web design budget pt. 1

How to budget for your web design project Part.1

How much should you spend on a website? That’s the eternal question and I’m afraid it isn’t easy to answer. The truth is that there’s a few things that you need to understand about yourself and what you’re trying to achieve before you can really figure out how much to spend on a website…Luckily I’m gonna take you through all of those things and help you create a web design budget that’s right for you in three videos.

In this video I explain a few things that you need to be aware of when you’re making a budget, as these things can inadvertently influence your decisions and you run the risk of under-or-over investing.

1) Recognising that the first price you hear will be your ‘anchor’ and you’ll use this price as a point from which you base all other value judgements, regardless of what it is. This can limit your expectations and stop you from engaging in the right conversations you need to have.
2) You are naturally risk-averse and like the rest of us have a good deal of loss aversion. We’re hardwired to avoid loss and will want to spend as little as possible therefore you could be under investing in your website. Buy cheap buy twice!
3) Understand whether you’re coming from a pain or a gain perspective: do you want to gain something new from your website or use it to solve your existing problems. The amount you’re willing to spend will be determined by the perspective you are coming from.
4) Finally you need to fully understand your business’s objectives for the website and work out what it’s worth to you. This will result in you starting to create a realistic budget that will gets a return that’s inline with your expectations.

To find out more about the things to look out for when creating a budget, watch the video below.

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