Just saw a stat that 60% of IT consultants make pricing mistakes on their first 5 bids

Came across it on some consulting blog yesterday and it hit me hard because I definitely underpriced my first 3 gigs. Has anyone else noticed this pattern in their own early work?

3 comments

3 Comments

craig.parker1d ago

Happens with everything new you try, i guess your brain just needs a few reps to get the numbers right.

joseph_green131d ago

I gotta push back on "your brain just needs a few reps" though. It's not about reps, it's about not having good data on what the market actually pays. You can run 10 bids and still mess them up if you're guessing at rates instead of researching what competitors charge.

garcia.cameron23h ago

Ngl, I've been there. I once bid a whole plumbing job at what I thought was a fair rate and found out later my competitor was charging almost double for the same work. Made me feel like I was pricing a garage sale instead of a real business. So yeah, having the data matters way more than just throwing numbers around and hoping your brain figures it out. But tbh, even with all the research in the world, my first few bids still looked like I guessed them while half asleep.