How to Come up with a Winning Quote
<p>Whether you are a new freelancer or an experienced self-employed person, many are under a little stress when sending a quote to a potential client. One wonders if our services are explained well enough or if we have submitted a price that is competitive. It can be intimidating to send an estimate especially when you know you are competing with other professionals. So here are some tips to create a winning quote.</p>
<h3><strong>Why Take the Time to Create a Quote</strong></h3>
<p> For some, quotes are a waste of time. It is true that in some cases, such as a repeat customer, this may be less relevant. However, the quote is a professional tool that increases your credibility, especially in a new partnership. It is a way to show your potential customer that you know what you are doing and that you have thought of everything. In addition, this can be a reference document in the event of a dispute, since the rates, deadlines and terms of the partnership are clearly explained. When companies are looking to hire someone for a contract, they will ask for multiple bids to compare benefits before making their final choice. A quote can help you as much as it hurts you, so it is important to take the time to create one that is perfect. It will always be better than an agreement signed on a napkin!</p>
<h3><strong> Study Your Potential Customer's Needs</strong></h3>
<p> The first step in creating your quote is to know the needs of your potential customer. To get there, it is advisable to take a few minutes of your time to chat with the person directly. What is he/she looking for? What are the deadlines and industry? What are the values? This will make it easier for you to identify needs. You will also be able to check whether this person is serious–whether they are looking for a long-term partnership or just a price.</p>
<h3><strong> Calculate Your Fees</strong></h3>
<p> Then let us talk about your fees. Most of the time, just because you have a pretty face does not mean your client will accept your quote. Often, it is all about price. Before offering the lowest rates, take a moment to calculate your fees. Have you thought of everything? Have you taken into account the time for meetings and returns with the client? Have you included travel, administrative expenses or all the equipment you need to do your job? One of the worst mistakes you can make is to send a quote that has not taken all these elements into account. You are then caught working at a loss! If necessary, find out about prices in your field of activity and do not hesitate to offer your services at a price that is fair to you. Bad customers or those who are only looking for a price will go their way.</p>
<h3><strong> What to Include in Your Quote</strong></h3>
<p> For a quote to be considered valid, certain elements must be present. First of all, you must find the company's contact information and that of the customer: name, address, phone number or email address. Then you have to indicate the date of the quote, as well as the due date. As for the content, the bid items, their description, price and quantity must be clearly stated. Be specific, but you do not have to write a novel for every part. For example, if you are a translator, you might indicate as a description that it is simply a translation from English to French. Finally, do not forget to add your terms and conditions. It is also possible to number the quote as needed. This is especially important if you need to send more than one.</p>
<h3><strong> A Few Tips When Coming up with Your Quote</strong></h3>
<p> First, if you want to increase your chances of standing out, make your quote a reflection of you. This is all the more important if you are working in a more artistic field. Show your logo, but also the colors and fonts used for <a href="https://www.momenteo.com/blog/personal-branding-why-and-how">your personal branding.</a> Your essence needs to be seen when a potential customer studies your offer. Of course, it is essential that the end result remains harmonious and that it is easy to spot important information in your quote. Keep it simple making sure to add all the elements that are relevant to your offer.</p>
<p> The second thing we want to address is the deadline. There must be a time limit that is neither too short nor too long. It often takes a few days for potential customers to make a decision, especially if they work for a large company. On the other hand, do not bid without a due date. Over time, prices increase and it would be a shame to be caught with a fee presented a few years ago. In general, offer a one-month deadline and do not hesitate to call your client back–if necessary. If your quote is declined, you may want to take some time to ask why. While it is hard on your pride, these comments can help you improve your future service offerings. Also, do not forget to add all your limits, such as the number of returns/reworks or possible changes so you do not get caught forever working on the same project(s).</p>
<h3><strong> Create a Quote Easily with Momenteo</strong></h3>
<p> Momenteo can help you with your bills, but also with your quotes! Go to the program and click on the quote tab on the left. Then enter all the necessary information, choose a due date, and enter the items to be billed, as well as their description. A quote will then be automatically generated with your logo and colors. If necessary, you can choose different models by clicking on the pencil icon. Then change your terms and conditions and add the relevant notes to the submission of this quote. Everything will be emailed, and you will receive a notification when your potential customer has accepted or declined your offer. Depending on the outcome, the quote can be converted directly into an invoice. It is as simple as that!</p>
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<p>In conclusion, we hope we have managed to give you some ideas to create your winning quote. By following these simple steps, you will increase your chances of being retained or at least offering your services at its fair value. Happy billing!</p>
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