There is never a shortage of hoping and wishing when you are building something new. As creatives we often wish we had more time, or more money, or hope that things will turn out well.
But, no matter how hard we get to hopping the realities of the world will often come knocking. Want to learn how to save yourself a TON of time and stress? of course you do!
Allow us to introduce you to the Good, Fast, Cheap (GFC) Venn Diagram.
This GFC toolkit can be such a powerful tool when you’re faced with hard decisions, and you need to prioritize like a pro.
Here’s the skinny. A product based business , and anything your creating really, can only be TWO of the THREE.
You can never have all three. And if you do manage it – it won’t be sustainable.
So if you are developing an apparel line, Good may reference the experience level of the factory you are working with.
Here are some scenarios:
Swimwear Line: You may be able to have 5 star quality fabric, at a very reasonable price, but you may have to wait for the fabric mill to get around to your project therefore leaving FAST on the table.
Another example; Consider you are building a skincare line. You may have a really great investment budget that you can afford and still have room for a narrow marketing budget (Cheap secured) and your vendor partners may be able to expedite your program because it’s their slow season (FAST), but upon review of your samples you find that the quality was truly lacking (thereby leaving GOOD in the dust).
The best way to master the GFC conundrum is to study this Venn. Your Welcome Kamala: