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Showing results for tags 'rates'.
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One of my first clients joined me 18 months ago and I gave him a ridiculously low rate of $10 ph, which I was happy with at the time because the work was a bit of data entry here and there, filtering some emails, things that I could do while I was listening to the TV, just to earn a bit of extra pocket money (you know how it is! I was new!) Anyway, my business grew, as did my responsibilities for this particular client, in a huge way - I became the first point of contact for his customers, took responsibility for all customer support, working with Infusionsoft, WordPress, my 24 hour response time became almost instant response time, etc, etc. I approached the subject of a raise with him last March, and it took him a few weeks before he'd reluctantly agree to go up - by $2 per hour!!!! These days, my Infusionsoft skills, 'inside out and back to front' knowledge of his business means that he calls me his 'right hand person' and frequently says that I'm an integral part of his business. I'm averaging 15-18 hours per week for him at $12 ph. I've also taken on clients in the past 12 months that are on rates of more than double what he's paying - and they are more than happy with what they are paying. In December just gone, I decided to get a business plan in place to roll out in the new year, which meant trying to get my clients on a consistent rate level, and stop spreading myself too thin across too many clients. I thought if I could limit myself to 3 or 4 clients and bring this particular guy up to $20 ph (effective from February to give him some notice), I could focus on each of my clients more effectively, rather than doing too much for too little money and spreading myself too thin. However, he was not pleased that I had spoken of a raise again before 12 months since the last increase (I'm 50/50 on that one, I understand it to a point, but then - it wasn't much of a raise and who wrote the rule that increases are only allowed every 12 months?) He's refused to even talk about it again until April! The thing is, I really love working with this client, I enjoy the role, I've learned a LOT over the past 18 months - but right now I am SO demotivated! He has a major launch coming up in March and I'm wondering whether he's thought process is he's going to keep me on until after then and then let me go and hire someone cheaper. What might bite him is that he'll struggle to find someone that not only knows Infusionsoft and all the other nuts and bolts of his business, etc, but that genuinely cares for his business like I do. What do you think I should do? Even though he pays me the least per hour, he gives me the most hours and is therefore my best paying client per month. Saying that, I could survive without the money I earn from him. Do I cut my losses and spend the 15-18 hours per week looking for a couple more clients who will appreciate the value I bring? Or should I stick it out and see what he says in April? Even if he does keep me on, he might say "I'm only willing to pay $14 ph", which as you know is still at least 50% less than what he should be paying?!! Thanks for any advice and sorry about the long post!!!
In an effort to gain more knowledge about being a small business owner, I met with a SCORE counselor yesterday. We talked about various things, including my website. I told him that I had a link on my website to my services page, where I list various things that I do. From that page I have a link to my "Rates and Information" page. He told me that he wouldn't necessarily put rates and information on the website. If people wanted to know my prices, why wouldn't they call or email. They may take the information on my page to use as a negotiation tool with another vendor, instead of actually calling me. Furthermore he gave this example. When you think of Walmart you think of "Low prices" Walmart advertises their prices. When you think of Nordstrom what do you think?? "High Quality" but Nordstrom doesn't advertise their prices. If they can afford your services clients will let you know, but advertising your rates on your site cheapens your product. How many VA's have their rates on their site?
Wondering what you all would recommend for figuring up rush charges? In most cases, my hourly fee is $35 (I have a couple of clients I've given a discounted rate to) and I put in every client's contract that "holiday and rush fees may apply" just as a precaution for myself, but I've never actually had to charge one, so I've never decided how much it would be. ha. How do you all handle rush fees? Is it a certain percentage of your hourly rate (Like time and a half for overtime if we were at a "normal" job elsewhere)? Or is it a flat number you tack on at the end? And, if so, how much? Thank you!
I retired 3 years ago after 30+ years of administrative assistant experience to agency and dept. executives. I recently started working part-time as a VA. I don't want to work more than 20-25 hours a week. I have two clients that I got thru a social encounter with one of them. They are both new at establishing their speaking/teaching businesses. I didn't know at the time what rate to charge or what they wanted from me - neither did they really. Things just grew over the past 3 months. My rate is $12/hour. But I find they want more specific time consuming work from me - research, contacting guests, venues, updating web pages, emails, etc. They both would like it if I worked10-20/hrs. a week. I felt I should be asking at least $18 an hour. I am willing to work 20 hours for one client but not both. How do I drop one? First reaction from one of them when I mentioned the increated rate and max. 10 hours was that it was a huge leap (it is) and that she wasn't sure yet if she would need me for 10 or 20 hours. I know I didn't do my homework before starting to work. I think I have created a nightmare out of what was to be my dream job. Please help!!!