{"id":4151,"date":"2024-07-25T19:00:00","date_gmt":"2024-07-25T23:00:00","guid":{"rendered":"http:\/\/www.yourvamentor.com\/blog\/?p=4151"},"modified":"2024-07-31T21:29:52","modified_gmt":"2024-08-01T01:29:52","slug":"podcast-the-good-and-the-bad-of-package-pricing-for-virtual-assistants","status":"publish","type":"post","link":"https:\/\/www.yourvamentor.com\/blog\/2024\/07\/podcast-the-good-and-the-bad-of-package-pricing-for-virtual-assistants\/","title":{"rendered":"Podcast: The Good (and The Bad) of Package Pricing For Virtual Assistants"},"content":{"rendered":"\n<p>Welcome to another episode of the podcast that teaches you how to be a ridiculously good virtual assistant. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Today I want to talk about packaging your VA services &#8211; what\u2019s good about it, and what\u2019s not so good about it. <\/h3>\n\n\n\n<p style=\"background-color:#dce0e2\" class=\"has-background\">Today&#8217;s Quote: You are not in the &#8216;convincing&#8217; business. You are in the &#8216;clarity&#8217; business. &#8211; Chris Do <\/p>\n\n\n\n<iframe loading=\"lazy\" title=\"Embed Player\" src=\"https:\/\/play.libsyn.com\/embed\/episode\/id\/32272782\/height\/128\/theme\/modern\/size\/standard\/thumbnail\/yes\/custom-color\/04949a\/time-start\/00:00:00\/hide-playlist\/yes\/font-color\/FFFFFF\" height=\"128\" width=\"100%\" scrolling=\"no\" allowfullscreen=\"\" webkitallowfullscreen=\"true\" mozallowfullscreen=\"true\" oallowfullscreen=\"true\" msallowfullscreen=\"true\" style=\"border: none;\"><\/iframe>\n\n\n\n<p>Click the play button above to tune in, or choose your favourite podcast player below:<\/p>\n\n\n\n<a href=\"https:\/\/open.spotify.com\/show\/2vbBeibF7umX44eHXDeXHa\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/www.yourvamentor.com\/wp-content\/uploads\/2022\/07\/Spotify.png\" alt=\"Spotify\" title=\"\" border=\"0\" width=\"60px\" align=\"\"><\/a> &nbsp;\n\n<a href=\"https:\/\/podcasts.apple.com\/ca\/podcast\/the-ridiculously-good-va-show\/id1635563103\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/www.yourvamentor.com\/wp-content\/uploads\/2022\/07\/apple-podcast.png\" alt=\"Apple Podcasts\" title=\"\" border=\"0\" width=\"60px\" align=\"\"><\/a>\n\n<a href=\"https:\/\/www.iheart.com\/podcast\/263-the-ridiculously-good-va-s-99637625\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/www.yourvamentor.com\/wp-content\/uploads\/2022\/09\/iheartradio-icon.png\" alt=\"I Heart Radio Podcasts\" title=\"\" border=\"0\" width=\"60px\" align=\"\"><\/a>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Connect with Tracey D&#8217;Aviero, VA Coach and Trainer<\/h3>\n\n\n\n<a href=\"http:\/\/www.facebook.com\/yourvamentor\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"http:\/\/www.yourvamentor.com\/wp-content\/uploads\/2012\/06\/facebook_logo-1-e1428604663756.png\" alt=\"Facebook\" title=\"\" border=\"0\" align=\"\"><\/a> &nbsp;\n\n<a href=\"http:\/\/www.twitter.com\/Tracey_D\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"http:\/\/www.yourvamentor.com\/wp-content\/uploads\/2012\/06\/new-twitter-logo-e1428604645161.jpg\" alt=\"Twitter\" title=\"\" border=\"0\" align=\"\"><\/a> &nbsp;\n\n<a href=\"http:\/\/www.linkedin.com\/in\/traceydaviero\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"http:\/\/www.yourvamentor.com\/wp-content\/uploads\/2015\/04\/linkedinicon-e1428604864511.jpg\" alt=\"LinkedIn\" title=\"\" border=\"0\" align=\"\"><\/a> &nbsp;\n\n<a href=\"https:\/\/www.instagram.com\/yourvamentor\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/www.yourvamentor.com\/wp-content\/uploads\/2022\/07\/instagram.jpg\" alt=\"Instagram\" title=\"\" border=\"0\" width=\"25px\" align=\"\"><\/a> &nbsp;\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/www.yourvamentor.com\/blog\/wp-content\/uploads\/2024\/07\/TRGVAS-Episode-112-Cover-1-300x300.png\" alt=\"The Good (and The Bad) of Package Pricing for VAs\" class=\"wp-image-4154\" srcset=\"https:\/\/www.yourvamentor.com\/blog\/wp-content\/uploads\/2024\/07\/TRGVAS-Episode-112-Cover-1-300x300.png 300w, https:\/\/www.yourvamentor.com\/blog\/wp-content\/uploads\/2024\/07\/TRGVAS-Episode-112-Cover-1-1024x1024.png 1024w, https:\/\/www.yourvamentor.com\/blog\/wp-content\/uploads\/2024\/07\/TRGVAS-Episode-112-Cover-1-150x150.png 150w, https:\/\/www.yourvamentor.com\/blog\/wp-content\/uploads\/2024\/07\/TRGVAS-Episode-112-Cover-1-768x768.png 768w, https:\/\/www.yourvamentor.com\/blog\/wp-content\/uploads\/2024\/07\/TRGVAS-Episode-112-Cover-1-1536x1536.png 1536w, https:\/\/www.yourvamentor.com\/blog\/wp-content\/uploads\/2024\/07\/TRGVAS-Episode-112-Cover-1-2048x2048.png 2048w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Episode Notes:<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">Are you charging your clients by the package yet?