The Essence of a Business Maxim
In the realm of business and production, the phrase “Good, Fast, Cheap — Pick Any Two” succinctly encapsulates the inherent conflict among quality, speed, and cost. This adage suggests that achieving all three simultaneously is often unattainable. Customers, therefore, must prioritize and choose only two of these three elements.
This saying has been articulated in various forms over the years. Some variations include “Quality. Speed. Price. Choose any two,” yet the core message remains constant. It highlights the constraints businesses face when balancing these factors. But how did this concept become so prevalent, and what are its origins?
Early Acknowledgment of the Trade-Off
The recognition that quality, speed, and cost are often in opposition predates the modern phrasing of this principle. Source Even decades ago, stakeholders understood that balancing these elements was a challenge. For instance, a 1921 publication noted varying priorities in the construction industry. Property owners prioritized quality, then speed, and finally cost. Conversely, contractors focused on cost, speed, and lastly quality .
This early observation shows that the tension between these variables was known long before the catchy phrase was coined. It reflects an ongoing struggle to meet all three demands equally.
The Ambitious 1970s
By the 1970s, some entrepreneurs still believed they could achieve the impossible. In 1977, a Massachusetts newspaper featured restaurateurs planning to deliver all three qualities in their new establishment. Maurice LaFlamme, co-owner of Taco Villa, aimed to offer food that was “fast, good, and cheap,” challenging traditional wisdom.
Popularization in the 1980s
The maxim gained significant traction in the 1980s. “The Official Explanations,” published in 1980, attributed the concept to James M. Wallace. This is one of the earliest known attributions, though the true origin remains debatable. In December 1980, Erwin Frand observed a sign with the saying in a graphics design office, underscoring its applicability across industries.
By 1981, the phrase appeared in advertising. Celery City Printing Co., Inc. used it in a commercial, demonstrating its transition from an insider’s observation to a marketing tool. Researcher Barry Popik found further examples in the early 1980s, highlighting its role in managing customer expectations in the printing industry.
Cultural Influence and Adaptation
In 1982, actor Burt Reynolds referenced the saying while discussing his filmmaking career. He humorously noted, “We make ’em cheap and fast. Not good, just cheap and fast,” revealing an awareness of these trade-offs. In 1983, Professor William A. Ruch mentioned the saying at a White House Conference On Productivity, challenging its inherent limitations by suggesting that with innovation, achieving all three might be possible.
The phrase’s versatility allowed it to spread across various fields. In 1984, it was applied to software development, emphasizing the need for balance in programming. By 1987, the principle was articulated clearly in the arts industry, illustrating its broad application.
Travel writer Rick Steves adapted the concept to travel in his 1988 book, “Europe Through the Back Door,” applying it to the balance between luggage weight, happiness, and cost.
Continued Recognition
By the 1990s, the saying had become common wisdom. A columnist in the “Arizona Daily Sun” referenced it as a profound business philosophy, reinforcing its status in the business world.
Tracing the Origin
Despite its widespread use, the saying’s true origin remains elusive. The 1980 attribution to James M. Wallace is one of the earliest, but its precise beginnings are unclear. It likely emerged organically within business communities, particularly in industries like printing and design, where the trade-offs were most apparent.
Future discoveries may uncover earlier instances or provide clarity on its origin. What’s clear is that the saying encapsulates a universal business truth, challenging professionals to navigate the delicate balance of quality, speed, and cost.
In conclusion, the principle of “Good, Fast, Cheap — Pick Any Two” continues to serve as a guiding framework for businesses worldwide. It reminds us of the inevitable compromises necessary in delivering products and services, urging thoughtful prioritization in decision-making.