Cornered Into Giving A Quote?

No problem. Quote high. Then explain down.

Most of us have been in the sticky situation where we've been asked to give the price for a service before we've had a chance to ask enough questions to determine the scope of the work and give an informed estimate.

To refuse could mean the loss of a potential client. On the other hand, you don't want to back yourself into a corner where you'd lose money by offering too low a quote. The solutiongive an estimate that you know is higher than you'd expect to charge, but add a caveat that opens the door to more discussion, such as: "Well, the fee for the type of work you describe could be as high as $6,000. But depending upon what you want and need, yours could be much lower. Let's take a look at your situation." Or: "It depends on several variables. Let me ask you a few questions so I can quote you the best price for your particular situation."

What you really want to do when faced with this dilemma is to find a way to discuss the job further. That way, you can determine the parameters of the job at hand and give the most accurate price possible. It also gives you an opportunity to talk about the benefits of using your company and further enhances your possibility of getting the job.

For instance, if your services involve business-to-business or business-to-consumer outreach, you might want to stress that you've never missed a deadline (assuming it's true). That way, your potential client knows that his/her message will reach the intended audience on the timeline planned if you are chosen for the job.

You also may want to ask a particularly pointed question about the job that will highlight a feature or benefit your competition doesn't offer. For example, if your service involves the distribution of direct mail, you may want to ask something like the following: "Do you plan to send your West Coast mailing earlier than the East Coast mailing so that both arrive in the same week. We do a zip code sort that does just that." Not only do you earn your potential client's trust and confidence, you can probably charge a little extra for the feature you just explained.

Remember, too, that fees and money are only part of the job. Your clients want results. As part of your discussion, make sure potential clients understand that you are results oriented. That your services include end-of-the-job tracking reports that they will receive to determine the success of the campaign. The fact that you are willing to provide such a service will instill in them an extra bit of confidence in your abilities (and steer them away from a "lowest bid" mentality toward your value-added approach).

If you can successfully turn the discussion around in ways like this when someone asks you, "What's your price?" without you knowing what lies ahead, then being initially backed into a corner is not so bad and could lead to lucrative work.