If it is your first time making a sales quotation, the feelings of being lost and confused are prevalent. However, making a sales quotation is relatively simple. You just have to remember that it is important that you are able to clearly label and break down the costs of your services in a sheet in order for hopeful customers to be able to understand it.
1. List Down the Provided Services
If it is your first time making a sale quotation, we suggest that you create a tentative draft of your sales quotation. List down the provided services you can offer. Give a break down for the services. This means that you should list down the estimates and make an expense sheet and fees that will be incurred. Make sure to clearly label it, so as to avoid confusion and possible errors.
2. Talk with Your Clients
Meet up with your clients to talk to them about their ideal budget range and the possible budget they will need if they wish to go through the service. You can also negotiate and compromise with your client for a cheaper service. Talking with your clients can also make them understand how their money will be used, and will likely prevent complaints from being filed at you.
3. Conduct a Meeting
Conducting a meeting is a great way to create a sales quotation. In a meeting minutes document, collect all the suggestions from your constituents about the possible fees you will ask from your customers. You can ask for everyone's opinion and ideas on how to make a well-made and well-formulated sales quotation. Having other people review your sales quotations will make it less likely to contain errors.
4. Compute your Mark-up
In conducting business, you have to be ethical. Do not try to cheat off your customers. Remember that the essential point of creating a business is to benefit both the business owner and the customer. As such, when computing your mark-up, you have to be fair. Avoid overpricing and underpricing your services and goods.
5. Don't be Afraid to Ask for Help from Experts
According to a website named Smallbiztrends.com, some of the top 10 causes for business failures are pricing and cost issues (18%), poor marketing (14%), and getting "outcompeted" (19%). With that, you should not be afraid to ask for tips from experts in making your quotations.
6. Go Over Your Document
Sales quotations are very important documents for your business. Go over your document to spot any possible errors you could have made. Edit and proofread your sales quotation document if you see any typographical errors. Make sure that you do not overlook any mistakes.