Rates and Billing

Discuss setting rates and find billing resources and information.

Forum Sponsor (Advertise with us)
Reply
 
Thread Tools Display Modes
    #1 (permalink)  
Old 03-28-2012
New Member
 
Join Date: Jan 2012
Posts: 46
Default project work
I am a new virtual assistant still trying to get my first client. I have two different payment plans. Project work which is hourly with a minimum of 5 hours and 3 different monthly packages with discounts applied based on the amount of hours of the package. The project work is for 1 time jobs. There is no discount for them. Should I have a set amount of hours built into the project work? My project work is $.. per hour for 5 hours. Am I on track or should I increase the amount of hours?
Reply With Quote
    #2 (permalink)  
Old 03-28-2012
Contributing Member
Company name: Virtual Admin Connection
 
Join Date: Jan 2012
Location: Texas
Posts: 230
Contact this virtual assistant on LinkedIn
Default Re: project work
Hi Linda1988,
Just a couple of questions - How did you decide on the min 5 hours for project work? If a potential client wanted to hire you for a couple hours a week to start, would they have to go with the project work or is one of your packages for new clients? I am not sure what the more seasoned VA's do. I am interested to see the responses.

On a side note, do you ever respond to a post and during that post, you get a great idea? That just happened. I am thinking of the possibility of a retainer package for the potential new client.

Best of luck to you!
Reply With Quote
    #3 (permalink)  
Old 03-28-2012
LeeDrozak's Avatar
Community Leader
Company name: Lee Drozak Biz
 
Join Date: Aug 2008
Location: Western Pennsylvania
Posts: 3,296
Blog Entries: 13
Send a message via Skype™ to LeeDrozak
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn Find this virtual assistant on Google+ Find this virtual assistant on YouTube
Default Re: project work
linda1988,

I am confused about the project rate minimum of 5 hours. What types of services does this include? The reason I am asking is if you have a client who does not have 5 hours of work are you not going to take it?

I have project rates and retainer rates. Retainers are where my set hours come into play. Projects are just that, one time deals or the occasional help such as editing a video or audio, formatting a special report or eBooks. Sometimes they may only take only and hour but these projects help fill in the retainer gaps.
__________________
Lee Drozak
WHY GO IT ALONE?... I am here to help you get unstuck.
Reply With Quote
    #4 (permalink)  
Old 03-28-2012
New Member
Company name: On-The-Ball Administrative Specialists L
 
Join Date: Dec 2011
Location: Dahlonega, Georgia
Posts: 40
Send a message via Skype™ to OTBAS
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn
Default Re: project work
I agree with Lee -- by setting a minimum of 5 hours upfront, you might scare off your one-time client, or those wanting to test the waters and wet their feet. Task/Project rates are just that -- for one-time tasks and projects; projects can take 30 minutes or several hours, so enforcing a minimum number of hours might be going against what you are trying to do -- bringing on board new customers.

We have two rates -- pay-as-you-go (project) rate and a retainer rate. The "pay-as-you-go" rate is paid for at the end of the project; this is for customers that are not sure of their needs in time and want to wet their feet by throwing out a project or task here and there. Or it could be a retainer client that has a big project, that doesn't want to use up their retainer hours on that one project. And then we have the retainer clients, the ones that need consistent support throughout the month for a set number of hours, with the flexibility of sending over most type of work within that set number of hours.

So, while having a rate structure is good business sense, you still need to maintain flexibility to adapt to your clients' needs.
__________________
Janice Deckers | Owner
www.otbas.com
Reply With Quote
    #5 (permalink)  
Old 03-28-2012
Canary Admin Services's Avatar
Junior Member
Company name: Canary Admin Services
 
Join Date: Jun 2011
Location: Canary Islands, Spain
Posts: 473
Send a message via Skype™ to Canary Admin Services
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn Find this virtual assistant on Google+
Default Re: project work
I agree with the above comments. With project work, most offer a fixed price usually because they can gauge how many hours it will take to complete. When offering an hourly rate I have seen that many say that a minimum of one hour is always charged even if it only took you thirty minutes to complete. Whether you decide to go with 15 minute or 30 minute intervals after that is another decision but I think you'll put a lot of potential clients off by establishing a 5 hour minimum on projects and you stand to lose work because of it.

