Welcome to another episode of the podcast that teaches you how to be a ridiculously good virtual assistant.
Today I want to talk about raising your rates without burning all your bridges down when you do it.
Today’s Quote: “They always say time changes things, but you actually have to change them yourself.” – Andy Warhol
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Connect with Tracey D’Aviero, VA Coach and Trainer
Episode Notes:
Here is our fourth and final episode in our four-part series on rates.
And of course, it is about how to raise yours if and when you need to … or want to!
Raising your rates does not require a dramatic announcement, a bold personality shift, or a confrontational conversation.
If you are stuck charging a rate you aren’t happy with, you probably feel all three of those things.
And if so, then I’m glad you are listening in today.
Today let’s talk about how raising your rates can feel calm, professional, and grounded when it is done from the right place.
Why Raising Your Rates Feels So Scary
Why does doing a price increase feel so scary?
For most virtual assistants, raising rates feels risky. Not because the number is wrong. But because it feels like you are changing the rules. And in a way you are.
You and your client agreed to a rate, and now you are changing that.
You worry about upsetting your clients, about losing work, about sounding greedy or unprofessional, maybe even about being seen differently.
You don’t want to rock the boat, perhaps.
So instead of raising your rates, you wait.
You wait until you have more experience. You put it off till it feels better, that you are more confident. You wait for a better time – ‘the right time’.
Well, the right time doesn’t always just appear. Sometimes you have to just decide that now is the right time.
Because of you are feeling stuck or stretched, then it probably is the right time. Right now.
How Rate Increases Work Best
Before you ever tell a client your new rate, something has to shift internally.
You need to believe that it is reasonable, that it reflects your growth and supports your business, and you need to believe that raising your rates will help you to show up better for your client or clients.
If you aren’t confident, or you are second guessing yourself, that becomes very evident to your clients. They can spot a lack of confidence a mile away.
Clients respond well to certainty. To clarity. To confidence. They respond less well to wishy washy.
When you have decided what your new rates will be, you can deliver that message clearly.
What “Burning Bridges” Actually Comes From
So let’s get to the burning bridges part of the title of this episode.
Bridges are not burned by the actual rate you are increasing. Let me repeat that.
Bridges are not burned by the actual rate.
When you overexplain, apologize, backpedal if they question you … that’s when those bridges start to get hot.
Your clients might feel confused or uncomfortable. You might feel uncomfortable.
So you have to be really sure about your rates so you can deliver the news with confidence, not by overexplaining why.
Not Every Client Is Meant to Come With You
The next part of this is really important too. And it’s probably one of the things keeping you stuck at your current rate.
Some clients will not continue with you at higher rates. Believe me when I tell you that’s okay.
It doesn’t mean you did something wrong. It means you are growing. Or maybe more accurately, you already grew and they aren’t there in that same space with you.
Clients come into your business for different seasons. Some are stepping stones. Some are long-term partners. Not all of them are meant to be your clients forever.
Yes of course, once I get a client, I want to work with them long-term.
But not all of them are meant to do that. They need help now. You are there to help them now.
So if you grow, or change, that doesn’t mean that they have too. And that’s totally okay.
Letting go of clients who no longer fit creates space. Breathing space. Space to grow. To better align with new clients. To do better work.
Doesn’t that feel like a good reason to do this? I can assure you, if you think you need to raise your rates, and then you do raise your rates, and that makes space for new great clients, you will simply kick yourself for not having done it sooner.
What Professional Rate Changes Actually Look Like
Professional rate increases are planned, communicated clearly, and built for growth and sustainability. I’m talking about long term clients here.
Professional rate changes are not emotional.
They are not reactive.
They are not defensive.
They sound like a business decision, because that’s what they are.
I can’t tell you when it’s time to raise your rates. Actually I don’t have to. You know when it’s necessary. And you have to decide to do it. Actually you get to decide to do it.
Clients may accept it easily.
They may ask questions.
They may decide to move on.
