It is a bit of a cliche, but, the web is a fast evolving medium. People don’t ask wether you have a website, they ask what your address is or just expect you to be there when they search.
If you do not have a big budget and existing infrastructure to effectively run a large multi featured website, I would always suggest picking the most important objectives and concentrating on those first.
As part of a companies overall branding experience, I believe, it is better to have a smaller site that delivers strong brand consistency, than to try to get something built that is too ambitious and then lose out on quality and the ability to support your online offering effectively. This can result in a diluted brand, out of date website features, unanswered emails and posts… you get the idea.
Sometimes, it is hard to break away from the notion of a website as a collection of pages. But, the reality is that most decent web designers and developers are building web systems for their clients that are focused on creating content. Most of these systems offer additional feature upgrades allowing your online presence to grow with your business.