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Tips for New VAs - Things to Consider When Setting Your Rates

Deciding how to set your rates can be challenging when you are just starting as a new VA.
Here are 3 things to consider when setting your rates:

Start with your monthly expenses. Remember to allow for all the expenses that take place in your business. Things like subscriptions for email programs, bookkeeping, Internet, graphic design, office supplies, etc. Many of these can be claimed on your year-end taxes. You must charge more than the bare minimum to cover these expenses otherwise you will come up short at the end of each month.

Do market research. Reach out directly to other VAs who provide similar services. Without a direct conversation, you may not have an accurate idea of their skill level or how it compares to your own. Research helps you see the going rate for the services you want to provide.

Develop procedures. Creating procedures makes you more efficient and streamlines your processes. Instead of guessing, you will know how long a certain task actually takes to accomplish. You will be more accurate in costing for that project. And, if you subcontract work to others, you can tell them how long a task should take to complete.

For more information on setting your rates, download my How Much Should I Charge training package: https://www.yourvamentor.com/rate-cal...