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Why Budgets Are Backwards

Many firms ask customers for their budget before hearing their requirements.  Likewise, many customers volunteer a budget without first knowing their requirements.  This seemingly outdated industry tradition only serves to waste time as it completely ignores (while ultimately side stepping) the question that actually matters: What are you looking to achieve?

Firms should get in the habit of providing estimated price ranges while building a scope, and customers with a budget will likely need to be a little flexible in either what they’re willing to spend, or what they’re willing to receive.  The best way to scope a project is to create a wish list of items and prioritize them.  The next step is to price the project out in its totality and pair down your requirements to land somewhere close to the amount you originally intended on spending.

What you don’t want to do is go with a provider that promises you champagne on a beer budget.  Find a provider that honestly assesses your project’s needs and works with you to refine the scope to meet your financial constraints.

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