossroads several years ago when the base closed. She got a new job but hated it because the long commute and office hours drained her, leaving no time or energy to work out or see friends. "The employer expected the employees to live for the job," says the Rumely, Michigan-based Schulz. "They even had computers put into our homes so that when we weren't at work, we were still working from home. I wanted my life back."

Schulz took her life back by rolling up 20-plus years of admin experience and parlaying that to her own business as a virtual assistant, or VA. Now her days are noticeably different.

What is a VA? Stacy Brice, chief visionary officer and founder of AssistU, sums it up this way: "A VA is a small biz owner who provides administrative and personal support across the board to clients in long term and collaborative relationships."

Preparation is key to a VA's success, and Brice advises against admins jumping into things because they have years of admin experience. "Remember, it's a business, and you don't want to start a business on the seat of your pants," says Brice. "Most startup businesses don't make it to the five year mark. You don't want to make mistakes."

VAs' primary client base is the small business owner, entrepreneurs who need support because they can't do everything on their own but don't want the hassle of hiring a full-time employee, according to Brice. She estimates a VA's rate at $30 per hour. However, that amount can skyrocket if a VA has experience in a niche area.

Being a VA requires numerous hard and soft skills, including:

"The world is sloppy when it comes to grammar," says Brice. And a lack of solid language skills can be a great detriment to a VA. "Even if a client is a poor writer or speller, she won't accept that in a VA."

Being a VA involves juggling numerous clients. Being able to put your hands on the right files when a client calls is crucial.

A VA must also be comfortable with technology, since the job requires working in a virtual world. "Your primary tools are technological, so if you're not comfortable in that environment, you'll have trouble," says Brice.

"You must be able to quickly take in information, synthesize it and logically spit it back out," says Brice.

A VA must be entrepreneurial and self-disciplined, since no one is watching over your shoulder, notes Brice. "One thing that comes with the VA territory is you're playing at a different level," says Brice. "You're not sitting in an office being told how, what and when to do things, with set lunch times and the inability to say no to a project. You must be able to transition to the thinking that you're a business owner, you get to say what you want to do, and you get to pick your clients and set your rates."

Setting business standards and sticking to them can be a rough transition for many VAs. "Sometimes you have to have hard conversations with your clients if things aren't going the way you initially expected," says Brice. "You may have to speak frankly that when you started out with the client, you expected X, but Y is happening, and that you two need to discuss how to make things better. Those aren't easy conversations to have." The upside to such frank discussions is VAs generally build long term, collaborative relationships with their clients, she says.

While many admins want to work from home, many are not willing to do the hard work to make it happen. "The fear of success keeps many people down," says Brice. "They sabotage their actions, because they may think that if they're as successful as they want to be, their lives might change -- and that frightens them."