We all know that there are those people that simply believe great design "just happens". So here is a formula a co-worker brought to my attention that I've found useful in explaining how the design process works to clients:

Quality, time and cost, are the three elements that make up the design process. For simplicity, let's label these:

Q = Quality
T = Time
C = Cost

Basically, the idea here is that when dealing with clients, it's rare to have all three of these at the same time. So the idea is to pick two, and the remainder is what is sacrificed.

Formula 1:
T+C = Q

You have a large budget and lots of time? Expect great design. On the flip side, if you don't have money and you need a fast turnaround, don't expect good design.

Formula 2:
Q+T = C

If you want quality and time is important (ie. fast turnaround), be prepared to pay for the rush job. On the same token, if you spend a lot of time on revision after revision in the search for the perfect design that suits you, don't expect a small bill.

Formula 3:
C+Q = T

If quality is what you're looking for and you have the money to spend to get it, then realize that it takes time to design what you need.