<\/h3>\n\n\n\n<p>It\u2019s a big topic with VAs &#8211; and there are arguments for and against doing it.<\/p>\n\n\n\n<p>I\u2019ve never been a supporter of VAs moving away from charging by the hour, like a lot of other coaches.<\/p>\n\n\n\n<p>You can charge your clients any way you like.<\/p>\n\n\n\n<p>If you want to charge by the hour, no one can tell you it\u2019s wrong.<\/p>\n\n\n\n<p>However, when you reach out to me and say you aren\u2019t making enough money, it\u2019s going to be something we look at.<\/p>\n\n\n\n<p>Just like if you reach out to me to say you want to start charging by the package, we are going to look at that too.<\/p>\n\n\n\n<p>First let\u2019s talk about the reasons you might want to charge by packages:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1- Predictable Income<\/h3>\n\n\n\n<p>When your clients are paying by the package they pay you a certain amount every month, or every time they need that package of tasks completed.<\/p>\n\n\n\n<p>It definitely makes it easier to determine how many clients you need, or can work with, when you have a set amount that each of them will pay you.<\/p>\n\n\n\n<p>You can do better planning, and manage your money and your business in general, more efficiently.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2- Deliverable Pricing<\/h3>\n\n\n\n<p>When you move to packages, the client will then get used to you telling them what tasks you will do for them, and the frequency of those tasks (ie daily client care, weekly reporting, monthly newsletter, etc).<\/p>\n\n\n\n<p>This puts the focus on the actual thing being done, more than the time it takes to do it. So you can talk about the benefits that the client will get by having you do this or that.<\/p>\n\n\n\n<p>Deliverable pricing also helps you with your pricing, because as we know if you are charging for your time, the better you get at anything, the less time it usually takes you to do it. Which means that the same task you charged a client an hour for last month might only get you 45 minutes this month.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3- Efficiency<\/h3>\n\n\n\n<p>Being able to manage your schedule and task list for all clients is often made easier by charging by the package.<\/p>\n\n\n\n<p>Finding solutions to help you work more efficiently can allow you to give yourself a raise &#8211; the faster you work, as long as the quality of the work remains the same, nets you more money per hour. You will never be penalized for getting your work done quickly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4- Client Commitment<\/h3>\n\n\n\n<p>When a client feels supported and isn\u2019t micromanaging how much time you are spending doing their work every day, their commitment to working with you often gets elevated.<\/p>\n\n\n\n<p>You can work long term with clients who value you and the work you are doing for them &#8211; and packages are really awesome for setting and managing client expectations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5- Simplified Billing<\/h3>\n\n\n\n<p>The invoicing or billing procedure will be much simpler when you switch to packages. It makes it easier to just generate an invoice for a client, rather than detailing every last thing you did for them. Detailed time tracking isn\u2019t necessary when you talk in deliverables and frequency of task.<\/p>\n\n\n\n<p>The client also gets used to working within their budget that you both agree to, which makes things so much easier. Nothing like a client asking you \u2018how much will this cost me\u2019 or ticking hours off a retainer when you can just assure them that these are the things you will do for them every month. No more micromanaging the invoice, yes please.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6- Clear Expectations<\/h3>\n\n\n\n<p>Setting and managing your client\u2019s expectations is always a big part of running a VA business. We have enough to manage with fitting their work into our schedule, we don\u2019t want to have to manage conversations about time used to money either.