Pricing can be one of those tricky, uncertain areas for anyone hiring a done-for-you service provider, AND if you ARE a DFY service provider. It can be really confusing to try to figure out what is fair and reasonable for either side.
On top of that, industry standards are changing.
Before I started the OBM business I have now, I worked for a friend as a sort of Virtual Assistant for a while. We decided up front that I would work on a retainer, but we didn’t specify the most important part: X amount of money is going to cover X amount of hours of work.
I ended up working 12-14 hour days, 6 to 7 days a week. I kept on asking for and taking on more work because in my mind, I thought, “My income will reflect this!” But when I broke it down, it ended up being only $10-$15/hour. This was not going to sustain me once I moved to California where I currently live.
I left that situation and right around the same time, I listened to a training on the industry standards of pricing…and I was SHOOK. “I’m supposed to be charging HOW MUCH?!”
I was massively undercharging, and that’s when I knew I needed help and hired a mentor.
Now, I want to take all of what I’ve learned and share it with you in regards to what you should pay as the client, and how much you should charge as the DFY service provider:
VAs are essentially task-grabbers, but they can range from general VAs to more specialized ones – think social media, tech, Pinterest, literally anything and everything in between. So, how much you’re going to pay is going to depend on this, as well as skill level.
Something I want to stress here: If you are looking for someone to implement systems and strategy, you do not need a VA – you need a higher-level service provider (who will cost more) like an OBM. VAs are not OBMs, yet I’ve seen people wanting the $15/hour price for the $45/hour quality and expertise.
Industry standards: Most VAs will charge anywhere between $25-$50/hour. Lower price usually means more management and direction to give on your end if you’re hiring a VA.
An OBM is becoming a sort of catch-all term nowadays. A general OBM will handle systems, operations, strategy, all the back end things! They do it in a way where you don’t have to manage any of it. That’s how I positioned my agency and eventually turned it into a one-stop shop.
However, some OBMs who are not a catch-all option are going more towards a specialization – think funnels, launch intensives, course building, etc. And this comes with a premium.
Industry standards: General OBMs typically start around $45/hour, and $80/hour seems to be the high end price.
OBMs with specializations are usually packaged into higher-ticket flat rates because they have enough experience and leads to charge more for their expertise and efficiency. These OBMs tend to range from $100/hour and even $1000/hour or beyond. Yes, $1000! But again, this is usually a highly-sought after expert in their zone of genius!
Prices and specialization are going up across the board! If you are a service provider at a place where you’re not super confident in your pricing or packaging, I have your solution! My group programs, OBM Foundations, is open for enrollment!
Every business needs to start with a solid foundation and I’m very passionate about helping people make sure they have just that when they’re in the beginning stages! Want to join this 6-week program? Join us HERE!