Re: Acceptable time from walk-thru to quotation delivery

[Cam-man <none@xxxxxxxxx>]

Robert L Bass inspired greatness with:

>That's true, but it doesn't always hold.  Although the client may say he's in no hurry, the first bidder frequently has at least a
>slight edge over someone whose bid comes in a few days later.  Formal government bids are all opened at the same time, regardless
>when they arrive so those aren't as sensitive, but most other clients appreciate a quick response.

True.


>
>The OP might want to develop an electronic "cheat sheet" with prices of his most often-used hardware along with prices for average
>wire runs.  That will allow him to give a rough, verbal estimate on the spot which he should clearly state is only a rough
>"guestimate".  Explain that he'll need to work on a precise bid but that the figures should be within n% of the given amount.  That
>way if an eager competitor comes in quickly with a perhaps more costly bid the client is likely to wait a few days for the formal
>proposal.

I'm working on an Excel spreadsheet that will do that with drop-down
boxes, etc...

>
>As to the maximum time, there's really no good rule of thumb for all clients.  However, I've found that about half of all bids are
>lost if I can't get out a reply in 5 days.  After a week, around 80% are lost.  When I can bid within 2-3 days of the walk-through
>or in the case of online sales (since I no longer do on-premises sales) within 1 day I can close roughly 40% of the time.  Due to
>pricing and presentation, these percentages are not likely to apply to most installing dealers.  There will be a correlative
>difference in sales -- just not on the same scale.


Thanks.