All of those outcomes are perfectly normal.
Once you get comfortable with that, then you will understand when it’s time to raise your rates. You will feel – confident!
Why Confidence Makes All the Difference
When you raise your rates from a place of confidence, something shifts.
You stop convincing, justifying, asking for permission.
You state your rate. You explain the scope and any changes to the current scope. And you allow your clients to choose.
That energy changes the entire conversation.
And often, clients respect you more for it.
When I doubled my rates overnight, it was nerve wracking. Of course it was! That was a huge change. And for someone who was stuck where I was because I didn’t want to have uncomfortable money conversations, how on Earth was I supposed to tell them their rates was going to double?
With the help of my business coach, of course.
First things first, my NEW rate was $50/hr. New clients paid $50 starting now.
That was one part of my new rate structure. But it was done. Easily. New clients would pay more starting today.
Then we decided how to approach each of my existing clients.
Who did I want to keep? Who did I want to let go?
It was easy to let go of some. I told them my new rate and told them I understood if they wanted to work with a different VA.
Then we moved on to the ones I wanted to keep. Some of them I moved to packages, some of them I suggested keeping me for high-level tasks only and getting someone new to do general admin- that would offset their monthly rate. And some I just told this is the new rate and they said no problem.
See if your clients value you, they will know when you are worth it. Some of mine just got it and said they knew they had gotten a deal for a long time.
Some said they couldn’t do it, so we raised their rates over a short period of time.
Most of them we adjusted the scope – what did we not need to do anymore, or what could the client do themselves? This was one of the best things I learned to do. It really helped me specialize my services and start doing only what I wanted to do.
As you can see, there are so many ways to have a confident discussion without burning any bridges. No smoke, no fire, nothing damaged.
Clarity Means Everything
Raising your rates does not require courage in the dramatic sense. It does require courage but when you have done the math around your rates and where they need to be, you get clear and then that clarity boosts your courage and confidence.
Let’s circle back to today’s quote: “They always say time changes things, but you actually have to change them yourself.”
It takes action for things to change in your VA business. If you don’t take action, you will stay right where you are.
It just comes down to one conversation. And like I said in one of the other episodes in this series, when that first client says yes, your confidence swells.
You smile. You get excited. At least that’s what happened for me!
For me, I had started at much too low a rate and I left it there for far too long.
So I knew why I had to raise it. And adjusting the scope of work was one of the tactics I used to create better rates. I highly recommend it!
Let’s zoom out for a moment.
Over this mini series, we have talked about:
Why your rates are not the real problem.
What clients actually think about your pricing.
The hidden cost of undercharging.
And now, how to raise your rates without burning bridges.
If pricing has been a recurring struggle for you, this is your sign to start looking at yours.
For a sustainable business you need solid rates.
So now is the time!
If you have been taking lots of notes throughout this four-part podcast series, that should tell you something important!
I want to remind you too, that just because you are struggling with rates it doesn’t mean you are doing something wrong.
All it means is your rates don’t match your services. Or your level of expertise.
Do You Need Help?
If pricing has been coming up for you as you listen to this mini series, then I’m glad you are tuning in today.
Most VAs don’t struggle with rates because they’re doing something wrong. They struggle because their pricing no longer matches the level of work they’re actually doing.
If that’s you, check out my Packages Workshop that I’m running in February.
In this workshop, we’re going to focus on turning your services into clear, confident packages that make pricing easier to communicate and easier for clients to say yes to. This is a hands-on workshop with your actual services – not templates.
Together we will create packages that reflect your experience, set clear work scope and boundaries, and help you stop feeling awkward around price discussions.
If you’re ready for your pricing to feel simpler and more aligned, I’d love to support you inside that workshop.
Check out the details and register here: YourVAMentor.com/va-packages. Or send me a DM and we can chat about it.
That’s all I’ve got for you this week, I’m Tracey D’Aviero, The Confidence Coach for Virtual Assistants. I’ll see you next time!