I offer three payment schemes myself: hourly (as I act as an interpreter and I never know how long a job might take), fixed price and retainer packages. The only limitations I place is a one hour minimum for projects paid by the hour but I offer reduced rates on retainer packages. I try to let clients see that I am aware of their individual needs and I'm willing to find the right rate to suit them.
__________________
Sabrina L. Williams
Your Property and Admin Needs Made Simple
Reply With Quote
    #6 (permalink)  
Old 03-28-2012
ClockwiseVA's Avatar
Junior Member
Company name: Clockwise Virtual Assistance
 
Join Date: Apr 2011
Location: Vancouver, WA
Posts: 489
Blog Entries: 1
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn
Default Re: project work
I recently set a 5-hour minimum for hourly (pay-as-you-go) clients with the intention of dissuading one-off clients or piecemeal work. It's a calculated decision for me as I figured by the time I get them setup, prepare contracts, and so on, it is not worth my time unless I have that guaranteed minimum. If they only have a small initial project but plan to have more work for me down the line, we could work out the 5-hour minimum as a deposit.

I am focused on attracting retainer clients and while I see the benefit of having one-off projects in between, I prefer to concentrate my time and efforts on building long-term client relationships, hence my policy.

I believe you have to do what works best for you. As long as you realize, like others have said, that you may lose a few potential clients. If you need the extra income to pay the bills, you may want to have less restrictions.
__________________
Linda
Clockwise Virtual Assistance
Reply With Quote
    #7 (permalink)  
Old 03-28-2012
New Member
 
Join Date: Jan 2012
Posts: 46
Default Re: project work
The reason that I set a minimum is I thought that after I paid taxes if I only had 1 hour to bill that I would be left with nothing. Some other posts agree with you, so if you think I will loose business, then I ' ll take that out of my payment plans.
Reply With Quote
    #8 (permalink)  
Old 03-28-2012
New Member
 
Join Date: Jan 2012
Posts: 46
Default Re: project work
The retainer packages are also for new customers.
Reply With Quote
    #9 (permalink)  
Old 03-28-2012
New Member
 
Join Date: Jan 2012
Posts: 46
Default Re: project work
Thanks for the advice. I was concerned that I wouldn't have anything left after paying taxes if I only charged for 1 hour. I am taking that out immediately.
Reply With Quote
    #10 (permalink)  
Old 03-28-2012
Protege Business Solutions's Avatar
Contributing Member
Company name: Protege Business Solutions
 
Join Date: Feb 2009
Location: Greenwood, IN
Posts: 59
Send a message via MSN to Protege Business Solutions
Follow this virtual assistant on Twitter Find this virtual assistant on Facebook Contact this virtual assistant on LinkedIn
Default Re: project work
Good comments. I have good results with the fixed rate because I do a lot of project work and the clients like knowing what it will cost them. Just be sure you are good at estimating how long it will take you, but this is something you will also learn as you go.
__________________
Bonnie
Protege Business Solutions, L.L.C.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
For those who work on a project basis reneeshupe Policies and Procedures 2 10-27-2010 12:11 PM
Project Template vs. Project Software Donovanassist Software and Apps for Business 7 01-08-2009 01:22 AM
CLOSED - VA Researcher for Private Co. (Single Project) Payment: Per Project Tess New RFPs - Members-Only 6 07-28-2008 01:38 PM
CLOSED - Copywriter site content review/edits (One time project) Payment: per project Tess New RFPs - Members-Only 0 02-05-2008 03:54 PM
CLOSED - Wordpress Setup and Installation (one-time project) - Payment: per project Tess New RFPs - Members-Only 0 01-09-2008 04:39 PM


All times are GMT -4. The time now is 07:43 PM.

Virtual Assistant Forums Advertising
Virtual Assistant Directory
Work from Home | Become A Virtual Assistant
Virtual Assistant Contracts
Virtual Assistant Forums Advertising

© Virtual Assistant Forums 2014 Content and images protected under copyright law.
Google+ - Facebook