Why setting a budget is important

So, you’re diving into a creative project and thinking about teaming up with a branding agency? That’s awesome!

But before you pop the champagne, let’s talk about something super important: setting a clear and realistic budget.

Here’s why:

Expectation Management

Imagine walking into a car showroom without a clue about the type of car you want – how many showrooms would you need to walk into to find your new car? Would you do your big food shop, grabbing all the fancy brands, only to realise at checkout that your wallet’s not ready for that kind of commitment.

Setting and sharing your budget upfront allows the agency to align its creative services with your financial expectations, Instead of a vague back-and-forth, transparency from the start allows for a smoother, more enjoyable process where both parties are on the same page, working towards a shared vision.

Financial Clarity and Control

A well-defined budget helps manage expectations between you and the agency you’re working with. It sets the stage for transparent discussions about what can realistically be achieved within the budget. This clarity prevents any misunderstandings and ensures that both parties are on the same page regarding the scope and scale of the project.

Essentially, it saves any potential awkward conversations between you and the agency you’re looking to work with – happy days!

Prioritisation of Resources

Setting a budget makes you put on your thinking cap about what’s truly essential. It’s like packing for a trip; you focus on the must-haves to make sure you’re set for success.

Focusing on your must-haves ensures that your budget is spent on elements that deliver the biggest return on investment, rather than spreading your resources too thin.

At TPSquared, we’ve got this nifty tool called Streamtime, who recently became B Corp certified. It helps us keep our ducks in a row – planning, scheduling, tracking time, quoting, invoicing – you name it. We’ve got our process game on point!

Stat Alert: Around 73% of organisations that roll with a formal project management approach often hit their goals (teamstage.io). So, laying things out clearly? Totally worth it.

Setting a budget is like having a trusty map – it guides your spending, set expectations for delivery timescales and keeps those “uh-oh” moments at bay.

Avoid Scope Creep

Ever started a project and halfway through thought, “Hey, let’s add this… and that… and oh, maybe this too!”? That’s scope creep sneaking in. A well-planned budget helps keep things on track, so your project doesn’t spiral into something unrecognisable.

Heads Up: About 52% of projects experience scope creep, leading to blown-up timelines and budgets (teamstage.io). Setting boundaries from the get-go? Total lifesaver.

Why is scope creep bad? Well…

For you – More deliverables mean more time and cost, which can quickly eat into your budget and delay your goals. Suddenly, that ‘quick extra tweak’ turns into a full-blown redesign.
For the agency – Constant changes disrupt workflow, affect scheduling for other clients, and can compromise quality when rushed. Nobody wants a half-baked campaign because time ran out!
For both parties – If the project drags on longer than expected, frustration can creep in. You might feel like you’re not getting what you originally wanted, while the agency might feel like they’re working extra for free. Awkward conversations, misunderstandings, an unenjoyable experience and even resentment can build up—nobody wants that!

Have you got a project in mind AND a budget allocated? Get in touch today to start shaping your brand and business.

TPSquared Limited
Gravel Hill House
Gravel Hill
Wombourne
Wolverhampton
WV5 9HA

☎️ 01902 356280
💻 hello@tpsquared.co.uk