How do I charge for my services?

[asharene]

I have totally no clue as to what is a decent rate for virtual services - I would think anywhere between $20 and $40 U.S., but how do I know what to charge for data entry - per record or per hour? And what is a decent rate - one that gets the job but allows for profit too?

[Lori]

Hi Carole,

I have totally no clue as to what is a decent rate for virtual services - I would think anywhere between $20 and $40 U.S., but how do I know what to charge for data entry - per record or per hour? And what is a decent rate - one that gets the job but allows for profit too?

This is the hardest question for everyone I think. There are a lot of factors to take into consideration when pricing your services. One of the best ways to find out what the going rate is on projects is to check out some of the freelance gig markets. There is a good list of them here: http://www.freelancemom.com/gigs.htm.

Some of the factors to take into consideration are:

1. Your modem speed - definitely charge less if you are on dialup because you won't be able to compete with the speed that other VA's can complete projects.

2. The client - if they are hiring your directly for their own business they usually have a larger budget. If you are completing over flow work for another VA then usually you just talk with them about their budget for the project.

3. The type of project. Design is worth more then updates. Copywriting is worth more then data entry. Research is worth more then typing... ETC.

Anyone have other thoughts?

You don't want to sell yourself short (I'm not one to give advice there!!!), but at the same time, you want to give the client a deal so that you get more work.

What many of us have done is bidded low to begin with. Then as our clients increase, so does our rate until we reach a rate we are comfortable with. You can then give your clients notice that your rate will increase and vow never to take a job below x again...

This is a big market really! If you have the skill and savvy - it's very possible to make a decent living and continue to grow your skill sets.

Good luck!

Lori

[Nellers]

I think it depends on your target market. I have a friend whose target market is lawyers and she charges much more then myself. My target market is other work at home moms. I really do think your target market should play a large factor as to what you charge.

[Lori]

Great Point Nell! :)

I think it depends on your target market. I have a friend whose target market is lawyers and she charges much more then myself. My target market is other work at home moms. I really do think your target market should play a large factor as to what you charge.

[Mel]

I think you all have made valid points.

I have struggled with this very question so many times and still do on occasions. I charge a flat hourly rate because of the type of work that I do. Most of my clients will say "I need this done and work on it for 2 hrs". How I finally decided on a rate was to first see what my niche market could afford and then see how much I needed to make to cover my expenses, taxes and still leave me with enough to justify working and split the two directly in the middle.

I also offer a discount for the first project and for my retainer clients plus my rates are always negotiable because I feel that everyone should be able to get help if they need it and sometimes those that are struggling now will be your most loyal clients later.

[Nellers]

Great points Mel! Thanks for coming over here to share :D