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Clever lesson I learned in college.

by Auctiondebteliminator
16 replies
It's been a while,

But I remember taking a business class in college (I ended up graduating in Linguistics and Aviation Professional Pilot, but came full circle and actually DID become a businessman)

And I remember one of my entrepreneurship professors giving a lesson and he told us something that has stuck with me for a while...


"You can have it FAST, CHEAP, and GOOD..... so long as you pick 2 out of the three"

Touche, professor.


Touche.

I find it QUITE applicable to IM....
#clever #college #learned #lesson
  • Profile picture of the author professorrosado
    The truth of any matter can always be found in parameters of three. You can pinpoint just about anything.
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  • Profile picture of the author Lightlysalted
    Great tip - sound like your professor knew what he was talking about!
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  • Profile picture of the author Publisher1953
    Well, in exceptional circumstances, some businesses have been able to deliver "fast, cheap and good" (in relative terms). Guess what, they have become extremely successful enterprises. Think Google (for advertising) and McDonalds (original fast food). In our own businesses, the closest we can come to delivering all three of the variables, the more likely we are to succeed IF of course we have our costs under control.

    In fact, this forum fits the qualifications -- It's fast, cheap (free for most, very inexpensive for those who wish to pay a bit) and "Good" in that there is a wealth of useful resources and information here -- mostly for free.

    In a practical sense, however, most of us will have to make some tradeoffs and our businesses can still be quite successful if we get two of the three variables right, and we are certainly going nowhere fast if we get none or at most one correct (unless we are really "good" at the one variable!)
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  • Profile picture of the author Will Edwards
    OK ... so how do you get it CHEAP and Good?
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  • Profile picture of the author Auctiondebteliminator
    Sacrifice the 'fast'

    I see that as 'doing it yourself, making great content, not looking for shortcuts, and watching the natural progress of greatness happen over TIME'
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    • Profile picture of the author Will Edwards
      Originally Posted by Auctiondebteliminator View Post

      Sacrifice the 'fast'

      I see that as 'doing it yourself, making great content, not looking for shortcuts, and watching the natural progress of greatness happen over TIME'
      See - it doesn't work - you are discounting the value of your time - sorry

      I prefer the old Project Management triangle: TIME, QUALITY, COST. It's probably what your professor was trying to say. Now that does work.

      Will
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      • Profile picture of the author Auctiondebteliminator
        Originally Posted by Will Edwards View Post

        See - it doesn't work - you are discounting the value of your time - sorry

        I prefer the old Project Management triangle: TIME, QUALITY, COST. Now that does work.

        Will
        It's a monetary concept here.
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        • Profile picture of the author Will Edwards
          Originally Posted by Auctiondebteliminator View Post

          It's a monetary concept here.
          OK, so last comment from me because I guess you want to defend your position and I really don't want to argue with you. However 'CHEAP' is a 'monetary concept'.

          Will
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  • Profile picture of the author EmilyAbbott
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    great lesson, great teacher. :-)
    And so very true!
    We can not have everything, can' t we? But I thin two out of three is quite reasonable :-)
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    • Profile picture of the author Auctiondebteliminator
      Originally Posted by EmilyAbbott View Post

      great lesson, great teacher. :-)
      And so very true!
      We can not have everything, can' t we? But I thin two out of three is quite reasonable :-)
      Absolutely,

      And I think that is the real point of it as well.

      Fast and cheap will NOT be good. (Certain content writers come to mind when I think of this......)

      Fast and Good will NOT be cheap.

      And with one poster saying that McDonalds was cheap, fast AND good?

      I'd wholeheartedly disagree.

      Fast and cheap? Yes..... But I promise any no-armed crippled ape with 4 STD's, 3 hairs, and gangrene can make a better burger.
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  • Profile picture of the author ymest
    Excellent! Totally agree with it!! :
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  • Profile picture of the author Auctiondebteliminator
    Yeah, I was just referring to the specific lecture--
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  • Profile picture of the author smadronia
    Originally Posted by Auctiondebteliminator View Post

    And I remember one of my entrepreneurship professors giving a lesson and he told us something that has stuck with me for a while...


    "You can have it FAST, CHEAP, and GOOD..... so long as you pick 2 out of the three"
    I had this discussion not that long ago with some friends I went to high school with. They were arguing that anymore, you're lucky to get one of the three.

    I don't necessarily agree, but I do think anymore, you need to think long and hard on which two you want to pick. Not all situations warrant picking the same two.
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  • Profile picture of the author Tradeout
    Originally Posted by Auctiondebteliminator View Post

    It's been a while,


    "You can have it FAST, CHEAP, and GOOD..... so long as you pick 2 out of the three"
    Your professor got it wrong! You can't have all 3.... And picking 2 out of the 3 definitely won't get you all 3.

    It goes 'pick any 2 of the 3'

    Fast + cheap = will not be good
    Cheap + good = will not be fast
    Fast + good = will not be cheap
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  • Profile picture of the author Auctiondebteliminator
    You're right, and I definitely wasn't suggesting you have all 3 by having the 2.

    That was the lecture.

    If you WANT all 3, you can only have 2.

    That is what he and I are saying.
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  • Profile picture of the author Jtraits
    that is the basis, basically ... those 3 are the important factors but you choose only 2 because the ones that you choose are the ones that for you are the best and you can elaborate with them
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