The Price, Speed, Quality Triangle and Telling Your Brand’s Story
On today’s show we talk about the Price, Speed, Quality Triangle: what is it and how to use it.
We also look at ways you can tell your company’s unique brand story. To wrap things up, Glenn quizzes Jodie on notable brand flops.
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Let’s discuss the Iron Triangle – or what some call the project management triangle - as it applies to your business.
The Iron Triangle
In the iron triangle theory the contention is that you can only optimize two of three price/speed/quality attributes. Is this true? Because some people will tell you they can do all three.
It’s very easy to make that claim to a customer or prospect.
But can you do it?
I think it would be very, very hard.
You like to think you're doing all of them. And that doesn't mean that you do two, and then the other one is completely out the window.
Maybe you're not the fastest, but you still get things done on time.
You might not be the cheapest, but your work is still high quality.
As a business owner, you need to know what resonates with what you provide—the strongest parts of your triangle.
Now that we’ve talked about HOW you run your business.
Let’s talk about how you market it. More specifically, in how you tell your brand story.
Your Brand’s Story
I was thinking the other day about a client that we worked with.
And the first thing that they asked when we first met was, “Do I have a brand?” That is such a nebulous concept for a lot of business people; the answer is yes, you do. Whether you define it or the market defines it, you do have a brand. It’s better if you define it.
If you want a better connection with your customer, tell them what your brand is so that it does penetrate any preconceived notion.
Make the things that stand out about your business your story. Your brand will come from that story.
We’ve got lots more insight about all kinds of couplepreneur stuff on our blog, so check it out!
