How to decide what your Virtual Assistant rates should be.
I know it was a very hard decision for me when I first started my Virtual Assistant business. I may lose some potential clients if I charge too much? What if I charge too little and clients assume my quality is not the best? How tough is the competition? Should I try to get clients by charging less than other virtual assistants?
Most new virtual assistants have struggled with these questions too. Rest assured most self-employed professionals struggle with the question of how much to charge.
Simplify the process of determining your rates to make things easier. Getting confused with all of these questions and worry about every little thing will only complicate things and make it more difficult than it needs to be.
Start with simply researching the rates of other virtual assistants that have similar credentials and are offering the same services you would like to offer. Take advantage of the many forums and Virtual Assistant Associations available as you start your research.
Rates will varying according to the particular industry you want to target…and some industries pay more than others. Your proficiency level and the variety of skills you possess is another key factor to consider. You can charge more if you have many skills and years of experience.
Should you start low and raise your rates later once you have a client base?
This is a tricky question with no correct answer; however, here are some things to consider:
If you start out with rates that are well below the standard for your services, it can be difficult to raise them later. Clients don’t like to start paying more for their services…including services. On the other hand, if you start a little low, you certainly can raise your rates down the road as your skills improve and you build an impressive portfolio.
Another factor to consider when determining your virtual assistant rates is your target market. What will your target niche be? Consider your type of clients and the amount they can afford and will be willing to pay? For instance, a highly skilled virtual assistant certified to specialize in assisting real estate agents, legal or financial professionals will be able to charge more than a VA who works with entrepreneurs and new business start-ups that only need help with basic administrative tasks.
While I don’t believe your rates should be determined by and virtual assistant certifications you have, you do need to consider your level of training and experience in the services you provide. You will be able to charge a higher rate if you provide an extremely high level and have years of experience..
Learning to value yourself is a great challenge for many home based business owners. Keep in mind smart business owners know that you get what you pay for and are willing to pay more for higher quality services. Do not be afraid to charge what you are really worth.
Along with these factors, when determining your virtual assistant rates, you need to remember you are a business owner now and you must charge enough to make a profit.
Learn more about becoming a virtual assistant and how to run a successful home based business. What could be better than owning your own home business and being your own boss.