Budget pt 3 blog

How to budget for your web design project Pt.3

We’ve travelled a long way down the path of creating a budget for your web design project, and in this video we are going to cover the final piece in the budget puzzle which will help you to put a more concrete number on your project.

To be able to figure out what a website costs, you need to decide how much a website is worth to you and your business. When exploring how much something is worth to you, you’ll need to pay attention to the tangible aspects as well as the intangible ones. Your website could bring you tangibles such as the ability to serve your customers with better information or to ship products to people across the country. The intangibles it could bring include brand recognition, thought leadership or social influence. You should have an understanding of the tangibles and the intangibles based on your understanding of why you’re getting a website in the first place, if you don’t read our blog on the three most important questions to answer before you buy a website.

Use the steps below to help you workout your projects worth:

  • Think about what the future looks like, financially, if you do nothing and continue as you are
  • Now work out the top line savings and bottom line gains that you hope to make from your website
  • Workout the difference between these two scenarios to see what the website is worth to you
  • Make an executive call on what you are willing to invest to make it happen

Make sure you have evaluated where your project sits in the risk and complexity quadrants by watching our vlog on how to budget for your web design project part 2  to help you understand what kind of investment you should make.

To hear about the steps for working out your projects worth in more detail, watch the full video below.

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