Wouldn’t it be great if people had the appropriate budget for things and they just told us how much it was and we told them, “Yes!”
Regular readers of my blog may notice that I don’t believe in entertainment budgets for most things.
For example, I want to buy shoes to run a marathon. There are several running shoes that cost $50, so I set my budget for shoes at $50. Then, I realize I need arch support. I research it and it’s complicated. Some shoes say they have good arch support, but don’t actually. I’ll need to spend at least $75 to get dependable arch support. Then, my running coach tells me I need a certain responsiveness in my sole or I will mess up my hips in a long race. So, I’ll need to spend at least $130 to get the ones recommended by my coach. What do I do? I change my budget because…
- My budget was just a guess in the first place
- I looked at the market and determined my budget was wrong
- I had an expert I trusted tell me that the budget was wrong
- I realized sticking to my budget would cost me more in the “long run.”
The budget doesn’t have to go up only. If we are trying to serve our clients, we might be able to save them money when they guess wrong about their budgets.