Our Process - Budget
We have used this article many times in our business life, it's amazing how its words ring true through the ages. It's also amazing that many business people don't appear to understand this basic law of business!
The Common Law of Business Balance – John Ruskin 1819 - 1900:
"It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money - that's all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot - it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better."
The budget allocated to a website project must take into account the cost, plus an anticipated return on investment and a timescale required for a reasonable return on investment.
A website budget must include:
- The cost of internal resources required to support the project from discovery to completion, and management of the project after launch.
- The cost of external resources such as consultants, designers, developers, media production, copywriting, hosting, ongoing support, maintenance and marketing.
Costs may vary, depending on the size of the project, from a few thousand to maybe tens or even hundreds of thousands.