Over the last decade there was constant growth of online schools over the last decade, and this is expected to continue. Noting the previous research of the importance of school leadership on student achievement and the expected growth of virtual schools, leaders of these schools need to possess and demonstrate new knowledge and skills beyond those of brick-and-mortar school principals. This study examined how virtual school principals reported supporting student achievement and identified the preparation necessary to lead virtual schools. This exploratory phenomenological study examined the activities in which virtual school principals engaged, the challenges faced, and the preparation needs of virtual school leaders. Through the use of a survey questionnaire, data were collected and analyzed from 52 virtual school principals in 16 states in the U.S. While the responses of virtual school principals in this study illustrated similarities to brick-and-mortar school principal responsibilities, the findings also indicated several areas where specific knowledge and skills are needed by virtual school principals for effective e-leadership. These include communicating effectively using digital platforms, knowing best practices for online instruction, evaluating and supervising teachers online, providing professional development and building capacity of online teachers, and understanding the different funding models for virtual schools. Although scholars have acknowledged the dearth of research regarding the preparation of virtual school principals, this study contributes to the field by identifying distinct areas of preparation that are specific to these leaders.