Blog Introduction: When you’re in the business of consulting, one of the most important things you can do is avoid under quoting. After all, if you under quote your services, you’re not only doing yourself a disservice, but you’re also likely to lose out on potential clients. In this blog post, we’ll give you a few tips on how to avoid under-quoting so that you can close more deals and grow your business.
- Know Your Worth
This may seem like an obvious one, but it’s worth repeating: if you don’t believe in your own value, no one else will. It’s important to remember that your time is valuable, and that the services you provide are worth paying for. If you go into a meeting with a potential client already doubting your worth, chances are they’ll sense it and lowball you on price. So before anything else, make sure you know your worth and believe in the value of your services.
- Do Your Research
In order to properly quote your services, you need to have a good understanding of what the market rate is for similar services. This means doing some research ahead of time so that you can go into meetings armed with data to back up your quotes. Not only will this help you avoid under quoting, but it will also give you the confidence you need to close more deals.
- Be Prepared to Negotiate
Even if you’ve done your research and come up with a fair quote, there’s always a chance that a potential client will try to negotiate down from there. It’s important to be prepared for this possibility and have a counteroffer ready in case it comes up. Remember, it’s okay to negotiate—just make sure that you don’t end up undervaluing your own services in the process.
Avoiding under-quoting is essential for any business consultant who wants to be successful. By following the tips above, you can make sure that you’re getting paid what you’re worth and closing more deals than ever before. So don’t sell yourself short—follow these tips and watch your business grow!