2016-12-12 00:00:00 Starting a Business English Explore three easy steps to create quick, accurate, and profitable bids and quotes that can win jobs and customers. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Busines-Owners-Win-Business-By-Creating-Fast-Bids-And-Quotes.jpg https://quickbooks.intuit.com/ca/resources/starting-business/3-steps-to-create-fast-bids-and-quotes-that-win-business/ 3 Steps to Create Fast Bids and Quotes That Win Business

3 Steps to Create Fast Bids and Quotes That Win Business

2 min read

Generating quick and accurate bids and quotes can make the difference between winning and losing a job or a customer in businesses ranging from insurance to construction. Because these submissions often serve as the first impression of your company for potential clients, bid and quote proposals should also convey professionalism combined with information detailing the strengths of your business. The following are three steps to generate quick and accurate bids and quotes that can win jobs and customers.

Get all the Details

Your bids or quotes will likely be only as good as the data used to calculate them, so take the time to get all the information necessary to present accurate cost estimates that are both competitive and profitable. For example, a general contractor who is asked for a bid price on a remodeling job should obtain blueprints and do a walkthrough of the home to develop a detailed assessment of the work to be done.

These steps can facilitate accurate estimates of the scope of the project, including materials to be used, necessary skill sets for workers, and the cost of labour. A walkthrough of the site may also reveal additional work required to complete the project, such as repairing walls damaged by dry rot, fixing plumbing issues, or replacing structural elements that don’t meet current building codes.

Use a Software Program

Automating your pricing with a software program can take hours off the process of building bids manually, while also providing the flexibility to adjust bids quickly to reflect changes in the project. For example, construction-estimating software programs can generate multiple bids for clients who want to see how the use of different materials affects the total cost of the project.

This capability can deliver value to clients through the provision of adjusted real-time cost estimates before and during the project. Automating the process can also provide instant calculations on how different data inputs may affect profit margins for your business. There is a wide range of options for these software programs, which can be purchased online and customized to specific business needs.

Print and Present

Delivering bid pricing in a digital format is likely to be the fastest way to get your information into prospects’ hands, but there are instances when a hard copy of the information is the better choice. For example, if the bid or quote is accompanied by a contract, signatures on a printed copy will likely be necessary to close the deal. Printed copies may also be preferred when an estimate is lengthy or complex, requiring an in-person presentation to explain pricing details or intricacies in the contract.

If printed estimates are likely to be part of your job or client acquisition activities, making an investment in a high-quality printer allows you to generate hard copies of bids or quotes quickly and easily. To optimize prospects’ perceptions of your business, create a professional proposal form with your company’s logo, a street address, and contact information including a local phone number and your business email address.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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