Posts Categorized Money & legal

How to raise your hourly rate (with email template)

If you charge by the hour, at some point you’re going to reach an income plateau as there are only so many billable hours you can work in a day. You know you need to raise your rates as time goes on, but you’re also worried you might lose some of your clients if you do. Here’s how to up your prices like a pro along with a customisable email template.  

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Common VA scams and how to avoid them

Because the VA industry is unregulated, people often try to take advantage of the situation for their own personal or financial gain. From amateur “experts”, dodgy clients and outright scammers, unethical practices appear to be on the rise. But if you know what to look out for, you’re far less likely to be taken for a ride.

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How to improve your pricing strategy and mindset

Knowing what to charge and then asking for it is one of the hardest aspects of freelancing. Not only is the subject of pricing unfamiliar to new business owners, but the whole idea of talking about money seems to make most women uncomfortable. But in order to become a successful (i.e. wealthy) VA, you will need to nail your pricing strategy otherwise you will end up with a hobby and not a business.

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The legal stuff you need to have in place

Every Virtual Assistant needs to have legal contracts so they don’t get sued or screwed. Clients expect you to have them and they’re there to give both you and your clients peace of mind if it all goes south. It may start out all rainbows and fairies but client relationships can sour – and you do not want to find yourself naked without a contract!

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What every VA needs to know about data protection

Unless you live on the moon, I’m sure you’ve heard of the General Data Protection Regulation, commonly known as the GDPR. These changes came into force on 25th May 2018 and affect every business whether it’s in the EU or not – so that means you AND your clients. Here’s what Virtual Assistants need to know about GDPR and how to make sure they’re compliant.

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How I keep my own financial records

As a freelancer, you are legally required to keep accurate financial records and expenses going back over the last six years. My trainees often ask me how they should record both their own financial records as well as their client invoices, so I thought I’d show you the system I use myself.

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Do Virtual Assistants need insurance?

Members of my Facebook group often ask whether they should take out business insurance and because the information out there can be complicated and hard to understand, I wanted to provide you with a summary of the various different policies so you can make an informed decision for yourself. Many Sole Traders I know don’t have any insurance, but should you?

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How to invoice and get paid

So now I’ve covered how to set your rates, how to track time spent on client tasks, how to avoid time-wasting clients and how and when to fire a client, it’s time to tell you how to invoice a client so they can pay you! This is how to set up easy standard ways of invoicing so you can just do the work and bill your client without any stress, worry or confusion. 

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How to set your rates

One of the hardest things to decide when you become a Virtual Assistant is how to set your rates. If you charge by the hour then you’ll never earn more than there are hours in the day which is why it’s better to get a client on a retainer or charge a project rate. “But how does that work and how do I do that?!” I hear you cry. Well let’s look at those options in more detail:

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What UK Virtual Assistants need to know about tax and National Insurance

When you decide that you’re going to become a Virtual Assistant and take over the Universe, one of the many, many things you’ll need to do is tell the Government you’re no longer working for The Man but for many men and women instead. The information below is based on current UK tax laws so make sure you’re up to date with what you need to do if you live outside of the UK.

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