There are five basic mistakes you can make when putting in your price for work or products.
Some of the material for this article was found in business.co.nz. A couple of additional ideas have been added.
1 Spend your time quoting for only those jobs you have a reasonable chance of getting. Many clients of ours look at every job and then don’t bother putting in a price for many of them. Why waste time going there, if you’re not going to price the job?
2 Read the brief carefully. Do exactly what you’re asked, otherwise don’t quote.
3 Study your buyer. Their website is a good start. If you don’t know them, they may be desperate to get your quote because they can’t pay their bills. Check their credit rating.
4 Sell your firm's attributes. What can you do which is so special your firm should be chosen? Don’t forget to send in references from customers who were delighted with your work. Blow your own trumpet. If you’re great at what you do, tell them, but be specific. Generalised statements are useless.
5 Double-check your figures. Then proof read your quote. Is it clear and obvious what you are quoting for? You don’t want an argument later. Make sure your terms and conditions are included. Every time you strike an argument with a customer, go back and rewrite your terms so that particular problem can't arise again. You should probably read through the quote three or four times before letting it go.
You’ll find more hints for successful tendering on the Ministry of Business, Innovation and Employment’s Procurement website. It includes videos of buyers talking about what they look for in tenders.