How to Give a Quote: Tips to Make Your Quotes Stand Out

If you’re in the business of making products or providing services, then you likely spend quite a bit of time doing business with people who are looking to purchase your products or hire your services. If this describes you, then you know that giving quotes can be one of the most time-consuming and frustrating parts of running your business, especially if you always feel like you’re competing against others who are offering lower prices than yours. To make sure that your quotes stand out from the rest, pay attention to these four tips for giving good quotes.

Know what kind of estimate you want to give

You need to know what kind of quote you want before you start promoting your services. There are two main types of quotes: fixed-price quotes and time and materials quotes. With a fixed-price quote, you'll charge one price for the entire project. Time and materials quotes are based on the number of hours it will take to complete the project, plus the cost of materials. You should also decide whether or not you want to include discounts or specials in your quote.

Ask questions before giving an estimate

Before giving an estimate, it's important to ask questions about the project and scope of work. This way, you can get a better understanding of what the client is looking for and how much work will be involved. Asking questions also shows that you're invested in the project and want to ensure that you're providing the best possible service.

Be honest about how long it will take

It's important to be honest about how long a project will take, both in terms of giving an accurate quote and in terms of managing customer expectations. If you're unsure about how long something will take, err on the side of caution and give yourself some extra time. And if you finish early, you can always use that as promotion for your business! Specials and discounts can also help sweeten the deal for potential customers.

Choose the person who will hire you

Respect your business as the owner. As a small business owner, you are always looking for ways to promote your business and attract new customers. One way to do this is by offering specials or discounts. However, never forget it is your business. When considering whom you will be working for ask yourself this question: Is this a person I want to work with or for? Especially in premium services or products, this question is the difference that changes whether you work for good or bad people. It's okay to set a standard in the prospecting clientele process.

Send over your estimate in a timely manner

The first step is to send over your estimate in a prompt manner. Customers appreciate fast follow-up, and it helps you seem more engaged. Plus, it shows that you’re organized and can handle their project. Next, research the client's background: It's also important to do some research on the company you're quoting. Find out who they are and what they're about so that you know how best to connect with them. If they're an organic company, try mentioning the use of organic materials like plastic or recycled paper when submitting your quote. If they have a charitable side, then mention this too! 

Finally, follow up more after sending your quote: If they ask for revisions or feedback on pricing then give them what they need as soon as possible! Even if someone doesn't ask for anything from you, send another follow up just because! You never know what might happen if you stay connected with them.