Episode 90: How Do I Know What to Charge and When to Raise My Prices as a New Virtual Assistant?

Full Episode Transcription:

(00:07):
Hello and welcome back to the show. Hope you like my little song. All right. On today’s episode, it’s another quick tip Thursday episode where I’m answering a question that y’all have asked me. It’s a short and sweet episode, but today’s question is, “how do I know what to charge as a new virtual assistant? And how do I know when to raise my prices?” So to jump right in for how do I know what to charge as a new virtual assistant. I recommend starting at no less than $25 an hour. Start there, because you’re gonna have to, you know, pay taxes with that amount. You’re gonna have to save some of it to reinvest in your business. So you don’t wanna start any lower cause then you’re not really gonna be making a whole lot. You may see people charging less than this, but that’s because they’re either a living in another country where the cost of living is different or B they’re not charging what they should and they’re devaluing the work of virtual assistance.

(01:49):
So please don’t be a part of that problem. Start at at least $25 an hour. And if you have any sort of experience in the service that you’re offering, you can start higher. So yeah, minimum $25, an a that’s what you should charge as a new virtual assistant, if not higher than that. All right. So as far as raising your prices, any time you feel more confident in the services you’re offering, you can raise your prices. If you’ve obtained proven results of your value as a service provider, you can raise your prices. So if you have testimonials to share, if you have data to show that what you’re doing for your clients is working well. For example, maybe their social media posts, you can track the data and see how far those posts are reaching. If you can tell how those posts have helped with conversions, you can show that data. Facebook ads, obviously you can take screen shots of how that’s working, anything like that.

(02:50):
If you can show that you are getting results for your clients, then that’s a time to raise your prices. Any time you’ve taken a new course or you’ve learned a new skill, raise those prices. Anytime you’ve been doing work for a client in a certain skillset for three months or more, raise those prices for the next client. The beauty of becoming a virtual assistant is that you get to raise your prices you want. I don’t want you to stay there forever, just because you’re scared to raise them and lose clients. If you have developed your skillset, you’ve become better in that service you’re offering. Then it’s time to raise those prices. Okay? Told you all, this was gonna be a short, quick sweet episode. If you have any questions you want me to answer in the Quick Tip Thursday episodes, make sure you come into our free Facebook community, facebook.com/groups/ditchtheclassroom, and go to the Quick Tip Thursday post and post your question. I would be more than happy to answer it for you. All right y’all. I love you so much and we will see you next episode.