raise your rates workshop 2017 - virtual assistant...

How to Confidently Raise Your Rates (and NOT Lose Clients)

LIVE Workshop – May 4, 2017

GO TIME IN…

Welcome to the workshop!

Lisa Wells

11 am – 12 pm: Money Blocks & Value Statement

12 – 1 pm: Pricing Strategies & Packages

1 – 2 pm: Step-by-Step in Asking for the Raise

(Breaks will be built-in to each session)

Agenda(All times Eastern)

• Download at:http://virtualassistanttrainer.com/ratesworkbook

Workbook

Mindset & Money Blocks; Values

Statement

What’s blocking the flow of abundance

and how to fix it

1

Bartering

Money Block #1

• Giving away services for free• Bartering or swapping• Negotiating with clients

• Giving away services for free• Bartering or swapping• Negotiating with clients

Homework:Decide here and now that you will stop bartering.

Bartering

Money Block #1

Sending Mixed Messages

Money Block #2

• Settling• Saying one thing but giving

energy to another

Sending Mixed Messages

Money Block #2

• Settling• Saying one thing but giving

energy to another

Homework:Choose a goal and then be clear and congruent.

Being Too Generous

Money Block #3

• Always picking up the tab• Putting yourself last

Being Too Generous

Money Block #3

• Always picking up the tab• Putting yourself last

Homework:Give yourself something (time, something beautiful, simplified life) and practice receiving.

Overindulging

Money Block #4

• Retail therapy• Food• Training/courses/ebooks

Overindulging

Money Block #4

• Retail therapy• Food• Training/courses/ebooks

Homework:Go on information diet and create a budget.

Giving Your Power Away

Money Block #5

• Contracts• Business advice• Setting rates in relation to

others

Giving Your Power Away

Money Block #5

• Contracts• Business advice• Setting rates in relation to

others

Homework:Stand in your power, you are worth it!

Surrounding w/ Poverty Mindset

Money Block #6

• Complain about money• Fearful, scared about debt• Outgrown mastermind

groups

Surrounding w/ Poverty Mindset

Money Block #6

• Complain about money• Fearful, scared about debt• Outgrown mastermind groups

Homework:Start with yourself; ATM; affirmations

• Get really clear and figure out EXACTLY what you want in great detail, be specific

• Come up with your Big Goal• Each day, write it down, each time imagining how it will feel to achieve

this goal• Read the big goal out loud, imagining all the details• Write down one BIG action step that I can take that day to make it

happen• Notice anything that comes your way, like a coincidence, a fortunate

happenstance or pleasant surprise related to the goal• Each day, write down how grateful and fortunate you are and what you’d

like to attract more of

How to Manifest

- My BIG Goal

My consulting business is bursting at the seams. Each month, 2 clients will buy Infusionsoft to help them in their business and happily pay for my Kickstart package.

“

“What makes you different from all the other VAs and why should I hire you?”

“Why do I always get the worst clients?”

“Yay life is awesome!”

• Who is your audience?

• “coaches and consultants”People

• Who is your audience?

• “coaches and consultants”People

• What are they struggling with?

• “Systems aren’t talking to each other, wasting time and money”

Problem

• Who is your audience?

• “coaches and consultants”People

• What are they struggling with?

• “Systems aren’t talking to each other, wasting time and money”

Problem

• What will happen after working with you?

• “No longer wasting money & on top of things”Post-Game

• Who is your audience?

• “coaches and consultants”People

• What are they struggling with?

• “Systems aren’t talking to each other, wasting time and money”

Problem

• What will happen after working with you?

• “Less confusion and more automation”Post-Game

• What service do you provide?

• “Business Freedom Booster” packagesPackage

I have a method for ________ to move them from ______________ to _________________ with my _________________________________________

(People)

(Problem) (Post-Game)

(Package)

I help ______________ with ___________ so that they can _________________________________________. I do this using my _______________________________.

(People) (Problem)

(Post-Game)

(Package)

My Simple Social Media course enables female small business owners to move from social marketing overwhelm to a step-by-step system and plan that will easily grow her business!

This package enables coaches to move from time-for-money burnout to high leverage by creating and launching informational webinars.

This service enables speakers to move from barely known to getting their voice heard with done-for-you podcast administration.

