Here at 713Training, we are routinely asked “What should I charge for my VBA services”, or even worse, we are called AFTER the person has agreed to offer their in-demand skills for less than they are worth.
If you are an attorney, read on, as this applies to you too.
Whether you are an attorney, or a bankruptcy assistant, my answer always is, that you need to understand the value of the service that you are providing, carefully and accurately decide what your time is worth, and STICK TO IT! Draw a line in the sand, and NEVER, EVER cross it.
I even take calls from new VBA’s who ask “Do you know of an experienced VBA or attorney who would let me work for them for free, to get some experience.” When I hear this question, I want to shout…NOOOOOOOOO!!!!!!
Take a step back, and think through where this line of thinking takes you. Whether you are an attorney ore a VBA, you have a highly in-demand skill that helps people to change the direction of their lives in a way that no other tool can. You are a professional in your field, and you want to discount it, or give it away?
By doing so, what happens, is that you devalue the service. If it makes you feel any better though, I made the same mistake too. If I can though, I’d like to help you take a shortcut, so that you don’t have to learn the hard way, like I did.
When I first started my VBA business, I was very nervous and excited when the first attorney called me to inquire about my services. Unfortunately, I hadn’t drawn my line in the sand, and let myself be talked into taking a lower fee for my services than I knew that they were worth.
Without realizing it, I had not only just devalued my service, I was about to learn that clients (whether they be an attorney client of a VBA, or a debtor client of an attorney) that can’t afford to pay you what you are worth, are much more effort to work with than it is worth. They are extremely high maintenance, very demanding, and no matter what, still feel like they are paying you too much.
What this mistake of agreeing to be paid less than you are worth boils down to, is a lack of self-confidence, and the only way I know of to overcome it, is to decide that you’ll never take less than you’re worth again, and as I said before…STICK TO IT!
After the experience with the first attorney, when the next attorney called me, I was much better prepared. I had drawn my line in the sand, and was committed to sticking to it. When this second attorney told me he had three bankruptcy petitions that he had emergency filed and needed help with, and I gave him my fees, he told me that he had only charged his clients $200 more than my fee. In other words, I would make more on the cases than he would.
While I had empathy for his situation, (and I realized he was making the same mistake I had, and wasn’t charging enough for his services), I also knew that there was no need to make his problem my problem…why should I take less than I am worth, just because he did? So I stuck to my guns, and didn’t budge on my fees. He agreed to have me do the petitions for him, and I helped him save the cases from being discharged due to document deficiency.
The attorney and I had a lot in common, and became quick friends, and within a couple of weeks while having lunch (he was a local attorney), I explained what I had learned about drawing the line in the sand. I could see the light come on, but it was a bit dim.
So what happened?
Within a short order, this attorney decided to test my theory, and started edging his fees for bankruptcy representation higher. Lo and behold, IT WORKED! This gave him the confidence to continue moving his fees upward, until over a couple of months, he had increased his fees to be nearly three times what they were when we first met, even though there are STILL several attorneys in the area that are charging what he used to charge.
If you’re thinking, “He’s ripping people off!” WRONG! If that were true, he would not be getting any new clients, much less several referrals from happy clients. Instead, he decided to take a leap of faith into having some confidence, and finally realized the true value of his service.
Does this attorney get every prospective client that calls his office hire him? No. Do I get every attorney that calls me to send bankruptcy petition work? No. But neither of us needs to, nor do we want to. We have decided to be in control of our business, work with those that we choose to, and get paid what we’re worth, because we know that there are more than enough clients out there that understand the value of our service, and it’s our confidence in ourselves that makes it so.
How can you boost your confidence?
I can’t think of a better way to boost your confidence, than to feel like you have mastered the art of bankruptcy. This is what 713Training.com is all about.
We are holding a LIVE two-day training seminar in Salt Lake City on March 18-19. If you have to change your existing plans to be there, I strongly recommend it. Industry leaders will be on hand to give you the skills that build confidence, and you will have an opportunity network with like minded VBA’s and attorneys. The information being presented is ALL NEW INFORMATION. We expect that all attendees will go home full of confidence, and ready to stop being their own worst enemy.
If for some reason, you can’t arrange your schedule to attend, we have several self-study options available on our website at www.713Training.com, that allows you train on your own terms and schedule.
We also recommend that you look into becoming a member of the National Association of Virtual Bankruptcy Assistants (www.NAVBA.org).
It’s true that skilled Virtual Bankruptcy Assistants earn up to $100 per hour (I also know experienced VBA’s that are earning twice that amount) It’s also true that attorneys are earning $2,000 – $3,000, or more per case. You CAN run a successful VBA business or law firm, AND get paid what your services are worth.
Sincerely,
Clay Holland
President, 713Training.com
Join our LinkedIn group:
www.linkedin.com/companies/713training.com-llc
Follow us on Facebook:
www.facebook.com/pages/713Trainingcom/112903945407672
Follow us on Twitter:
www.twitter.com/713Training
DISCLAIMER: We at 713 Training are not attorneys; any information provided by 713 Training should not be considered legal advice. The information in this article, and any other materials provided by 713 Training, whether delivered verbally, written or via any other means, including electronic/digital delivery and storage, is for training purposes only, and is intended for individuals who work under the direction of a licensed attorney.
