Several years ago, I had the opportunity to enjoy dinner with a Fortune 500 CFO. The dinner was for a group of up and coming leaders within the company and we were able to have one on one sessions with this distinguished executive. When it was my turn to converse with him, I of course asked him many questions about some of the fundamentals of leadership and about technology/innovation. He had some great insights into these topics but there was one question that he completely nailed. I asked him, “What are the keys to success for supporting functions of any organization”? His reply was, “There are many factors, but the 2 most important one are 1) Never be smarter than your customer and 2) Be the lowest cost, highest quality provider”.
Simple right? That response has stuck with me throughout my entire career and I recently heard a quote that makes it stick even more. “Customers do not want the trade-off. They want the And…”. As you may know, we like to relate collaborations and insights to imagery at re.engineer, and I found a perfect picture that represents the CFO’s response and the quote I heard.
As service providers, it’s very important that we understand the value triangle, Cost, Speed, and Quality, and we should also take into consideration that our customers do not want just two options, they want the And…