□ You don’t want to get penalized for getting better at your job! □ Here’s the main reason I suggest everyone eventually move into package based pricing: Here is a second example from Facebook Ads specialist Brandi Mowles:Įach of these packages provides a specific set of deliverables. Here is an example via podcast manager Kristi Golden from Golden Virtual: Instead of paying for your time, your client is paying for the value of your deliverable. Most virtual assistants or freelancers are going to want to eventually move into package-based pricing because it doesn’t require you to trade time for money. I’m just going to tell you upfront…I LOVE offering packages. Benefits of package-based pricing in your virtual assistant business Hourly rates work really well for general admin services, but it’s compatible with almost all other types of VA services as well. Here’s an example by Erica Fullerton from Ovello of what that could look like: (For example, an hourly rate package might look like 10 hours per month purchased by a client upfront for $300.) I recommend to all of my students that they sell their hourly rate within a package structure. That is why bundling hours together as a package is important. If the task takes your client 2 hours, then you will probably want to estimate between 2.5 – 3 hours for you to complete it on their behalf.Įstimating time is a tricky thing. Pro tip: If it’s your first time doing a particular task or working with a particular client, you can ask the client how long it typically takes them to do it. It means you know you’re not getting paid $4 an hour just because you underestimated how long the project would take you. Having an hourly rate can also protect you. (That way you’re not “penalizing” yourself just because you’re completing the work more quickly). Starting with an hourly rate is highly recommended because it gives you the chance to learn how long different tasks are going to take you.Īs you develop your skills and complete your tasks more quickly, you can also raise your hourly rate. When you’re first starting out in your virtual assistant business, I do recommend starting your hourly rate between $20-$30 per hour. Internally, we all kind of know our hourly rate. In this scenario, if your internal hourly rate is $50 (you’re not actually disclosing that to the client), you would charge at least $500 for the website design package. This website will take you approximately 10 hours to complete. From there you may increase the rate a bit, considering things like taxes, time spent communicating with your client, or revisions the client may request for you to make.įor example: Let’s say that you offer a client a website design package. You will use that internal hourly rate and multiply by the amount of time you expect the work will take. While you might not disclose that hourly rate to the client, it serves as your north star when calculating your packages. What I mean by internal hourly rate, is a minimum rate that you would charge for that particular service. They know they are paying X amount of dollars for the X amount of hours you worked.Įven if you start off by offering flat rate packages for your services, you should have what I call an internal hourly rate for the different projects that you do. The exception to this would be if you have a specific skill that you are really comfortable with and you already know how long it will take you to complete.Īn hourly rate is really straightforward for both you and the client because there is no confusion on the client’s end about what they’re paying for. My best advice for virtual assistants who are just beginning their business is to start with an hourly rate for their pricing structure. (It’s tough to know that until you’ve been doing that kind of work consistently.) Now, how long does it take you to write an industry-specific blog post with SEO keywords about a topic you have to research? When you are new to the world of virtual assistance, you have NO idea how long certain tasks will take you.Įven if you’ve completed that kind of work before, the time it takes can change ENTIRELY based on the client you’re working with.įor example, how long does it take you to write 500 words about a subject you’re familiar with? (Show of hands ✋…how many people have you told, “I’m starting a virtual assistant business” and their first response is… “What’s that!?” It’s happened to me at LEAST 1000 times) When you first start your virtual assistant business, there may be people who don’t even know what a virtual assistant is or what they do. Prefer YouTube? Watch the full video here! Benefits of hourly pricing in your Virtual Assistant business
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