If you are an entrepreneur, work as a freelancer or have a business (online or physical), surely at some point you have considered how to budget to offer your services.
The delivery of the budget and its consequent customer acceptance It is one of the crucial stages when closing the sale of a service.
For that reason, when you deliver your budget, you must show your best face, your most professional side.
(You would be surprised by the number of clients who have accepted my budget and not those of the competition just because of the way I present my proposal).
Therefore, for offer a quality service as a freelancer You must take care of all the details, from the moment the client contacts you until they accept your budget and you start working together.
What is budget
A budget is the document where the professional makes a proposal to the client who wants to hire his services.
In this document the professional specifies in detail all the details and characteristics included in said service, as well as delivery times and amount to be paid.
That is, in the budget it must be clear what exactly the service that the client is going to hire consists of, what characteristics it includes, the times or calendar activity and amount to pay.
Those would be the essential data, although I will explain later what data parts you should include in your budget.
When talking about the types of budgets, it should be noted that there are several modalities, but I am going to focus on those that make references to entrepreneurs, professionals and freelancers.
Thus, I am going to mention three types of different budget:
# 1 Flexible budget
This type of budget is open to possible modifications, changes or extensions both in the service and in the budget.
I do not recommend it if you work as a professional offering your services to third parties.
# 2 Fixed budgets
By cons, this type of budget is closed and does not admit changes, extensions or modifications to the service.
It is the modality that I use and I recommend you if you are freelance.
As an advice, define very well the characteristics of your service, as well as your rates, so that later there are no surprises.
(You would be surprised by the number of clients who are going to ask you for extras that they do not have contracted for the same price, without wanting to pay more).
In my case, if the client wants to expand the characteristics of the service once we have started working, there is no problem.
What do I do in that case?
Very easy. I expand the budget with an annex or a new one is made including those extras.
# 3 Short / long term budgets
Other types of budgets are those that are conditions for the duration of their validity or the estimated time for the provision of the service.
In this case, we find two options: short-term and long-term budgets.
As a tip, I suggest you include the period of validity in the budget.
How to make a budget: essential parts
At this point, surely you are asking questions like how do I make my budget? What do i have to include?
Don’t worry, here I am going to tell you all the parts that you can include.
I wanted to summarize those that I consider essential when preparing a budget, which are the following:
- Introduction / Welcome. It is the cover of your budget, the first impression that the potential client takes. I like to put your name here to personalize each proposal.
- Presentation. Talk a bit about yourself, your experience, your strengths, etc. Nobody better than you to sell yourself. Don’t go too long, it is not a resume. With a few lines that speak well of you is enough.
- Services. Show what you do, what services you provide and how to help your customers.
- Methodology. Tell how you do it, what is your way of working. You must explain to the client what the work process consists of when hiring your service.
- Portfolio / Satisfied clients. Include logos of former clients, and even examples of your work. They are an endorsement that gives a lot of confidence.
- Proposal. This is one of the most important parts, here you make your proposal to the client based on their specific needs. That is, in the proposal you must collect all the details and characteristics of the service that you are going to offer.
- Budget. The economic part, how much your services cost, what are your rates or fees.
- Terms. Very important too. You must make clear what your service includes and does not include, the payment and billing method, the return conditions, reviews if you are a designer, etc.
- Closing. Don’t forget to say goodbye to your potential client. Put a motivating phrase, a creative photo or simply your contact information, but close your budget well.
Of course, you don’t need to include all of them. I just wanted to introduce you to all the available options.
Also, there are sure to be some more. It is about being creative when presenting your proposal + budget to the client and convincing him 🙂
Budget examples if you work as a freelance
Now that you know what are the parts that cannot be missing in a budget, I have compiled several real examples from professional colleagues.
In this way, you can see what the estimates are that different types of professionals give their clients: photographers, SEOs, copywriters, CMs, designers …
Diego Artola is a copywriter and uses an online tool (betterproposals.io) to generate your quotes and send them to your customers.
Here you can see an example of what your budget is like.
Hugo Cotro He is a consultant and advisor in online marketing and, as you can see in his budget, he includes several different options or packs for his services: basic, professional and premium.
Satur Galán is an SEO and online marketing consultant. From your budget I highlight the different phases of work that you have established for your services.
Also, I really like the tables it uses to show the features and the economics of the service.
Here you can see their budget model.
Charo Pebble She is a photographer and the author of most of the photos that you can see on this website.
In your case, it also offers different options and packs to its customers, each with different characteristics and price.
Here you can see their budget example:
Almudena Morales placeholder image
My friend Almudena Morales placeholder image brings us a budget example for a complete online marketing strategy.
His proposal includes several parts: web design + ecommerce, visibility strategy (SEO and social networks), advertising campaign on Facebook and corporate identity design.
In my case, I use a template that I designed some time ago and modify according to the needs of each project and / or client.
Here you can see an example of what my budget is like:
Templates to make your budgets (downloadable)
Finally, I did not want to close the post without leaving you several templates to make your own estimates.
They are available in Office format (Excel and Power Point). To use them you just have to download them and personalize them with the branding of your business.
I hope that all these recommendations, examples and templates will be very useful when preparing budgets for your future clients 😉