Episode 311: How to Recognize When It’s Time to Raise Your Prices as a Virtual Assistant

Full Episode Transcription:

I’ve had a good amount of questions coming in recently about how to know when it’s time to raise your prices as a virtual assistant. So in this episode, I just want to break down for you two really clear ways that are indicators that your prices need to go up in your virtual assistant business. Number one, the first way to recognize when it’s time to raise those prices is when you’re landing clients almost too easily. If every discovery call you have says yes, You’re probably not charging enough for what you offer.

Okay, and I know it’s hard to think about because Obviously, we don’t want people to say no and go with someone else But if everybody’s saying yes, and you’re booked out and you’re still not at your income goals Then you’re not charging enough Because these clients are all willing to work with you, they love working with you, you’re still not at your income goals, and you’re fully booked out, you’re working like 30, 40 hours a week for these clients, and you’re still not at those income goals, you’re not charging enough, okay? So, it might be time to consider sending an email to the clients that were some of your first clients and say, Hey, I’m raising my prices next month, give them, you know, at least a month. wiggle room to know that you’re going to be raising those prices. That way, if they’re not comfortable, they can, you know, find someone else and they have time, but if they do that, that’s totally okay because that’s opening a spot for you to get a client who is actually paying you what you should be charging and what you feel your time is worth. Okay, so it’s okay if some clients let you go and when you raise your prices, that’s just making room for a better fit. Another really powerful way to recognize when it’s time to raise your prices as a virtual assistant is when you feel annoyed with client work. Like I know sometimes you pick a service that is just like some pieces are annoying and that that’s gonna happen with every service, I think.

But if the whole entire time you’re like, why am I doing this? Like, I don’t like this, this sucks. Like I didn’t charge enough. Then you definitely need to raise your prices. I’ve had that a couple of times where I got a new website client. And then the whole time I’m just like, I’m just not into this. Like, this is not fun. And usually I love doing website design. So I know for me that when I feel that way, it’s because I didn’t charge enough for a project. And I need to raise my prices for the next clients. Okay, so those are two really clear indicators that it is time to bump up your rates and find those clients who will pay those rates for your experience and what you offer for their business. Again, when you land clients almost too easily, It’s time to raise your prices. And when you feel annoyed with client work, it is time to raise your prices. All right, y’all. I hope this episode was helpful for you. Let me know if you have any questions. You can drop them in our free Facebook community at facebook.com/groups/virtualassistantmama. I’m always happy to answer your questions in there. And we will see you in the next episode.