Is Your Website an Asset or a Liability?
Before we look at answering this question, let's assume the following definitions for assets and liabilities
Asset: Something that puts more money into your pocket than it takes out
Liability: Something that takes more money out of your pocket than it puts in
So, where does your website fit into this?
Many small business owners see a website as a necessary liability. Like a logo or a business card, a website is seen as just one of those things you must have so you don't look unprofessional.
But what if your website could bring you sales that far outweighed the costs of designing and maintaining a website? This, of course, is when a website becomes an asset. It's that place where many new customers have their first interaction with your business and where you get to establish trust and credibility.
A well laid-out website that captures attention and establishes trust and credibility will almost certainly be an asset to your business. A poorly designed website will almost certainly be a liability. You only get one chance at a first impression and you must make it count. It's that simple.
Ask yourself how much business your website brings you. Does it justify the cost of having a website?
If not, you may need to ask some more questions such as:
How does the design look?
Is it boring and uninviting?
Is it hard to navigate?
Have you used images strategically?
Do they represent your business the way you want?
Does the colour scheme match the personality of your business?
Does it look old fashioned?
Can every section of your website be accessed in 3 clicks or less from the home page?
Do your pages load quickly?
Do you show up on the first page of a Google search for your industry?
Is your website optimised for mobile devices? Do your competitors have better websites?
These are just some of the questions you will need to answer if you are to turn your website from a liability into an asset. If you're not sure of any of these, ask people you know to give an honest opinion.
There are also various online tools you can use to check the functionality of your website. One that we find particularly useful is Website Grader. Simply input your website URL into this tool and press enter. You'll see a breakdown of the performance, mobile functionality, SEO and security. This will help you determine which areas of your website need the most attention.
Now what are you waiting for? Go turn that liability into an asset!