Raise Your Rates By 10%

raise your rates by 10%Another goal for your virtual assistant business I recommended for this year was to raise your rates by 10%. Whether you charge an hourly rate or project fees, you can increase your rates or fee and the beginning of a new year is an excellent time to raise your rates.

Build the expectation of a higher rate into your contracting with a clause similar to “rates and fees are subject to change with a 60-day notice”. I strongly suggest a 60-day notice to allow clients plenty of time to adjust and budget for the increased cost.

I’ve raised my rates several times over the years and always gave my clients plenty of notice. Never have I lost a client due to increasing my rates.

If you are charging an hourly rate, I recommend you move them to a project fee instead. Read my article “Moving Clients From Hourly Rate to Project Fee” at EzineArticles.com.

When did you last raise your rates? How much did you raise them by? How did your client(s) react? I want to hear from you!

 

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