Clients Appreciate Transparent Quotes

Almost no one likes rejected quotes, and underestimating hours is far from ideal. So, how do you create the optimal quote for both you and your client? Keeping has the answer.

Optimal Hour Estimates Using Tasks

Estimate too high, and you risk losing the project. Estimate too low, and your profit margin suffers. With Keeping, you can track hours across all projects and distinguish between different activities. We call these tasks. Using tasks, you can easily calculate what previous projects have cost and generated per hour.

Estimate too high, and you risk losing the project. Estimate too low, and your profit margin suffers.

Tasks Help Bridge the Gap Between Actual and Estimated Hours

In Keeping, you can allocate estimated hours across various tasks. These don’t all have to appear on the final quote but are important for post-project evaluation. With past projects as a reference, you can compare initial estimates with actual hours worked, providing valuable insights to refine your current estimates.

Determining the Ideal Cost Price

Let’s say you’re hired to create a poster with illustrations. The tasks are divided into: illustration, graphic design, and project management. You estimate that each task will take around 10 hours at a rate of €50 per hour, totaling 30 hours.

Looking back at past projects, you can determine the average cost per hour. If you aim to pay yourself at least €25 per hour plus €5 in expenses, your cost price is €30 per hour. This means the project would incur a loss if it exceeds 50 hours.

Creative blocks happen from time to time, so knowing how long they typically last can be helpful.

Beyond a Better Quote

You can also incorporate alternative pricing models into your quote, like Agile pricing, where you set a fixed budget but keep the project scope flexible. This allows you to focus on invisible factors that impact quality significantly. You can still refer to hours logged in past projects to provide an estimate.

Additionally, you might persuade clients to pay you hourly. In this case, time tracking is essential, as clients will want to see how you spend your time on their project.

Track Your Hours for Free?

Keeping is the online solution for time tracking. Log hours and gather valuable insights with tasks for future quotes! Experience effortless time tracking!