So where should you spend our time? There are three basic options when it comes to measuring for success.
- Spend your time making things as cheap as possible, and measure costs.
- Spend your time making things as fast as possible, and measure time.
- Spend your time making things as good as possible, and measure quality.
In my mind, “quality” is a lot more important than “fast” or “cheap,” but it can be difficult to measure. Measuring time or cost is easy, you simply count them. Measuring quality, on the other hand, is much more difficult because it cannot be counted, it must be judged.
If quality is important, and I hope it is, you need to be ready to make a judgement about whether the thing you do is great or not. And you do that by knowing what great looks like. So, make quality the driver by knowing what high quality, the best quality, looks like, and then measure against that standard.