dh

Business Advice from Unexpected Sources?

In Business, Marketing on December 15, 2009 at 11:48 pm

I was watching the episode of Lipstick Jungle where Victory was opening her own boutique and hired the cheap contractor to save money. That wasn’t working out so well. Joe swooped in and began drawing on the wall.

He drew a triangle with a word at each point: good, cheap, fast. He explained that you can’t have all three at the same time. You can have good and fast, but it won’t be cheap. You can have cheap and fast, but it won’t be good. Cheap and good? Be prepared to wait for it.

That really made sense to me. I also started thinking about it from almost an opposite side as a way to evaluate which projects would be worth pursuing. Project A doesn’t have much of a budget but the project doesn’t last long and will allow us to produce a quality project that can help us get more business. Let’s take it! Project B has $ but not enough time for us to produce good work. That’s a pass because we never want to take something that won’t allow us to do quality work. And so on and so forth.

It’s a bit of a twist on the original concept but when looking at Project C that needed us to work for a long time at a low budet on a project that wasn’t relevant to prospects, that had to be a pass. If you can have none of the three, run!

Since seeing that episode, I’ve noticed Joe’s triangle theory in a couple of business books and articles. It’s quite possible it’s common, and I had just never heard it before.

Got me to thinking about other tips or theories that might have been picked up from non-traditional sources of advice. Please comment if you’ve had a similar experience.

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  1. Hi Dana!
    SOOO true. I just recently finished a project. small budget, but quick. I knew it would be painless. the client contact I would be one very decisive person, not a committee. I also knew it was a foot in the door potentially for a lot of future work.
    That was a no-brainer for me.
    When weighing the profitability of projects, we need to look longer term sometimes.

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