Good. Fast. Cheap. (Pick two)

At some point we all have to pick two. Because all three is not an option.

What always concerns me is the fast and cheap scenario. I'm a writer, so being cheap always came naturally (some writers are wealthy ... but that's the same as saying some high school football players make it to the Super Bowl). 

Being cheap can happen out of necessity. Being fast? Turning around a product faster than anyone else? That was an early lesson for me.

Most of my managers have been men. Older men. When I was just out of college I remember working for these guys (most were in their 60s) and how they smiled at my youthful energy. They often took the time to teach me lessons that took them years to learn. This was one of my favorites:

• Don't rush your work. No one gets paid extra for turning in things early. (Unless you've negotiated that in the contract.)

There are exceptions. Sometimes a client will request rushed work. For that they pay extra and they also agree to the situation being rushed. That makes them a partner in the situation. They acknowledge that things are unusual and the quality of the work may not be what it might be in usual circumstances.

I kept turning in work early ... these old guys got suspicious. These old guys knew that rushed work was a liability that would cause more headaches down the road. They would tell me to go back and check my work. They would insist that I was cutting corners in some way to finish so quickly and that I needed to start from scratch on my project to make sure it was done right.

Finish early every now and then?

No problem. They would reward you with some time off.

Finish early every time?

Big. Red. Flag.

Real estate brokers don't get paid extra when the transaction closes early. But they will get sued if the contract was rushed and something was left out.

Construction contractors don't get paid extra if the building is finished early. But they will get sued if something was not constructed properly.

Attorneys don't make more money when the case is closed out early. But they do risk litigation if something was not reported properly.

Turning things in early to impress people ... that only puts you at risk and shows you're not dedicated to quality work. Take the time to agree on a deadline that lets you do your best work. You can still be cheap, but being cheap and good will help you sleep at night. Cheap and fast will run you broke.