February 29th, 2012 by Bob Bly
A sign on the shop floor of a manufacturing facility showed a triangle. Each corner was labeled: one was GOOD, another was FAST, the third was CHEAP. The caption under the triangle said PICK ANY TWO.
It makes sense to me. If you are cheap and fast, you probably aren’t very good. If you are good and fast, you can and should charge a premium fee. If you are cheap and good, you probably don’t allow customers to rush you.
If you are all three — cheap, good, fast — you are under constant pressure and probably not making that much money.
Which are you — good, fast, or cheap?
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