You Need To Know It Before You Get Your First Client
I get this question weekly from people either thinking of starting a Virtual Assistant business or someone who has landed their first client and has no idea what to charge.
Now, in my honest opinion, you should know what you are charging for your services before you get your first client.
The problem with waiting until after you’ve landed them is they can see you scrambling around trying to figure it out or they can sense that you don’t quite have it all together yet. Not a great way to start a relationship.
This is why I’m always saying you need to have your business foundation in place before you start taking on clients.
Sorry… getting off my soapbox <grin>.
Back to what do you charge for your services.
What services are you offering?
First, what you charge is directly related to your skills and the services you offer.
Regardless of what you may have been told, it takes more than administrative skills to be successful as a Virtual Assistant.
The more technology you know, the more you can charge and the easier it is to get clients.
The more experienced you are, the more you can charge!
Do You Know Your Numbers?
Second, you need to know your numbers.
What numbers, you ask?
How much you NEED to earn and how much you WANT to earn. (These numbers should be different, in some cases vastly different.)
This number is your baseline number – the amount you must earn in order to keep the lights on.
I create a YouTube video series on pricing and setting your rates. It goes into detail about how to find your baseline rate using my Rate Calculation Sheet Template.
I recommend watching at least the first two videos, as it goes through the exercise of figuring out how much you need to earn using my Rate Calculation sheet.
You can download the Rate Calculation sheet by clicking on the image below.
I’d hate to see you undercharging for your expertise and having a hard time paying your bills because you followed advice from someone saying if you’re confused or don’t know what to charge start at $25 an hour!
There are people teaching this CRAP. Don’t follow this BAD ADVICE.
Do the work to find out your baseline rate and start there.
Also… stay away from asking people on Social Media how much you should charge. They don’t know your numbers – you are the best person to decide what you should charge.
Third, what services are you offering?
What is the market willing to pay for those skills?
Here are average rates by type of service in US Dollars. Please note these rates are NOT guaranteed and are to be used as a guideline. (The more experienced you are in an area, the more you can charge.)
- Administrative Skills – $25+
- Data Entry
- Calendar Management
- Email Management
- Technical Skills – $35+
- Specialized Skills – $50+
- Email Marketing
- Project Management
Once you’ve completed these exercises (how much you need to charge and your services), it’s time to create your Action Plan for getting clients and getting busy.
What do you think?
Feel free to post below and let me know what action you’re taking today to figure out how much you need and want to earn. I’d love to hear from you. All comments and questions are welcome.
Thanks for reading – Susan