There is a holy triangle that can be described in five words as good, fast cheap – pick two.
What it means is:
Choose fast and cheap, it will not be good.
Choose cheap and good, it will not be fast.
Choose good and fast, it will not be cheap.
Think McDonalds. It’s fast, cheap but definitely not good. Remember that movie featuring Morgan Spurlock called Super Size Me?
Another example where I could hold this holy triangle true is with web design/development. Having a professional digital agency design, develop and provide support to your web site is certainly not cheap. Working with the right agency, they can be good and fast – like Kreative River. I once choose fast and cheap and it was horrid beyond belief. It is embarrassing to think Darling Betty was represented by a site so bad. The guy did a super crappy job and it clearly showed.
Apparel is the same. Take for example a US manufacturer for kids clothing in NC. They have done a phenomenal job of growing their business organically although they recently got funding from Steve Case to the tune of $20M. They sell all kinds of kids apparel for cheap – we are talking around $30 or so. I would say they fall in the cheap and good part of the triangle. You order online and because it’s cut to order, it can take 2 weeks or more to be delivered. But this company is turning over more than 30 000 orders a month which is insane. But good for them. I am happy for their success.
One example with food I think does not follow the rules of the holy triangle is Chipotle. For the non US people reading this, it is a fast food Mexican chain here in the US. The food is good, cheap and fast – sometimes. It’s quite popular here and some stores have people lined up out the door and you could very well stand in line for over 20mins – which would push it back to the cheap and good part of the triangle. The food is sourced locally and is good and fresh. It’s definitely our go to food if it’s one of those days we couldn’t be bothered cooking or are in a rush.
How do you like your goods and services?