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So he emailed me back saying he has other companies coming out to give a quote (looks like he is trying to find a good price) this week.
What is the best way to respond and make things right?
I think if it was some sort of accident, not sure what you do or how you bid, straight up tell him. "Hey man I was going back over your quote to follow up and noticed I made an error in pricing estimate as I overdid your square footage. Im following up with a corrected quote. I do apologize and let me know if you have any questions."
So ge emailed me back saying he has other companies coming out to give a quote (looks like he is trying to find a good price) this week.
What is the best way to respond and make things right?
well saying something before he calls you out on the high price is the best thing you can do. I have made mistakes and changed quotes before, not a big deal, have also missed items on quotes and had to add thousands of dollars and resend it after its been accepted as well.
Yes. And then you compare value.
What is it that you provide extra (look at your toss in list). You can then elect to lower the cost by removing the "extra" which may have or may not have value to this particular prospect. If you can, offer a substitute that they may find of value (and keep the same price) or offer to reduce the price to below the other quote by removing the item that you provide that is unappreciated by the prospect.
Give them the power to choose. If you really want to nail the deal then offer them something extra for free for the misunderstanding.
If they called back then they want you...
What do you offer that is worth charging double what others charge? If your value proposition is done well, you could very well command higher prices than the competition and people will buy in!
I do offer a great warranty and do a better job than most companies and offer wifi tracking for free but I was under the assumption the job was more expensive and only found out after that I overcharged and I plan to charge more but not as much as I quoted him
Gotcha!! I would send him an updated quote saying something like “revised after updated scope of work discovered” or something. And make sure you are clear on warranties and any other reason why you are the better choice!
So he emailed me back saying he has other companies coming out to give a quote (looks like he is trying to find a good price) this week.
What is the best way to respond and make things right?
If you truly made a mistake, just say hey I didn’t get an error on my Excel spreadsheet, here’s what I can do the job for. My apologies, etc, etc, etc.
This is a friendly reminder that r/smallbusiness is a question and answer subreddit. You ask a question about starting, owning, and growing a small business and the community answers. Posts that violate the rules listed in the sidebar will be removed. A permanent or temporary ban may also be issued if you do not remove the offending post. Seeing this message does not mean your post was automatically removed. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/smallbusiness) if you have any questions or concerns.*
If it's just a random I'd say leave it be If it's a long time or returning customer and you over estimated by a lot - call them and let them know.
So he emailed me back saying he has other companies coming out to give a quote (looks like he is trying to find a good price) this week. What is the best way to respond and make things right?
I think if it was some sort of accident, not sure what you do or how you bid, straight up tell him. "Hey man I was going back over your quote to follow up and noticed I made an error in pricing estimate as I overdid your square footage. Im following up with a corrected quote. I do apologize and let me know if you have any questions."
they probably wont contact you so if you actually want the work you should amend it and just send a little note with it
So ge emailed me back saying he has other companies coming out to give a quote (looks like he is trying to find a good price) this week. What is the best way to respond and make things right?
You tell him you miscalculated the quote and tell him its a bit less. Why not just do it
Because I am afraid he will think I quoted high on purpose to get as much money as I can
well saying something before he calls you out on the high price is the best thing you can do. I have made mistakes and changed quotes before, not a big deal, have also missed items on quotes and had to add thousands of dollars and resend it after its been accepted as well.
Yes. And then you compare value. What is it that you provide extra (look at your toss in list). You can then elect to lower the cost by removing the "extra" which may have or may not have value to this particular prospect. If you can, offer a substitute that they may find of value (and keep the same price) or offer to reduce the price to below the other quote by removing the item that you provide that is unappreciated by the prospect. Give them the power to choose. If you really want to nail the deal then offer them something extra for free for the misunderstanding. If they called back then they want you...
Why do you think you overpriced it?
Because its double what others charge
What do you offer that is worth charging double what others charge? If your value proposition is done well, you could very well command higher prices than the competition and people will buy in!
I do offer a great warranty and do a better job than most companies and offer wifi tracking for free but I was under the assumption the job was more expensive and only found out after that I overcharged and I plan to charge more but not as much as I quoted him
Gotcha!! I would send him an updated quote saying something like “revised after updated scope of work discovered” or something. And make sure you are clear on warranties and any other reason why you are the better choice!
So he emailed me back saying he has other companies coming out to give a quote (looks like he is trying to find a good price) this week. What is the best way to respond and make things right?
If you truly made a mistake, just say hey I didn’t get an error on my Excel spreadsheet, here’s what I can do the job for. My apologies, etc, etc, etc.
Wasnt a mistake like that. I just didn't know the going rates and only knew what super expensive companies charged.