<\/p>\n\n\n\n<p>Clear packages set clear expectations around deliverables, budgets, payments, and more &#8211; leading to better communication between the two of you, and is so much more satisfying.<\/p>\n\n\n\n<p>Remember today\u2019s quote: You are not in the &#8216;convincing&#8217; business. You are in the &#8216;clarity&#8217; business. Clarity really is everything in business.<\/p>\n\n\n\n<p>When we offer our clients what they need and they understand that, there is no convincing needed. It makes your discovery calls and sales conversations so much easier.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Creating packages sounds great, doesn\u2019t it!?<\/h3>\n\n\n\n<p>And it is.<\/p>\n\n\n\n<p>When you set up packages and work within them, so much gets easier with your client relationships.<\/p>\n\n\n\n<p>But there are also a few things (the BAD) that we need to address.<\/p>\n\n\n\n<p>Because creating packages isn\u2019t always the best solution at the time.<\/p>\n\n\n\n<p>Here are a few challenges that come with charging by the package:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1- Scope Creep<\/h3>\n\n\n\n<p>Now I know I just told you about deliverables and frequency &#8211; but one of the questions I get about \u2018all the other stuff the client needs\u2019. Your package should define what the client will get, but if you do a custom package for a client, you might be inclined to add other stuff that they need &#8211; mainly because you don\u2019t know how to charge for it.<\/p>\n\n\n\n<p>I advise you to create a \u2018bucket\u2019 for miscellaneous tasks, if your client tends to have a lot of one-off stuff. Set an amount of time for that, that you will spend, and if the client doesn\u2019t use it, they lose it.<\/p>\n\n\n\n<p>Scope creep is one of the biggest issues that VAs face &#8211; and it comes down not defining the exact tasks you will do for your clients. The better you can get at saying NO, the better. Boundaries will be your best friend as a VA. But a miscellaneous bucket helps. When their time is up, they need to buy more of your time.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2- Pricing Accuracy<\/h3>\n\n\n\n<p>Most definitely one of the biggest challenges with a package.<\/p>\n\n\n\n<p>If you think you can just set a price that sounds good, you could struggle with this.<\/p>\n\n\n\n<p>I advise VAs like you to actually cost out their packaged services &#8211; how long does it take you to do it? Multiply that by your billable rate. That\u2019s how much the client has to pay to get that service done (each time).<\/p>\n\n\n\n<p>Accurately estimating the time and resources you need to provide that service is essential &#8211; and then of course the next piece is once you set that estimated time, you need to work within it!<\/p>\n\n\n\n<p>Don\u2019t think that setting package pricing means no more time tracking. You have to make sure you are working within your estimates in order for your package price to remain profitable.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3- Client&#8217;s Perception of Value<\/h3>\n\n\n\n<p>Clients like time. Hours. They feel like they are controlling their budget by keeping tracking of how much time you use &#8211; every penny counts! It\u2019s their money, it\u2019s okay.<\/p>\n\n\n\n<p>And making sure that your clients see the value of a package over you timing yourself all day long is your responsibility as the VA.<\/p>\n\n\n\n<p>Communicating with them using the words deliverable, budget, and more can help. If you are struggling with your clients feeling comfortable not knowing how much time you are using, get some help to figure out the language you need to be using to do it.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4- Initial Time Investment<\/h3>\n\n\n\n<p>Creating your packages can take time &#8211; because I advise actually pricing each service based on the time it takes you to do it. The longer you have been in business, the better you can estimate things like this, but if you are just starting out, it can take longer to estimate well.<\/p>\n\n\n\n<p>Of course I always suggest if you are just starting out, not to set up packages. Billing by the hour really is the best option before you know what you\u2019re doing. But this episode is about packages! So let\u2019s keep going.