One thing that I’ve seen trip up a number of business owners is the myth that websites are expensive. This affects people both ways. Some people, expecting the website to be expensive, have spent way too much money on a website that doesn’t even work. That really hurts.
More often, I talk with lots of people who consider a website as an expensive prerequisite to doing business. So they do their best to keep the “expense” as low as possible.
So, let’s look at how we define “expensive.” As a consumer, when we want something, the important question is, “What is the cost?” Many people will drive across town to buy the TV they want because it’s on sale for $100 off. Sometimes business owners bring this same idea into their businesses.
Successful business owners have a different mindset. They don’t ask, “What is the cost?” They instead ask, “What will my return be?”
Here is a trick question that illustrates this key distinction: Which is more expensive, a $1,000 website that makes $100 a year or a $6,000 website that makes $100,000 a year?
While the $6,000 website is a larger investment, the $1,000 website is actually more expensive, since it’s losing the business money!
What would it mean to you if your website suddenly generated an additional $100,000 per year in sales that you didn’t have to work to get? Would that be worth the $6,000 investment?
When done wrong, the website IS expensive. However, when done right, your website can provide a huge return.
I have a friend who originally spent close to $80,000 on a website that literally generated $0 in sales. Now that’s an expense! He then had us build a new site for less than $5,000, and has more than made his lost $80,000 back.
The truth is, you don’t need a website for your business. I know a number of people who get by without having one. But you may WANT a website that will help you grow your business quickly. Most of my clients see their website as an investment rather than an expense.
What is the ROI on your current website?
To your success!