Iron Triangle Of Projects That Get A Yes From Me

If you’re in the world of consulting, you might be familiar with the iron triangle of services:

  1. Good
  2. Cheap
  3. Fast

You get to pick 2.

3 is impossible.

And I have my own take on this when I think about any opportunity that crosses my desk.

  1. Pay
  2. Passion
  3. Prestige

I have to have at least 2 of those elements for me to consider it, and preferably it has all three if I’m going to be over the moon excited about it.

Now, I mentioned this to a podcast guest I was recording with this morning, and he added a tweak to it: instead of pay, his mind instantly replaced that with “profit” which I like a lot better. Profitability means we can afford to keep doing this thing. That’s an important detail to remember! Because we can get paid for something and it still not be profitable. Good point.

How about you? Do you take these things into consideration? Do you focus on one more than the others? Do you say yes even if it’s only one and none of the others?

I’m curious to know what you think! Reply and let me know.

Best thoughts,

PS: If you’re wondering about the podcast, it’s coming along. I’ll be releasing it when I have a chunk of interviews to drop all at once. No due date yet, though.

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