“Good, Fast or Cheap – Pick one”
That’s what my CIO told me at his first briefing when I took my CEO position.
“If you want a good system, you won’t get it fast or cheap
If you want it fast, it won’t be good or cheap
If you want it cheap, it won’t be good and you won’t get it fast”, he went on to explain.
And you know what, while it’s not that black and white, it is pretty true.
The same goes for how we want to position our product or service business – because you can’t be everything to everyone:
Is your product the best?
Is your product the cheapest?
Do you have the best customer experience?
How are you positioning yourselves to your customers and how does that translate to the focus you instill in your business, to what is core to your growth and profitability?
There is no wrong here. There is only clarity of purpose or lack of focus.