How much do you charge for…?

You get that question every day. And it’s normal, as a matter of fact, the more you hear it, the better you should be doing.

Don’t be annoyed by this question, your client just wants information in order to make an enlightened decision. The idea is to provide this information precisely so that the person knows that he/she will get their money’s worth.

How do you know if you are making a profit on the projects that you undertake?

How do you determine the price that you will present to a client who asks you for a cost evaluation before giving you the work?

It is self evident; you need a strategy to make an estimate that will eventually get you the job. But above all, you want to communicate to your client the value that you represent for the project. All of this is done through good questions.  You need to get a real handle on the project, the potential problems, what does the client think and want, what difficulties has he had in the past with similar projects, what are his experiences with professional photographers.

I can say that during all my years in business, a customer never once phoned me to say:           ”André, I know that you need money, so here’s some work “. I had to fulfill his requests and expectations and then go get the job.

My customers had a very clear vision of their photography needs, in their heads, it’s up to me to ask him (her) all the necessary questions so that I have the details to make a proper proposal.  If you give an answer to the famous question:  “how much” … too quickly, you will lose your customer, unless you are the cheapest in the area. And you know that being the cheapest entails big risks as much for you as for the customer.

Therefore, it’s important to know the needs of the customer by asking him (her) precise and detailed questions, to propose adapted solutions and to put an appropriate professional price on your services while underlining all the advantages they will gain by doing business with you.

To support this approach, it is certainly necessary to possess a structured price list based on precise calculations and analyzes such as discussed in previous articles.

• How to make each product profitable
• How to find your real costs
• How to set your ideal prices
• How to find real costs and set ideal prices (combo)

Give a price estimate where each party feels respected and is getting a good deal then during the project, make the work fun for them so that working with you is true pleasure.

If you want to increase your profits; it starts with precise estimates, respect of client’s needs, extreme respect of delivery deadlines, great service and an impeccable presentation.

Even if the customer demands a price quickly, I always give myself time to calculate all of my expenses while asking for a short delay while I review all the details.  This is advantageous to both of us.

Normally, I could produce an estimate within the hour. This would be sent by e-mail or by fax. We would follow up with a telephone call after a half-hour to make sure that they received it.

The secret behind all of this: Having a precise calculation system, demonstrate a genuine interest in the project and build a relationship of confidence.

What a pleasure to know that this potential customer will be receiving an exceptional service from you at a price that respects both parties. This is how you build confidence.

You want to increase your profits, then it starts with precise calculations and an impeccable presentation.

Sharpen your pencils…..

For those of you who would like an Excel form created specifically for this purpose and helps you create precise estimates in record time, consult form Profit-Pro 107.

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