How to Create a Winning Estimate

A potential client has stumbled your way, either through your brilliant marketing or by pure chance (kidding…it was definitely your brilliant marketing), and they seem interested in your services. You two have good potential client/potentially-hired-professional chemistry. From their first inquiry, you two have been flirting…with the idea of working together.

And then they ask the dreaded question: “Can you send me an estimate?”

That’s when you freeze up. The fluttering heartbeat of one who’s being wooed by a prospective client becomes the frantic bongo-beat of someone gripped by fear. The entire project depends on this moment – the estimate. What if you get it wrong? What if they hate what you put forth and leave you for good?

Okay, first of all: relax! We’ve all been there. But it’s really not as bad as all that. Or at least it doesn’t have to be.

If you’re still getting worked up over presenting your initial estimate to a potential client, chances are you haven’t had enough experience doing so. Or the experiences you did have didn’t go well and you’re at a loss on how to improve your method for the future. In either case, knowledge is your friend. The more you know about estimates beforehand, the more comfortable you’ll feel when the time comes to actually give one. So let’s get into it…

Time is Everything

Thought I was going to say “timing” is everything? Well, I didn’t. Mainly because, if you’re already to the point that you’re giving an estimate, the “timing” is now. You’re already in the act of making things happen!

One thing I will say about timing is, when at all possible, give your quote early on in the process. This is because, if you’ve already invested several hours talking to a “client”, you’re going to have a sense of commitment to them, whether you actually want the job or not – and you’ll be more likely to cave to lower rates if they try to haggle you after your given estimate. By quoting your price early on in the proceedings, you two can part ways comfortably if things don’t work out.

But back to the whole “time is everything” issue. What I’m talking about is: how much time it will take you to do the proposed project.

Before you can craft an educated estimate, you’ll need to know the entire scope of the project. Exactly what does this client need? Before even starting to prepare your estimate, you should know:

• What do they think they need done?


• What is the main purpose of this project? (Here’s where you’ll see if what they think needs to be done lines up with their ultimate goal. Pro tip: if it doesn’t, this is also where you can make some suggestions of your own).


• What quantity do they want of [whatever]? (Pages, graphics, words…).


• Will this project need any additional support, technical or otherwise?


• Who is your main contact for this project? (The more people who are involved, the longer the process will take).


• Will you have direct access to the client’s website, or will your [articles/designs/whatever] be uploaded by another party?


• What equipment is needed?

Don’t know the answers to these questions? Ask!

Once you have a clear picture of the scope of the project, the next trick is to not accidentally shortchange yourself. Account for all of the hours you’re going to be putting into the project – not just the ones leading up to the final results.

I’m going to use writing as an example for a moment:

Most freelance writers will only “estimate” the time it takes them to do the actual writing. Say it takes three hours to sit down and bang out an article. That’s all well and good, but they’re forgetting a few things: the four hours they spent researching, the one hour they spent revising, and the four hours they spent taking care of client issues (meetings, e-mails, invoicing, etc.). All in all, the writer has spent 12 hours working on the project, but they only quoted the client for three.

Consider all of the time it will take you – and take your time putting together an accurate estimate.

Hourly vs. Flat Rates

I’m a flat rate kind of guy. I’ve already talked (in detail) about this before, but it wouldn’t be a proper “estimates” article without touching upon it again.

With hourly rates, you’re more likely to shortchange yourself. Remember the example I used with the writer above? Say that writer was charging $50/hour for the gig, and only charged for the actual drafting of the article (three hours). They’d end up making $150 total. Not too shabby. But, consider this: what if they delivered the exact same quality but had a better, faster, work ethic? What if they could get the draft done in one hour instead of three? Well…then they’d only make $50.

With hourly rates, you may actually be “punished” for working better. And, to me, that just doesn’t make sense.

And you might say, “Well, why doesn’t the speedy writer simply charge $150/hour to make up the difference?” And that’s a good idea, in theory, but you try telling a potential client that you’re going to charge them $150 for one hour of work and see how it goes over.

On the other hand, if you use flat rates, you can simply say, “For this service I charge $150.” No nit-picking over time sheets required!

And here’s another handy tip for flat rates: itemize (list) what you’re going to be doing for the client, but not how much each item costs individually. Only tell them the final total. This will help keep haggling to a minimum.

Aim high, but fair. Use rate guides or ask other professionals in your niche what the “going rate” is for similar services. You want to be paid well, but you don’t want to rip your client off – that’s no way to build trust or garner repeat business.

Sell Your Benefits

You don’t need to be a world-class copywriter to benefit from a pinch of copywriting spice in your estimate pie. Basic copywriting 101? Share the benefits, not just the features.

When it comes to your service, “features” are what you’re actually doing (writing/designing/making pies) for your client whilst your “benefits” are what your service does for your client (makes them seem more intelligent/makes their website look great/satiates their undying hunger for pie). This is also the time when you should share what you – yes, you! – specifically bring to the table:

• Do you have years of experience in this particular area?


• Do you have proven results on past, similar, projects?


• Do you have inside knowledge about the task at hand that will make it more amazing than they could ever imagine?

Let your potential client know why they should hire you, no matter what price you quote. Share what makes you the best person from the job – why you can perform better than any of the competition. Put your best foot forward.

So, to review:

1. Figure out how much time it will take to do the work.


2. Figure out how much you’d like to be paid for that amount of time/work.


3. Share why your work has incredible value and you are well worth the price.

With those three elements in place, you’re well on your way to presenting a winning estimate!

However, if the client still passes, it’s not the end of the world. There’s always more where that one came from.

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