The dwindling sales numbers left behind in the wake of COVID have left many business owners asking themselves what their businesses could do better. And print owners are no exception.
What does it take to have a print company that can stand the test of time? One that continues to succeed no matter the storms it may weather? It starts with one, not-so-simple task: self-assessment.
Self-assessment requires you to ask yourself questions like these:
- Where does my print business need the most improvement?
- Is my order volume where I want and need it to be?
- Will my profit margins support us now and in future growth?
Self-assessment is risky because you have to have an open mind to see and accept areas in your business that need improving. But, it’s a risk worth taking. Your future print buyers, your team, and your bottom line will thank you for it.
Over the next six weeks, we’ll unpack six essential items that print companies who want to succeed need to do well. You’ll learn why these things are critical to your business, what you can do to improve in these areas, and you’ll be able to walk yourself through a simple self-checklist to see where you need to focus your efforts better.
Ready to get started?
What’s the Big Deal About Estimating?
There’s simply no substitute for the winning combination of speed and accuracy when it comes to great estimating.
But why? What does it matter if you create your print estimates by hand on sticky notes, or you have the most high-tech estimating software on the planet?
It matters because if you’re you creating print estimates for your customers the same way you always have, you may be missing out on one (or several) of these benefits of a superior estimating platform:
1. Superior estimating saves time.
If your current estimating method takes an average of 15 minutes to create each unique estimate and you have to create 10 estimates per day, that’s two and a half hours a day you’re spending on estimating.
Is that the best use of your time?
Now, imagine you implement an estimating solution that cuts that time in half. What could you do with an extra hour of manpower each day? Follow that math through over the course of the year and it equates to over 30 days of manpower you’d save! You could easily increase your efficiency and reduce your labor costs.
2. Superior estimating improves accuracy.
Manual or subpar estimating not only wastes your valuable time, but it also increases your vulnerability for costly human error.
If you underestimate a job or you estimate it incorrectly, you self-inflict deep cuts in your own profit. On the other hand, if you overestimate a job, you could easily be undercut by a competitor and lose out on the bid.
With a stellar estimating solution, you can dramatically reduce the risk to your bottom line while still providing quick and accurate information to your potential print buyers.
3. Superior estimating provides the relevant information you need.
If you hired a professional accountant today to audit your print business, would you be able to accurately answer questions like:
- What is your average job profitability?
- Which inks and papers have the greatest profit margins for you?
- Are you charging enough for your services to sustain current and future growth?
- Is there a different press these types of jobs could be run on that would reduce costs?
- Is your labor rate sufficient to cover your time on each job?
With an on-point estimating solution, you’ll be able to have your finger on print cost options at all times. And, you’ll be able to quickly see where you’re profitable or where things need to be adjusted.
4. Superior estimating improves your print buyers’ experience.
How long is too long for a potential customer to wait for you to produce a thorough and accurate estimate?
In today’s microwave-minded society, you don’t have time for crockpot quotes. Print buyers expect answers quickly, and most companies who win bids do so simply because they were the first.
You need an estimating solution that allows you to work quickly without sacrificing your time or money. A solution where you can:
- Quickly and easily create custom quote requests on behalf of your print buyers, so you’ll always have an answer at-the-ready quickly!
- Breathe new life into those aging quotes that never went anywhere
- Put your best foot forward with the ability to present beautifully designed quotes that can be sent through various channels (email, PDF, etc.)
If you’re struggling to lock in new customers, it’s time to start delivering completed jobs before the competition even delivers its pricing.
Ready to Check Yourself?
- Are you spending more time than necessary in creating estimates for prospects and customers?
- Do you start from scratch with every estimate you create?
- Do you know if every job you do is profitable and by how much?
- Do you frequently overestimate or underestimate because you tend to make it up “on the fly?”
- If you have an estimating software, is it outdated, unreliable, or difficult to use?
If you answered “yes” to one or more of these questions, your print business could benefit from a superior estimating solution.
Make Your Estimates as Good as Money in the Bank
Guarantee profitability from every job, manage your clients’ expectations, and deliver answers faster than you ever thought possible when you implement a superior estimating solution for your print business.