I have been having trouble setting prices because I can't get over a general unease of charging by the hour, especially in the niches I have chosen (which include a lot of research/specialized knowledge). For straight data entry, word processing (that is typing/formatting only), and transcription, by the hour seems most appropriate, but for research, document creation and prep that includes content, and consultation...I just don't know.

For example, researching X may take me only 10 minutes because I know the sites, databases, and agencies to go to. That same research may take someone else hours or days because they don't know the resources. It has taken me years to get to this point. Seems that if I charged by the hour, I would be selling this talent and knowledge short.

Another example is a specific document I am offering. Now that I have done the research (including state statutes), and created a form that includes all legally necessary items, it will take me 5 minutes to input the info and print the thing. How do I charge for the research and creation of the form? I am thinking I should charge a flat rate for this specific document, say 25.00. Another research service I will be offering may take 20 minutes one time, and several hours the next....a retainer may be appropriate for this particular service but then I am all over the map as far as pricing.

I think many of the services VA's have mentioned offering here, are more along the lines of consultants, and should charge as such. How do you ensure you are getting paid for your knowledge and expertise, and past time gaining the knowledge, and not just your time spent on the task? Minimums maybe?

Hi BinAL, in some regards I understand what you are saying. I'm also a licensed investigator and I do research intensive tasks. I struck a deal with one person to perform expert witness background checks for X amount, because they had several to do. I'm doing one a week basically. The last one took sooo long that I probably made minimum wage on it just because this person was literally extremely prolific with a resume along over 50 pages.

Now, this last one could just as easily have been someone who just graduated and I would have done well (yeah, but for some reason the former always seems to be my case than the later :-)

So it's hard with research intensive tasks to know what you really have until you start to look.

I'm learning as I go. You may be on to something with your minimum though. With research intensive tasks often times you have no idea until you start what you are actually dealing with.

This is something I've been wondering myself (not that I'm an investigator). A lot of VA's say that they start at a certain price per hour and then the do individual consultations to come up with a personalized rate scale. This will allow you to weigh the client's request with what your services are worth. If you're dealing with is something that you've spent a while streamlining (a form as you said that took a lot of background time to create and fine tune) but only a few minutes to put together for a current client, maybe it would be best to charge a flat rate for that particular document.

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Stephanie
New VA in the research phase :daisy:

I had a conversation recently with a VA who stated that her rate is her rate because it has taken years to gain all the knowledge and skill that she had. To your point, that made me think also think about how to charge for projects based on knowledge versus time. Off the top of my head, would it make sense to say research 0-1 hours is X and and then 2-5 is Y. This is a very good question and I am interested in what other people have to say!

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Doreen R. Patrick, MVA, ACS, CIVA
www.virtualbusinesspartners.net

In networking groups I've heard VA's say that if they do a particular task 1 time and it takes them X hours, the next time they do that task they will charge for X hours even though it takes them less time. I'm talking about something like setting up a website or similar repetitive tasks.

I'm not sure if agree with this, just throwing it out there.

Deirdre

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Deirdre's Virtual Office

Originally Posted by StephanieP

This is something I've been wondering myself (not that I'm an investigator). A lot of VA's say that they start at a certain price per hour and then the do individual consultations to come up with a personalized rate scale. This will allow you to weigh the client's request with what your services are worth. If you're dealing with is something that you've spent a while streamlining (a form as you said that took a lot of background time to create and fine tune) but only a few minutes to put together for a current client, maybe it would be best to charge a flat rate for that particular document.

Once you create the form, set a price to it and charge that price even though you may only have to tweak it a bit. I create forms and they're very time consuming. I just recently did a Residential Rental Agreement. If someone wanted a copy of it (other than my client, I would sell it to him/her at the cost of what I charged my client - 3 hours/$90). My client said it was worth every penny. Time is money - and to her, the ease of filling it out on the computer was a God send. I am sure that a similar client would feel the same way.

cjherzog, I was wondering, this is off subject, but what do you use to create your forms?

BinAL I think you are on the right track here. There are some tasks that I charge per hour but then there are others that I charge per project. Website design, e-newsletter design etc is a good example where the more efficient you become, the more you short change yourself. Its for this reason why I charge per project for these 'tasks'.

There is nothing that says you can't have a combination of the two on your rates sheet. Do what feels right for you and your business.

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Kylie Short
Tilda Virtual Services - Making virtual personal

What Kylie said is true. For example there are many transcriptionists that type faster than I do. But they make more and not less as transcription is commonly billed based on the project; i.e., the audio hour or page.

Originally Posted by carmela1221

cjherzog, I was wondering, this is off subject, but what do you use to create your forms?

Good morning Carmela1221,

I use Microsoft Word to create my forms. The reason is, is because most people have Word and can make minor changes if need be. I could use Adobe but found it very limiting since most people only have Adobe Reader. I have recently purchased MS Office 2007. It has some really neat features when creating forms, amongst other cool things. 2007 is different from earlier versions, but once you start using it, I have found it very easy. Micrsoft has some great tutorials on-line (free) to learn 2007 version. Here's the site: http://office.microsoft.com/en-us/tr...px?ofcresset=1. Another FYI is that when using MS Office 2007 you can save your work in earlier versions so it can be used/viewed by those that don't have 2007.

Make it a great day!
Connie