No doubt you’ve heard the old saying that there’s fast service, high quality product, and inexpensive pricing…and you can pick any two.  That’s a saying that’s been around for many years.  In fact, I can almost imagine Joseph the carpenter using that line.

According to Peter Sheahan’s Flip, those days are gone.  It’s now fast, good, and cheap as the cost of playing at all.  Not only that, but if you’re in a competitive field you better add an x-factor to those three!  What’s that supposed to mean?  Think about it.  If everybody’s meeting the customer’s needs of fast, good and cheap…you’ll have to get your edge somewhere else!  You’ll have to also provide…green, responsible, easy, or some other intangible that puts your product beyond the point of entry.

He makes a good point!  You can see it happening everywhere.  Question is, how does it apply in your world?

Fast, Good, and Cheap as an Entry Point
  • Fast, good and cheap is what happens in a “flat world”. A kind of universal quality emerges. And since it is universal the market offering becomes a commodity leading to “cheap”.
    That’s why business and organizational leaders need to author their own unique quality that moves to a peak above the “flat world”.
    Authoring a brand requires we become creators, visionaries and innovators with a keen empathy for people we wish to serve and sell to.
    What a wonderfully disturbing time we live in!
    Keep creating,
    Mike

  • I’m wondering if the x-factor that Sheahan is talking about is related to branding. With “green” gaining ground, or responsible, or beautiful (like iPod), all could be part of the branding exercise…right?
    mark

  • I’ve seen the author of Gazelles write about the x-factor (I can’t remember his name at the moment) and it does strike me that the “x-factor” is the “different” portion of a brand.
    In your most recent post Porter talks about “positive sum” games as one of the strategy forces and if you listen carefully to that portion of Harvard interview it too reminds me of “brand difference” or an “x-factor”.
    Have a great weekend.
    Keep creating…mind racing thoughts,
    Mike