Rates and Billing

Discuss setting rates and find billing resources and information.

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    #101 (permalink)  
Old 04-29-2014
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Default Re: Calculating your rate
Thank you so much for the breakdown. I have to say that I've been a VA for several years and never really broke down everything like that, it's really stunning when you do it that way.
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    #102 (permalink)  
Old 05-21-2014
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Default Re: Calculating your rate
Office Goddess, your name fits you to a "T"! Thank you so much for the upfront calculations. I knew I'd have to pay taxes, but I had no idea they would take up so much of my income!

As a newbie, this information is priceless! Now I know that what I'm charging is right in line with where it should be. Like so many others, I struggled (and continue to struggle) with coming up with a figure that would accurately reflect the worth of my services. I thought it was too high, but thanks to your input, it's right on the mark...thank you, thank you, thank you!!

I'm going to take advantage of the spreadsheet, if it's still available... I need all of the help I can get

Cheryl
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    #103 (permalink)  
Old 06-09-2014
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Default Re: Calculating your rate
This was amazing! This makes sense for the hourly rate I set 6 months ago.
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    #104 (permalink)  
Old 06-23-2014
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Default Re: Calculating your rate
Thank you for sharing! Very helpful having the right perspective when setting rates
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    #105 (permalink)  
Old 07-03-2014
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Default Re: Calculating your rate
I've been thinking more about this and I've come to the conclusion that focusing on an hourly rate is not the right approach. We are supposed to be highly qualified professionals, charging by the hour doesn't make sense to me, there are only so many hours in a day and only so many of those hours available for actual "billable hours" -- after all, if you're running your own business, at least 2-3 hrs/day has to be devoted to that.

I've decided to focus on offering a customized menu of services for a reasonable monthly rate instead.

Anyone else thinking along these lines?

Lori
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    #106 (permalink)  
Old 07-03-2014
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Default Re: Calculating your rate
I guess it probably depends on your services. Some things I have been considering offering in a monthly package, like social media updating and things of that nature where there is a clear limit on how much time it will take me.

Where I would run into a problem is with the work that I do for attorneys. If I bill my assistance to attorneys as part of a flat rate per month, I could potentially short change myself. For instance, preparing one deposition summary could take me two hours and another could take me two days, depending on the deposition. I figure that if professionals like attorneys and CPA's can bill hourly, then it makes sense for me to bill that way too.

So I guess it really depends on the type of work you are going to do if charging a monthly flat rate would make sense for your business. Good luck!
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    #107 (permalink)  
Old 07-14-2014
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Default Re: Calculating your rate
Wow those costs are high. My mortgage is $600 and my cell bill is $12 a month. Have you ladies never heard of coupons? lol $200 for gas and groceries - you work from home. Where are you driving?! lol. I guess this may be a regional thing. No wonder my rates are so low. Maybe I should be charging as if I had all these expenses? lol
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    #108 (permalink)  
Old 07-14-2014
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Default Re: Calculating your rate
The one thing I think is too low is the $350 for health expenses. The cost of insurance needs to be considered as well.
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    #109 (permalink)  
Old 07-16-2014
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Default Re: Calculating your rate
Here is an awesome article I found online about Consultant Fees and calculating your rate. The breakdowns and variables that confirm your rate are very realistic and things that I hadn't even considered.

Happy Reading!

http://consultantjournal.com/blog/se...ting-fee-rates
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    #110 (permalink)  
Old 08-24-2014
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Default Re: Calculating your rate
Yet another helpful post! Thank you for that great example. I will definitely use this to calculate my rate
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    #111 (permalink)  
Old 09-17-2014
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Default Re: Calculating your rate
Thank you! The video has a lot of useful information.
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    #112 (permalink)  
Old 10-30-2014
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Default Re: Calculating your rate
This is a great template and can be applied to any currency/living situations by adjusting some items Thanks for this!
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    #113 (permalink)  
Old 03-17-2015
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Originally Posted by Office Goddess View Post
I believe you need to have 25 posts on VAF to be able to pm. Nonetheless, I have a free budget spreadsheet download on my book site. Click on the link below my signature and at the bottom of the page click on "I want the sample" to get the budget spreadsheet.
Office Goodness that is a phenomenal breakdown. I've always charged $50 per hour and $65-$100 for critical of labor intense work. I've never had an issue with a client paying me what I request. If you present yourself as being worthy of a $100 per hour you'll get it. Plus I do more than just general admin work.
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    #114 (permalink)  
Old 03-24-2015
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Default Re: Calculating your rate
I just joined this forum and this is exactly the issue that I am struggling with at the moment. Finding a balance between knowing your worth and over valuing the product has proven very difficult. Your breakdown is extremely helpful!
Thank you!!
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    #115 (permalink)  
Old 05-08-2015
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Default Re: Calculating your rate
Wow, this post is very beneficial as a soon to be open market VA. I will be assessing my next move based on this rate guide. All things start with a desire, but the rewards are in the details. Thank you!
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    #116 (permalink)  
Old 07-29-2015
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Default Re: Calculating your rate
Quick question: I'm a newbie and working on setting up my website. What's the general thought behind posting your rate online? I've visited a bunch of other VA sites and and I've seen it both ways so I'm not sure what would be my best way to approach it on my site. Thoughts?
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    #117 (permalink)  
Old 09-06-2015
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Default Re: Calculating your rate
This makes it very clear - thank you for doing this. Selling my services on Fiverr for $5/hour will NOT get me anywhere.
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    #118 (permalink)  
Old 11-04-2015
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Default Re: Calculating your rate
What a beneficial tool! Gosh, it helps so much to see things organized and broken down. Many, many thanks!
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    #119 (permalink)  
Old 02-03-2016
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Exclamation Re: Calculating your rate
Cannot thank you enough for the overview! The one thought that came to mind not included was "vacation time". I have not had a paid vacation since I left a corporate structure in 2010. So when the opportunity arises for some leisure time, my conscience does not let me enjoy it as much as I should! I thought it important enough to factor in the cost (or loss of income) for taking the equivalent of a two, or three, or six week vacation/sick bonus and the need to add it to my hourly fee - for a paid vacation! Thanks's again!
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