Mastering the Art of the Quote

May 3, 2021

Mastering the Art of the Quote

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Here’s an obvious statement that will play a key role in the success of your small business: people can’t pay you unless they know how much to pay you. In the case of a retail shop, you’d likely place a price tag on or near your products so customers can quickly ascertain their cost. At the very least, you’d be able to scan the product at your register and communicate the price to anyone who’s interested.

But what about situations where your product or service is more sophisticated than a basic item on a shelf? Knowing the cost will be crucial for customers to feel confident with moving forward with a purchase. And once the cost has been agreed upon, you’ll be 1 step closer to getting paid.

Sending a quote to a client kickstarts this whole process. Your quote can take many forms, depending on the specifics of the product or service, as well as the expectations of the client. For example, let’s say you sell birdhouses and a client inquires about purchasing 200 of them. Your quote would likely be specific, detailing the cost per unit and how much the entire order would cost for the client.

On the other hand, if you owned a fencing company, you’d first share a ballpark figure with potential customers. For example, if a person called and said they had a 2-acre lot and wanted to put a 6-foot vinyl fence around the entire perimeter, you could tell them the cost per foot and then calculate an estimate for the job. Of course, the exact cost wouldn’t be determined until you had the chance to visit the property, take your measurements, and identify any special considerations. At that point, you’d be able to give them a precise quote. Because quotes can be legally binding, you never want to offer one unless you have all the necessary information.

About the Author

Grant Olsen

Grant Olsen

Grant Olsen is a writer specializing in small business loans, leadership skills, and growth strategies. He is a contributing writer for KSL 5 TV, where his articles have generated more than 6 million page views, and has been featured on FitSmallBusiness.com and ModernHealthcare.com. Grant is also the author of the book "Rhino Trouble." He has a B.A. in English from Brigham Young University.

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