Rates and Billing

Discuss setting rates and find billing resources and information.

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Old 12-20-2008
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Company name: Virtually Linked
 
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Default Billing - Incremental, Hourly and Retainer
I've read some post about the types of billing methods. I initially thought to bill hourly and retainer, however I'm thinking I have to get my foot in the door with clients and I have to build my value with them first. Right now I do not have all the certifications (too expensive for the unemployed) and I do not have the testimonials as many of you do that proves your services and skills. Now I'm thinking I should offer all three because the incremental method might put my clients at ease. Sort of a get to know you first.

Thoughts.....

BTW I have a plan to ask former coworkers to write references for me and I will post it on my website and add it to my marketing campaigns. This will help me until I get client references.
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Old 12-22-2008
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Default Re: Billing - Incremental, Hourly and Retainer
Personally, I believe it's important to decide on your billing method beforehand and have it set in place right from the start. Then as you do get clients, you don't have to try to change it on them later.

Most VAs will bill by the hour or by retainer with a set minimum of one to two hours set in the policy. Most have a policy that regardless of whether its hourly or retainer, they bill in 6 or 15 minute increments. Some bill by the exact minute.

Also, I think you should bill according to what you believe your value is to them right now. If you know you bring value to the table, then charge your clients-to-be accordingly. If you have the confidence that you are worth it, then that shows and they will feel secure enough in knowing that you will bring value to them.

Hope this helps.
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Old 02-12-2009
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Default Re: Billing - Incremental, Hourly and Retainer
I agree with Kimberly - you can always adjust your setup later, once you have more experience working with it and decide if something does or doesn't work well for you - but having a specific plan set in place in advance will help you avoid headaches later with clients who 'misunderstood' your policies because they weren't clear enough.

Remember, you're the business owner so you want to establish your own policies and boundaries from the outset.
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