The wisest investment is the investment in your business. Your business affects every area of your life, without investing in your business you cannot invest in your family your health or your future.
The man who pays $10 for a logo brings to mind the man who is so busy bent over picking up pennies that he misses the dollars waiting at eye level.
There are aspects of your business that warrant a frugal approach, these are the "unseen" aspects such as office supplies etc. The visible aspects of your business, such as your logo and your website, will be negatively impacted by low investment decisions the likes of a $50 website or $10 logo. Your logo and website speak volumes to what your business represents. Speak wisely.
What are you saying?
1) I haven't taken the time to develop an incredible logo and will probably not take time for you either
2) I have a visibly low quality website and therefore have low quality services as well
3) My logo and website are generic and budget because my business is not successful
4) I underestimate the sophistication of my clients and erroneously assume they won't notice or care that my site and/or logo looks dated and cheap compared to my competitors
Less Money, More Problems
You get what you pay for. Paying $10 for a logo online gets you a low res jpg you can replicate anywhere else and paying $50 for a website gets you a broken site that you can’t figure out how to fix unless you pay $$$/hr to fix it. Is your business worth putting money into for the return you’ll get or are you already planning on failing by wasting money on broken services.