I believe Virtual Assistance is a relationship-based service. I love to work with my clients long-term. Some clients have monthly, ongoing needs; others need assistance on a regular, but more periodic basis. However, both types of clients need a go-to person to help when the need arises.
Many VAs charge by the hour. Some have retainers. Depending on the client, I do both. Given the variety and unpredictability of the work, it can be difficult to come up with a flat fee that makes both you and the client happy.
Hourly work means you get paid after the work is done. That could also mean chasing down a payment.
Monthly retainers are a time commitment. While it helps me to know how many hours to hold open for client work each month, clients can be hesitant to pay a retainer because they honestly don’t think they have enough work for someone every month (although they usually do!).
So, I have just implemented a simple, wonderful, easy approach to pricing – a virtual debit card! It’s a win/win for both VA and client. It’s such a revolutionary way to charge for my services. (Thank you, Belinda Wasser of RocketGirl Solutions for creating this payment system!) The best part? No contracts or monthly minimum required!
Here’s how it works:
- Clients pre-pay for my time in 5-, 10- or 15-hour chunks. This time goes on their “Debit Card.” Once a Debit Card has been purchased, that tells me they’re ready to get started. They receive a welcome email and off we go!
- I send an email every Monday morning to my clients, letting them know how much time is left on their Debit Card. This way they always know where they stand on time.
- Clients buy the Debit Card via credit card so I’m paid immediately.
- The time on a Debit Card is good for 6 months. This removes the pressure to use the time quickly and allows the client to have a ‘go to’ person whenever something comes up that they need assistance with. Some clients will buy a Debit Card every two weeks, others once or twice a year just so they have access to me any time they have a need.
- When there’s no more time on the Debit Card, I stop working until it’s “reloaded.” Every Monday morning email has the links to purchase more time if needed.
I love this system because it’s clear, simple and clients don’t need to be reminded about paying their invoices. And I don’t have to send out invoices every month. I simply say “your Debit Card is empty” and they know that if they want the work to continue, they’ll need to buy more time. Or better yet, they take the initiative and load the card on their own.
Do you or someone you know think working with a VA on a debit card payment system – having a “go to” person already in your pocket – sounds like the perfect solution to your business problems? Check out my pricing page and schedule a time for us to chat! It’s 30 minutes, and it’s FREE!