I am reminded, as I reach for my calculator to prepare a quotation that not every virtual assistant works like this after a prospective client consultation. Why you may wonder? Because they feel “pressed to price.” They feel they must name a price while in the moment of the conversation, crossing their fingers and toes, that the quick mental calculations haven’t overlooked something and this brief conversation has illustrated the full scope of the project. I say, “Wait!”
My years of sales experience knows that rushed mental calculations seldom end well for your business’s bottom line. In haste, things are forgotten. Take the time you need. Let the prospective client know they can anticipate a quote from you later that same day or the next business day. Clients understand and won’t blink an eye. This assures them that you’re giving their service requests your fullest attention plus taking everything from the consultation conversation into consideration. The added time also allows you time to consult with a subcontractor, should you be using one, or check availability with a team associate, or to do a bit of research if you need to clarify something or check about a software or resource you plan to use. With that being said, if the service is something that you have complete clarity to the scope of the project, yes, give an on-the-spot quote.
When the Client Presses
If the client presses to name a number what do you do? Give an estimate range. Then take the time needed to follow that estimate with your actual quote. Don’t fret if the actual quote amount doesn’t match the estimate in the end. It is an estimate after all. If you realize when running the figures that a necessary piece wasn’t initially covered now is the time to include it in the final quote.
While the client does want and need to know the final price when they press for a price during the consultation they are actually seeking information to discern if they can afford the services discussed. When I discuss what seems to be a large and involved project for my own business I, too, like to have an idea how much of a hit my budget will take. I often ask what the ballpark range would be. Or, I’ll ask if the price would be under X amount. If the range is over my ceiling purchase amount then it signals to me that I need to either scale-back, break the project into smaller budgeted phases, or find another service provider.
When the Press Puts You in the Squeeze
So what to do if you over-anxiously gave a full quote during the consult and stuck with that figure on the work agreement? Unfortunately, this commonly means your business eats the loss. You learn to chalk it up to experience. You make wiser decisions on the next quote.
Trying to go back to the client to increase the rates after all is completed is hard and comes with risks. Handle this decision to address charging more on a case-by-case scenario. Some clients will be fine – understanding from your progress reports throughout the project that there have been unforeseen issues arise. Others will expect you to have accounted for the unexpecteds in the initial quote.
It’s better to keep a happy client, who will shout their satisfaction from the rooftops, than to quibble over dollars miscalculated. Look at the long term affects – the chance for repeat business. It’s much easier to work with repeat customers than to continually search for new leads, have a consult, and hope to land another project.
In the end if you truly need to do some calculations, take the time. Here’s to your quoting success!