To get a big project, writing a good quote is utmost essential. Since time is the new currency, project managers cannot afford to waste it constantly with low-performing tactics.
In this article at NuWire, the author explains that to earn business from a proprietor, accurate and effective project quote is the key.
Pitch to Win
To improve your project quoting skills, pay attention to detail of following up with the project leads and methodology that may help you produce the best results. Devote considerable amount of effort and resources to pitch, quote, and win over clients. Here are some tips to seal the deal:
- Know Your Break-Even Point: When quoting a project, always keep a note of your break-even point, the exact dollar amount where you go from making money to losing money. Knowing your break-even point will give you enough room to prepare and negotiate with potential yet a hesitant client.
- Personally Meet Clients: Fight the urge to quote over email or phone and fix a one-on-one meeting with the clients to get far better results.
- Go Beyond the Service: In IT project management, you are not just selling a service, but you sell yourself to the clients too. Hence, as you pitch and quote a project, convince the prospective clients that you can turn around any situation in their favor.
- Consider the Market: Gather present market condition and client’s position in it before pitching a new project. It will help you bag the best price for the project and may set your prices higher than usual.
- Give Yourself Some Wiggle Room: By over-estimating the cost, you can ensure cost-effectiveness and may give yourself a chance to earn better than your counterpart. You may even share the market analysis with the clients showcasing how cost-efficiently you finished the project for them. In return, you will win customer loyalty.
Click on the following link to read the original article: https://www.nuwireinvestor.com/5-tips-quoting-project-client/