The Speed-Cost-Quality Triangle
Why You Can’t Have Your Cake and Eat It Too (Video Production Edition)
Welcome to the world of video production! If you’re reading this, chances are you’re looking to get a video made. Perhaps it’s for your business, your YouTube channel, or just for fun. Whatever the case may be, there’s one thing you need to know: the speed-cost-quality triangle.
The speed-cost-quality triangle is a simple concept that applies to almost any creative project. It states that you can have two of the following three things: low cost, quick turnaround, and high quality. But you can’t have all three.
Low Cost + Quick Turnaround = Low Quality
If you’re looking for a video that’s cheap and fast, then you’re probably not going to get a high-quality product. Sure, you might be able to find someone on Fiverr who can whip up a video for you in a couple of hours for a few bucks but don’t expect it to be award-winning material.
High Quality + Quick Turnaround = High Cost
If you’re willing to pay top dollar for a high-quality video and you want it done fast, then you’re going to have to open up your wallet. Professional video production companies with skilled editors, motion graphics artists, and sound engineers don’t come cheap. And if you want them to work overnight to meet your deadline, be prepared to pay extra.
Low Cost + High Quality = Slow Turnaround
If you’re not in a hurry and you’re looking for a high-quality video on a budget, then you can certainly find someone who can do it for you. But be prepared to wait. Good work takes time, and if you’re not paying top dollar, then you’re not going to be a priority for the video production company.
But wait, you say. Can’t I just have all three? Can’t I get a high-quality video done quickly and on a budget? Well, you can certainly ask. But as the saying goes, you can’t have your cake and eat it too.
Requesting all three is actually a request for a donation
As much as we’d love to give you the perfect video at lightning speed and for a low cost, it’s just not realistic. The video production industry is a competitive one, and we production to be sustainable so that we do not go out of business. When you ask for all three, what you’re really asking for is a donation. And while we appreciate your business, we can’t survive by frequently donating all of our services.
The speed-cost-quality triangle is a simple concept that applies to almost any creative project, especially video production. As a potential client, it’s important to know what you want and what you’re willing to pay for. If you’re looking for a cheap and fast video, then you’re going to have to compromise on quality. If you want a high-quality video done quickly, then be prepared to pay top dollar. And if you’re on a budget but you still want a good video, then be patient and give the video production company the time they need to do their best work.
We hope this blog has been informative and maybe even a little humorous. And if you’re still not sure what you want, then give us a call. We’re happy to help you figure it out. Just don’t ask us for all three.