Question I feel like I am cutting myself short while establishing my prices.

KevynS

New Member
I want to have rates that are competitive, but at the same time I don't want to undercharge and cut myself short. I am just struggling with how to find that happy medium. How do you create a billing rate that is enough to cover the costs of overhead (supplies, rent, bills, etc.), enough to pay myself and still able to put money back into the business, and yet stay competitive with other companies who do the same thing? Most of the things I will be doing will be at an hourly rate, but then there are a few things that I can do with a flat rate with the understanding that any extra costs will be added.
 
Hello KevynS,

I'm at the same stage as you are. Actually, I'm trying to move from freelancing on micro job sites to creating my own business so pricing has been a concern of mine, recently. I'm currently charging by the hour but I am not very fond of following that structure when launching my own business as I believe that most clients try to jampack the VA with tasks when charged at an hourly rate and that has been overwhelming for me.

So, I consider transiting from hourly charges to packages and retainers which has been said to be more profitable than charging by the hour. There's a masterclass going live today from Lisa Wells, you may like to check her page at profitablepackages.com for further information. I believe it will help you.

Another option is to search "rate calculator for freelancers" on Goggle - you'll get plenty of results that are indeed very helpful. Also, remember to conduct a research on your competitors' websites to get an idea of a medium market rate.

Best of luck
Anna
 

Danielle Keister

New Member
The ACA offers the original value-based pricing and packaging training, which I introduced to our industry back in the early 2000s. Over 4,000 people have freed themselves from the tyranny of the timesheet and multiplied their income with this training guide and blueprint, currently in its fourth edition and filled with sample scripts, examples, forms, lists, and case study. It will show you how to price and package, how and when to talk about fees with clients, how to raise your fees, how to transition current clients onto value-based pricing, and so much more. It's the simplest, most affordable, easy-to understand guide on the topic straight from the person who introduced the concept to our industry. Check it out here (be sure to also click on the link to see what colleagues say about this training): Value-Based Pricing & Packaging Guide: How to Price and Packaged Your Support Based on Value and Expertise — NOT Selling Hours

You can also get a free Income & Pricing Calculator here: Get Your Free Business Gifts
 
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