There's an adage in business that with any product or service, you can have two out of three critical things. These are:- Price
- Time
- Quality
Not familiar with this concept? Here's how it works:
- If the price point and deadlines are fixed, be prepared to sacrifice some quality.
- If the timeline is tight and quality is essential, be prepared to pay a higher price.
- If the price point is fixed and quality is non-negotiable, be prepared to wait longer for a product or service.
So, what's my point?
During the past few months, I've been deeply involved in several projects, all of which have required wide-ranging research on a variety of topics related to different industries and sectors.
If website content serves as an accurate indicator of current information trends, one thing is becoming clear: In today's climate, where timelines are tight and budgets are tighter, many individuals and organizations are making a practical but potentially problematic decision to forego quality and settle for two out of three.
Update
This short post prompted a lively discussion with some business colleagues, who shared these observations:
- The new performance benchmark is "Good enough"
- The new goal post is "Get it done and move on"
- The new metrics are "Clicks and quantity"