Most Virtual Assistant have heard the question, “What do you charge?” at least once.
Consumers want to know how much something is going to cost before they buy.
For Virtual Assistants, this can be a sticky point. I have had lots of conversations with many VAs who dread having to answer this question.
There are a number of reasons why this might be, but the biggest one by far is the lack of confidence with the rate you have set for your services.
Why is it that so many of us seem to second guess our rate structure when talking with a potential client?
t’s simple. It’s a fear of rejection. You think they’ll say no.
It’s important to develop your rate structure so that it makes sense for you, so that you make money, and so that the client gets value.
This is not as difficult as it sounds.
1. Charge what you are worth.
You have to feel good about how much money is coming in to your business. You have to make money, otherwise it’s not going to be a viable business for long. Consider your skills and your service offerings, and look at the value you are providing to your clients based on your expertise. Once you set your rates, hold firm to them when you speak with potential clients. The best clients will always pay your rate because they see the value in having you work with them in their business. For more info on knowing your value, click here.
2. Really do the math.
Don’t base your rate on what others are charging. I have seen many VAs set up shop and charge a low hourly rate because they simply haven’t done the math to see whether they are charging enough to sustain their business. (If you want help doing the math, pick up my free Rates Bonus Kit here).
3. Don’t be afraid to change your rates when necessary.
And this doesn’t just mean raising your rates … recently I spoke with a VA who had set her rates and then changed her specialty. She felt that her current rates were too high for her ‘new’ field of work and wondered what to do. She was worried that it would appear that she was devaluing herself by lowering her posted rates for clients, and she also didn’t want to charge the new niche the ‘old’ rates because they didn’t match the new services she was offering. I suggested that she develop new packages for her new niche, and that she should base it on the new lower rate she wanted to implement – but to be sure she did the math! She did just that, and she was confident that her new clients were getting the value they deserved.
Setting your rates is often one of the most stressful parts of setting up your VA business (or making changes to it), but it doesn’t have to be.
By simply taking the proper time to figure it out, you can set your rates at a level that you are comfortable and your clients are happy too (and you both make money!)
If you find yourself struggling to be comfortable with your rates, I invite you to schedule a free consultation with me to talk it over. Just click here to schedule your session: www.yourvamentor.com/15-min