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Had the face-to-face today which was a good thing. Turned out that he was quite happy with the quote - now I feel like I underquoted! (makes me worry I might have missed something )
Anyway, I'll know within the next week or two what the head honchos have to say, but for now it seems positive
I know that my comment has nothing to do with your question directly, but it is a small reminder of things that can go wrong, due to "tunnel" vision when trying to quote the best price to make sure you are competitive, and overlooking some seemingly tiny matter which comes back to haunt you at a later stage.
A young relative started a new business, he sold a large power surge/lightning protection system to a casino.
The unit was "guaranteed" to protect the equipment, but no-one told him that one lightning strike and the equipment itself was now useless and would have to be replaced.
He had "quaranteed" the item he sold.
End result, possibility of being sued and he had to at his own cost purchase an even better system to honor his sale agreement
For his start up business this was a massive loss as his commission on the item had been a very small percentage.
Do not overlook possible negative factors.
So if you selling something as a agent, firstly check all quarantees, and make absolutely sure that you understand what you in turn are guaranteeing to your client.
Now this is dragging an old thread out of the archives....
I've certainly gained lots of experience over the last few years and approach quotes differently now. I still find them quite difficult to do, and fairly time consuming. There doesn't seem to be a clear way to do this for electronic design, but at least I have a framework now. So I wrote down my current "rules" for quoting.
1. Always give a quote
An offer is on the table ensures that you are in the running. Set a time frame for the quote and deliver on your commitment. This the first opportunity you have to demonstrate that you can deliver – make sure that you do. I recently quoted on a project and was shocked that at least three other companies had not bothered to deliver a quote.
2. Know your worth
Understand your own value and how that contributes to the project. Undervaluing yourself leads to difficult financial situations and lack of motivation. Overvaluing results in a begrudging client who is unlikely to use you again. Clearly communicate the value that you add.
I would be interested to know what you guys think, and what your own "rules" are when you quote for a project or something that you don't actually know how long it will take.
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