This is the sin that leaves money on the table. Buyers don’t always communicate what they want, or what is most valuable to them. They want their order on-time, but is getting it three days faster more valuable to them? Some buyers may tell you they need an expedited order, but they want it at … Continued
Many job shops have only one person who does all the quoting for the company. While consistency is great, what happens when this person gets sick, moves, or retires? Having a single point of failure in any part of your business is a big risk, and it is no different for quoting. Quoting is one … Continued
You know the drill all too well. You receive an RFQ and your quoting process begins. You want to get the quote out fast because you know many buyers expect a 24-hour turnaround on quotes (a recent survey we conducted to 370 buyers shows that 68% of buyers expect a quote in less than 24 … Continued
In quoting, redundancy is a time killer, and since getting the quote out as quickly as possible is critical to winning a quote, time is something you can’t afford to waste. There is a lot of intellectual knowledge that goes into quoting a job, so why not reference past quotes where you already invested that … Continued
We have found that during the Covid-19 pandemic, some shops have been able to thrive while others have been severely affected, prompting the question of why some businesses are on the upswing while others continue to struggle. Here we go over some of the reasons that we believe are behind this disparity. Revenue concentration, working … Continued
In short, I love Manufacturing. I find a certain type of elegance and beauty that manufacturing has to bring people, as well as ideas, together from a diverse set of disciplines to accomplish a common goal. From a young age, I have always appreciated what it takes to make something from scratch. This started from … Continued
Buyer expectations have shifted. They want their RFQs responded to within 24 hours. Buyers are measured by their ability to get things on contract, to get them delivered on time, and on budget – in that order. If you can’t respond to an RFQ quickly, then the buyer will go elsewhere. Remember that your quote … Continued
Whether you have been in business for years, or are just starting out, promoting your business is critical to your success. Many job shops have limited marketing resources, limiting how much promotion they can do. Yet marketing is the cornerstone of attracting buyer attention, and therefore winning jobs – if your buyers don’t know you … Continued
It is difficult to turn down a job. You need more revenue to grow, and more jobs mean more revenue. You also know that doing well for a customer on a small job may mean that they come back to you in the future with a more substantial order. Yet, your time is valuable and … Continued
Many job shops win about 30% of the jobs they quote, which, of course, means they lose 70% of the jobs they quote. If you treat every quote in the same way, you will spend the majority of your time working on quotes that you will not win. The best way to increase your win … Continued