The Problem With Small Budgets

 
The Problem With Small Budgets #businesstips #budgeting #budgettips
 

Have you ever heard “I want THE BEST xyz service BUT on a tight budget”? Or maybe you’ve even been this person.

The problem is, you aren’t going to get THE BEST on a tight budget.


Sure, you can get decent but you are not going to get the best.

Go to google and search for the best of any object/service/place, you will find THE BEST is in fact the more expensive option, there will always be a cheaper option available but that cheaper option is also going to be of lower quality.


Let’s look at a real life scenario:

Cupcake branding and website design

Tracy is ready to start her own cupcake business but only has $200 to spend on logo design alone and $500 for her website design. The popular designer in town charges $1500 for branding and $2500 for website design but she doesn’t think these things should require a loan and feels she can “make do” with something on the cheaper side since she is just starting out.

Tracy finds a designer to work at her desired budget and is satisfied with the outcome.

Fast forward one year down the road and some issues are starting to surface.

Some of these things include her social media and website not being cohesive or on brand due to the fact she didn’t invest in a full brand identity, her website isn’t popping up on google search results because her $500 budget didn’t cover SEO, only 2% of her website visitors are actually converting into customers, and most of her ideal customers are choosing the cupcake shop down the road that has all the pretty pink colors and stunning website.


Can you imagine how many more cupcakes Tracy would’ve sold in her first year had she truly invested in her branding and website design from the start?


Often times I see start up businesses just like this one reaching out in hopes of building a solid brand with a stunning website… the only problem, they don’t have “the budget”. And that’s totally okay BUT your business is supposed to be an investment in your future, it’s something that is going to require some spending just like a college degree or a new house.

All that being said, I do understand some people are in certain circumstances that really do not allow for a loan or big investment but hopefully this post really made you think!

~ Kenzi