Work from Home: Online jobs and small business management tips for the entrepreneur.
One of the most frequent questions I receive from those who are trying to start or grow their own consulting business is: “How and what do you charge clients for your consulting services?”
The ways of billing clients are numerous. There are hourly rates, by-the-job fixed rates, contingency or performance arrangements, flat fee plus expenses, daily fee plus expenses, and many other methods of charging for your consulting services. Which one is best?
by Lisa Taliga
It’s that time of the year when I sit down with my accountant and see how much money I’ve earnt over the past 12 months. It’s been a profitable year – my most profitable yet. If I had known that I could be making this much money from the comfort of my own home, I would have started this business much, much sooner.
Why am I telling you this? Because looking at those figures, I have something very important to tell you. My business would not be anywhere near as profitable if I had not set my rates to the right level. Don’t get me wrong, I am not overcharging by any means. But what I AM doing is valuing my time and expertise. And that doesn’t come cheap!
When you’re starting out in your Virtual Assistant business it’s tempting to charge a low rate to bring in business. It’s easy to make the mistake of thinking that you won’t have many expenses and overheads because you’re working from home. Plus, you just want to get some clients, right?
Wrong.
How can you profit from the boom in child care services? Here are a few suggestions.
Sometimes consultants and other service providers are hesitant to charge a fair rate for their services.
Maybe they feel that the services they provide are so basic that you really can’t justify charging much or anything for them.
Perhaps they feel that they don’t have the knowledge or experience that other consultants have.
Thus, they hesitate to charge fair rates because of a lack of self-confidence. This is natural (especially for new consultants). However, what you know and do has real value.
If you operate a small business, you may feel that your income potential is quite limited. However, you can increase and diversify your income through international trade.
So many new marketers are reluctant to outsource, because they don’t like spending the extra money. They think it would be a waste of cash to pay someone else to perform tasks they can do themselves. But that thinking is very flawed.