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Candy Beauchamp

Mini Rant: Dollars for Hours

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Lately, I seem to be having this conversation each and every week with VAs... they want to know what to charge for something or they can't believe someone charges XYZ for something. I think a lot of VAs are not in the right mindset, guys.

 

It's not about how long it takes you. I can do certain tasks in 30 minutes or less. It's about the value of having me do it. It would take the client four hours, a valium, a few cups of coffee and a trip to their chiropractor to do some things that I can do in my sleep. But that's because I've done it five million times and I don't even think about it anymore. It's about experience and know-how. You have a special skill that not everyone has. Utilize and stop undervaluing yourself and your knowledge.

 

You know that old story right? A guy calls a fridge repair guy and he walks in, looks at it, hits it with a hammer and hands him a bill for $200. The owner is furious and asks for an itemized bill for the work. He hands him the bill that says "15 minutes, $25 - Knowing where to hit the fridge, $175".

 

Think about it... stop thinking about dollars for hours as much as you can. I didn't get to the level of success that I am by undervaluing my work or the work of my team members. It's all about value. Suzanne Evans once said that she charges her coaching clients not hourly and not by session but by what SHE thinks they are worth. What their earning potential is. Why? Because she's that damn good of a coach. Just food for thought.

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Okay I am the biggest 'I don't know what' about this issue...I struggle with it all over. I totally get the value thing... but having been ingrained in my head that the best point about a VA for a client when compared to a reg admin person, is the no coffee breaks, wasted time, vacation pay etc etc. the argument for tracking time over value sits easier in my brain. Naming my business what I did, probably does not help!

 

That is where I always get stuck in making this work. That and having clients that want a wide variety of support and in some ways it is easier to time it and charge for it.

 

i totally get the value of knowing where to hit the fridge with the hammer... but it is still a conundrum I struggle with daily.

 

... and that Donna is why i am coming to see your talk in April!!!


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Donna Toothaker is speaking about this in March at our VAvirtuosos Online Conference. Seats starting as low as $19 plus 19 more educational webinars by Virtual Assistants who have been there and done it, don't miss it!

 

Donna will be presenting: Learn to Create and Sell Service & Support Packages to Clients, Move into a Value-Based Business Model, and Stop Trading Hours for Dollars

 

Are you nervous to raise your rates?

Are you tired of tracking every minute of client work?

Most importantly, are you tired of trading hours for dollars, and not getting paid for your true value and worth?

 

Learn how (and why!) to create service and support packages for clients. Moving to the “package model” in your business will allow you to charge what you’re worth, service clients in a bigger and better way, and create a client list of raving fans. Learn the strategies and tools to create packages that make sense for your business… and for your clients! You’ll learn the different types of packages, what to include in your packages, how to overcome any possible client/prospect objections and you’ll learn the strategies that you can implement immediately to begin moving out of the hourly model and into the package model. You’ll learn all the tips, tricks and techniques for creating a successful “value based” business. Stop selling your time and learn how to sell your true value, worth and outcome that working with you has for your clients.


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Okay I am the biggest 'I don't know what' about this issue...I struggle with it all over. I totally get the value thing... but having been ingrained in my head that the best point about a VA for a client when compared to a reg admin person, is the no coffee breaks, wasted time, vacation pay etc etc. the argument for tracking time over value sits easier in my brain. Naming my business what I did, probably does not help!

 

That is where I always get stuck in making this work. That and having clients that want a wide variety of support and in some ways it is easier to time it and charge for it.

 

i totally get the value of knowing where to hit the fridge with the hammer... but it is still a conundrum I struggle with daily.

 

... and that Donna is why i am coming to see your talk in April!!!

 

Its all about the value of what you do for the client. I get where you're coming from because I've been right there with you in the "you get what you pay for camp". BUT ... when you realize the value of your services TO the client, they really do get what they pay for.

 

How much is it worth to them for you to set up their social media marketing? Could they do it on their own? Probably. Do they WANT to do it on their own? Probably not. THAT'S where YOUR value lies.

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Donna Toothaker is speaking about this in March at our VAvirtuosos Online Conference. Seats starting as low as $19 plus 19 more educational webinars by Virtual Assistants who have been there and done it, don't miss it!

 

Donna will be presenting: Learn to Create and Sell Service & Support Packages to Clients, Move into a Value-Based Business Model, and Stop Trading Hours for Dollars

 

Are you nervous to raise your rates?

Are you tired of tracking every minute of client work?

Most importantly, are you tired of trading hours for dollars, and not getting paid for your true value and worth?

 

Learn how (and why!) to create service and support packages for clients. Moving to the "package model" in your business will allow you to charge what you're worth, service clients in a bigger and better way, and create a client list of raving fans. Learn the strategies and tools to create packages that make sense for your business… and for your clients! You'll learn the different types of packages, what to include in your packages, how to overcome any possible client/prospect objections and you'll learn the strategies that you can implement immediately to begin moving out of the hourly model and into the package model. You'll learn all the tips, tricks and techniques for creating a successful "value based" business. Stop selling your time and learn how to sell your true value, worth and outcome that working with you has for your clients.

 

 

 

I would love to hear what Donna has to say about pricing. I'm nervous to raise my rates, I'm tired of tracking every minute and I'm sick of not getting paid for my true value or worth. I'm also tired of handing out discounts for my services. My feeling lately is - why should I? I'm providing a much needed service to lawyers who think nothing of charging $300/hour. I literally work day and night but my bank account doesn't show much. Please let me know how I can obtain a copy of Donna's presentation. Thank you!

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When I first started as a web designer back in the 90's; I priced my services low - thinking I would get more business. What I really got was a lot of work and very little pay. Over the years, I increased my prices. Something I heard many years ago stuck with me: If you are really busy, your prices are too low.

 

My hourly rate for what I do is completely in line with my years of experience and the technical niche I specialize in - and I do get clients that pay me my full hourly rate all the time! I am not at all offended if someone thinks my rates are too high, that's fine - they are not my target client.

 

I agree with what Candy said - clients are paying for our knowledge, expertise and the fact that we can do something they don't want to, or choose not to. The fact that it takes me a fraction of the time it would take them is why they are paying me my hourly rate - saving them time and frustration and knowing it will get done right by a professional. :)

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