Identify any money blocks and strategies to overcome them

Work on value statement

Post questions in chat box

We will be starting Session 2 at12 pm ET

Pricing Strategies & Packages

Alternatives to structuring your offerings

2

- Quest ion to ask yoursel f

Who would I have to BE in order to charge the amount that I want to charge and attract the clients who will pay?

“

• Dream number• 4-Step Formula

Choosing Your Number

• How much to live the life that you want?Number

• How many hours do you want to work?Hours

• How many clients do you want to serve?Clients

• Number / hoursCalculate

4-Step Formula

Choosing Your Number

$5,000100 billable hours

5000 / 100 = $50

• No scheduling consistency• Reach burnout quickly• Penalizing yourself for being fast• Based on commodity

The problem with hourly…

• Based on time (number of hours)• Pros for the client

• Good for those just starting out• On a budget• Long=term VA

• Pros for you• Consistent cash flow• Set schedule• Easier to market

Retainer Model

• Cons for the client• Monthly payment even if they don’t provide the work• Not ideal for those who are cyclical or part-time

• Cons for you• Track time• Stop working when hours ran out

Retainer Model

Sample Social Media PackagesSt

arte

r Pa

ckag

e • 30-min assessment

• Profile Setup

• Optimize profile

• Custom graphics

Mai

nte

nan

ce P

acka

ge • Posting to social media sites

• Monitoring accounts

• Blogging

Pre

miu

m P

acka

ges • Includes

starter package

• Reputation Mgmt

• Metrics and reports

• Facebook Ad campaigns

• 3-month strategy game plan

Service Package

Quantifiable

Social media posts

Bookkeeping

Setup a shopping cart

“Up to 3” press releases

Support Package

Hours vary month to month or cyclical

Great for tech VA clients

Approximate hours by interviewing client

• Require a much higher level of service• Incentive is earned and not given• Proven business model with steady and quantifiable

revenue streams• First 90 days, pay is based on a flat rate based on

approximate number of hours• Eg. 30 hours x $50/hour = $1500

• After 90 days, reduce flat rate and introduce incentive pay• Eg. $1000 base rate + 7% commission on product

sales

Incentive Model

Calculate new hourly rate

Brainstorm packages

Post questions in chat box

We will be starting Session 3 at1 pm ET

Step-by-Step Process in Asking

for the Raise

If you believe you deserve it, they will too..

3

- S l ight ly t imid e-mai l

Hi Barb, just wanted to

let you know I’ll be

raising my rates.

Sorry to have to do this

but, well, you know how it

is.

“

• What if I don’t know what my value is?• Ask your clients• Use your testimonials• Look at what those who have worked with you

have said• What if you don’t have any clients?

Finding Your Value

• You have to BELIEVE in yourself• Have a clear and UNIQUE selling point• Sell VALUE not money

Value Tips

• List your education, both formal and informal• College Classes• Seminars (online & offline)• Books• Courses (online & offline)• Events• Degrees & Certifications

Finding Your Value

• List your experience• Classes you’ve taught• Speeches you’ve given• Webinars• Blog posts• Articles published• Forums that have been shared or feedback

Finding Your Value

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Finding Your Value

http://varecommends.com/fascinatePromo code: IGNITION

http://varecommends.com/fascinatePromo code: IGNITION

(expires in November 2015)http://varecommends.com/fascinate

Promo code: IGNITION

(expires in November 2015)

Ask your client how you can improve your work with them.1

• Survey or email, doesn’t have to be formal

• Ask if there’s anything they’d like you to do differently

• If budget was no concern…• Provides valuable insights!

Research and document information and stats.2

• Time saved• Revenue generated• Number of new clients /

followers / likes• Decrease in unhappy

customers or product returns

Figure out what client wants and how you can offer it for free.3

• Review ‘wishlist’ items from client

• Choose one item• Brainstorm offerings

Ask for the raise – in a phone call or in an email.4

• Repeat back to them what they wanted and new complimentary service

• Indicate selectivity and mention stats

• State your new rate• Offer to refer them

Q&A

Bring it.

4

• Replay links• PowerPoint slide deck• Workbook• Transcript• Samples, Scripts & Templates

Replay, Links & Resources

http://virtualassistanttrainer.com/ratesworkshop-may2017/

Bonus Q&A CallThursday, May 11th

2 – 3 pm ET