Advising Clients of a Fee Increase

One of the hardest things you will have to do as a Sole Trader is advise your clients you are raising your fees.

If you are anything like me, you will put it off time and again, as the voices in your head start saying things like times are tough for everyone or, will my fee increase lose me the client to someone offering a less expensive service?

Tonight I finally bit the proverbial bullet and sent a letter to each of my clients advising of an increase to my fee.

I agonised over the wording all day but I am happy with what I finally produced and I am posting a copy of what I came up with in the hope that I may be able to assist someone else who may be struggling with the right thing to say.

Remember, to be successful we must first be confident and believe in ourself and our worth.

I will let you know in a future post how I went.

Remember to the virtuous is good...but to be virtual is better! ©

Cheers Katrina


SAMPLE LETTER: Naturally you would omit any irrelevant data!

Dear (Client Name),

RE: Fee increase from (Your Business Name).

Firstly, may I take this opportunity to personally thank you for supporting me in the * years since I began my Bookkeeping Service and for choosing me for your bookkeeping needs.

I have avoided raising my rates for as long as possible, however due to the increased cost of living I will be increasing my rates effective from the start of the March BAS quarter (Jan 2011).

For those of you whom I work for on a quarterly basis, this increase will take effect when I process your Jan, Feb, March bookwork (any work related to the Dec quarter not yet processed will be charged at the current rate).

For those of you whom I work for on a weekly/fortnightly basis, this increase will take effect from 1 March 2011.

My offsite rate will increase from $** to $** per hour.
My onsite rate will increase from $** to $** per hour.

As in the past, I am offering a lower rate for work conducted from my own office.

I believe this increase to be commensurate with my qualifications which now include a Certificate IV in Financial Services (which has become a legal requirement for contract bookkeepers) and am proud to announce that I am now also a Registered BAS agent in my own right.

I thank you for your understanding and continued support.
As always I'm here to help.

Sincerely,
(Your Name).

What is a Virtual Assistant?

A Vitual Assistant is a person employed to complete Administration, Data Entry and Secretarial Services on an As Needed basis.

Wikipedia* defines it as:

A virtual personal assistant (typically abbreviated to VA or VPA, also called a virtual office assistant) is an entrepreneur who provides professional administrative, technical, or creative (social) assistance to clients from a home office. 

How Can I Benefit from Employing a Virtual Assistant?

Because virtual assistants are independent contractors rather than employees, clients are not responsible for any employee-related taxes, insurance or benefits. Clients also avoid the logistical problem of providing extra office space, equipment or supplies. They usually work for other small businesses, brokers and consultancy groups.

How do I communicate with a Virtual Assistant?

Common modes of communication and data delivery include the Internet, e-mail and phone-call conferences, online work spaces, and fax machine. Professionals in this business work on a contractual basis and a long-lasting cooperation is standard. 

What should I look for in a Virtual Assistant?

Typically 5 years of administrative experience in real office environments is expected at such positions as Executive Assistant, Office Manager/Supervisor, Secretary, Legal Assistant, Paralegal, Legal Secretary, Real Estate Assistant, Information Technology, et cetera.

Why is it important that my Virtual Assistant has prior experience in a real office environment?

You have worked hard to build your business to the level it has achieved. It deserves to be represented professionally, skillfully and respectfully.

There are many people on the web offering their services to you whom have never worked a day in an office environment, whom do not understand the importance of time management and the value of great presentation and skill. 

On the up side, there are just as many, if not more people whom have the skill-set you require waiting to provide you with great service, skill and ability!

Many of these are stay at home mums, whom have left the Corporate World to focus on raising a family. They already have all the skills and training required to get the job done well, and are in need of the mental stimulation that work provides to break the monotony of watching The Wiggles, or Dora the Explorer all day ;-).

Until next time remember...To be virtuous is good, but to be virtual is better!©

Cheers Katrina

*Any Text reproduced from Wikipedia is shown in italic type.

2011 - Welcome to a New Decade and a New Approach to Business.

Newsflash... KLBS are excited to announce they are now offering Virtual Assistance as part of their commitment to helping your business excel.

Katrina Lavrack Virtual PA...because you dont have enough hours in your day.©

As a new decade dawns, there is no better time than now to reflect on the year that was and the direction your business is heading.  No doubt you have made countless New Years Resolutions regarding your personal and family life but what about your business?

Are you ready to enter the Virtual World?  If your answer is no I implore you to reassess your stance on the matter. 

Thanks to the power of the internet we can now work virtually anywhere and any time we want. While some people may find this unnerving, let me assure you that once you get "tech savy" or put your faith in someone else that is, a whole new world of opportunity awaits.

Over the next few weeks, I will be posting Blogs on Virtual Assistance and how it can help make your business perform better and smarter as well as outlining how Katrina Lavrack Bookkeeping and Virtual PA's can give you more time in your day.

Until next time remember...To be virtuous is good, but to be virtual is better!©

Cheers Katrina