Whenever I am asked for my budget, whether it is in business for a marketing plan or advertising opportunity, or personally for a trip planned or party to throw, I balk. You see budget implies “limitation” and since I live an unlimited life that goes completely counter to my values. This same reaction occurs with most individuals. We don’t want to: a) admit that we have a limitation or b) share that limitation with anyone else. However when asked what I am willing to invest, I become much more open and willing to discuss exactly that, an investment.
In business, I guarantee you will find greater success when you replace the word budget in your client conversations with the word investment. After all aren’t your services or product providing a valuable ROI? Budgets are simply for line item expenses, no return. An investment is not a line item and doesn’t have to rely on fitting into a budget! It offers a valuable return on investment that can be calculated and measured. This has allowed me to take a budget design project of $30K and turn it into an investment of $150K. What will changing your semantics do for you?
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