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5- Miscellaneous Services<\/h3>\n\n\n\n<p>I talked about this earlier but I wanted to explain it a bit better. When clients feel that they have things that need doing that don\u2019t fit into your existing packages, they might shy away from buying one. But when you consider that miscellaneous bucket, that can take care of their needs.<\/p>\n\n\n\n<p>Often what I would do with clients is do stuff in that bucket for a while and then figure out what to call it, and just add it to their package. You can do the same &#8211; or just keep it as miscellaneous.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6- Risk of Overworking<\/h3>\n\n\n\n<p>I said it before and I\u2019ll say it again &#8211; it is your responsibility once you set a time to do something, to get it done within that time frame. If you say the client\u2019s email should take an hour a day, then you have to get it done in that hour.<\/p>\n\n\n\n<p>If it does take you longer, keep an eye on it &#8211; your pricing could be wrong, and you might need to adjust it. Or maybe you can find ways to work more efficiently. Timing is important.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">7- Client Expectations<\/h3>\n\n\n\n<p>Managing your client\u2019s expectations about everything you do for them is crucial. It helps you with communication, with time management, with money, and with everything else.<\/p>\n\n\n\n<p>Making things clear in your packages, your contract, and all of your communication will help your clients understand what is included \u2026 what is excluded.<\/p>\n\n\n\n<p>I like to advise talking in the language I\u2019ve been using through this episode &#8211; deliverables, tasks, frequency of task, that type of thing.<\/p>\n\n\n\n<p>When you can describe things clearly, it will make sense to everyone, and you will have fewer conflicts.<\/p>\n\n\n\n<p>I\u2019ll stop here with the challenges &#8211; but it is really important to understand that creating packages doesn\u2019t solve all your problems.<\/p>\n\n\n\n<p>A lot of VAs think if they have any of these challenges now that creating packages will magically make them all go away.<\/p>\n\n\n\n<p>They won\u2019t.<\/p>\n\n\n\n<p>Again we\u2019ll go back to today\u2019s quote: You are not in the &#8216;convincing&#8217; business. You are in the &#8216;clarity&#8217; business.<\/p>\n\n\n\n<p>I can\u2019t agree with Chris more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The more you get clear about everything in your business, the easier everything becomes. <\/h3>\n\n\n\n<p>Clear in describing your deliverables, clear on how it helps your client, clear on what they should expect, and clear on what happens when things go wrong or aren\u2019t included.<\/p>\n\n\n\n<p>Is it time for you to create packages for your VA business?<\/p>\n\n\n\n<p>It might be. It might not be.<\/p>\n\n\n\n<p>I hope I\u2019ve given you some information that helps you make the decision for yourself.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Do You Need Help?<\/h3>\n\n\n\n<p>If you need help assessing whether it\u2019s time to create packages for your business, get in touch with me. I\u2019m here to help. <\/p>\n\n\n\n<p> It\u2019s the only reason I\u2019m here at all, as you know. To help you become a ridiculously good VA. <\/p>\n\n\n\n<p>I have helped hundreds of VAs who are stuck get moving through private coaching, group coaching, and live and self study trainings. If you want to talk about how we can work together, let\u2019s connect on a Cut to the Chase call. You can book yours at&nbsp;<a href=\"http:\/\/yourvamentor.com\/chase\" target=\"_blank\" rel=\"noreferrer noopener\">YourVAMentor.com\/chase<\/a><\/p>\n\n\n\n<p>Thanks for tuning in this week! I\u2019ll see you next time!<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u200cWhat You Need to Do Next:<\/h3>\n\n\n\n<p>PRIVATE COACHING: Let&#8217;s work together privately to get you to your really big goal. It&#8217;s the fastest way to get results and we can start right away. <a href=\"https:\/\/yourvamentor.com\/services\">Learn more about private coaching here<\/a>. <\/p>\n\n\n\n<p>GROUP COACHING MASTERMIND: <strong>The Virtual Circle<\/strong> is a group coaching mastermind option that costs less than private coaching, and can help you achieve the goals you set for yourself. We have one group training call and one group coaching call each month that will help you set goals and plan and implement the action steps to achieve them. There is also a VIP level of TVC that includes a monthly private coaching call, if you want a little extra personal attention. Check it out here: <a href=\"https:\/\/yourvamentor.com\/TVC\">https:\/\/yourvamentor.com\/TVC<\/a>. We&#8217;d love to have you join us!<\/p>\n\n\n\n<p>MONTHLY EMAIL MEMBERSHIP: I also have a brand new low-cost monthly membership program that will help you build your VA business &#8211; and it doesn&#8217;t require you to be on social media! It&#8217;s an email membership that I call&nbsp;<strong>The Virtual Toolkit<\/strong>! Every Monday morning you&#8217;ll receive a lesson and a downloadable resource in your inbox, that you can use to take a step further in your VA business. I&#8217;ve created TONS of amazing resources for you &#8211;  from business foundations and building resources (financial stuff, calculators, productivity, tech tips and tools, website planning guide) to marketing tools (branding worksheet, blogging templates, content calendar, client acquisition, marketing campaign planner) to advanced business skills (package planning, branding tools, onboarding checklist, seo checklist, client management) and personal growth stuff (goal setting worksheet, networking, speaking tips and tools, conflict resolution tips). <strong>All of this is available to you for just $9 a month!!<\/strong>&nbsp;You get your first resource as soon as you register, and every Monday morning after that you&#8217;ll get a fresh new one.&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/yourvamentor.com\/thevirtualtoolkit\" target=\"_blank\">Get more details and sign up here now!<\/a> <\/p>\n\n\n\n<p>SELF STUDY PROGRAM: My self study program Getting Started as a VA can help you get your VA business started easily and quickly too. You can sign up right away and be on your way to getting clients by the end of the program, with all the right foundations in place. <a href=\"https:\/\/getstartedva.com\">Check out the program here.<\/a><\/p>\n\n\n\n<p>COMPLIMENTARY CONSULT: Reach out to me if you need to talk about where you are stuck and what the right option might be to get you moving. It\u2019s literally all I\u2019m here to do is help you get to where you want to go. <a href=\"https:\/\/yourvamentor.com\/15-min\">Book a complimentary Cut to the Chase call with me here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to another episode of the podcast that teaches you how to be a ridiculously good virtual assistant. Today I want to talk about packaging your VA services &#8211; what\u2019s good about it, and what\u2019s not so good about it. Today&#8217;s Quote: You are not in the &#8216;convincing&#8217; business. You are in the &#8216;clarity&#8217; business.&hellip;&nbsp;<a href=\"https:\/\/www.yourvamentor.com\/blog\/2024\/07\/podcast-the-good-and-the-bad-of-package-pricing-for-virtual-assistants\/\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Podcast: The Good (and The Bad) of Package Pricing For Virtual Assistants<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"off","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[240,56],"tags":[322,321,241],"class_list":["post-4151","post","type-post","status-publish","format-standard","hentry","category-podcast","category-service-offerings","tag-creating-packages-for-vas","tag-package-pricing-for-virtual-assistants","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Podcast: The Good (And The Bad) of Package Pricing for Virtual Assistants<\/title>\n<meta name=\"description\" content=\"Are you charging your clients by the package yet? In this episode, we talk about what to consider - the good and the bad. It might be time for you, or it might not be.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yourvamentor.com\/blog\/2024\/07\/podcast-the-good-and-the-bad-of-package-pricing-for-virtual-assistants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Podcast: The Good (And The Bad) of Package Pricing for Virtual Assistants\" \/>\n<meta property=\"og:description\" content=\"Are you charging your clients by the package yet? In this episode, we talk about what to consider - the good and the bad. 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