Setting your product, service, business, and yourself apart by high reliability
by Dr. Don Daake
PE- publication release
to be published Wednesday, December 28, 2022 in the Kankakee Daily Journal
Editor’s Note: This is the first part of a two-part article. In part one, Dr. Daake will discuss product and service reliability. In part 2 on January 11th, Don will then examine how personal reliability is critical to ourselves and others.
Reliability means consistent behavior and results you can count on time after time. Synonyms include dependability, consistency, durability, and trustworthiness.
During times of high inflation, as a customer, buyer, or employer getting the best value for our money is more critical than ever. Different people take various approaches to cope with inflation. A notable trend among lower and middle income consumers and those on fixed incomes is to trade down to get what we need. We simply have no choice. We must be able to buy groceries, gas, pay our utilities, purchase clothing, and necessary everyday items. During such times, many of us shop at discount stores like Walmart and various dollar stores. Getting something good enough is better than not getting it at all.
On the other hand, there is the old adage, “You get what you pay for.” It is a general guideline, but not always true. Wealthier families usually buy top brands and products that supposedly last forever. On the service side, they will go to the best professionals, regardless of cost.
Which approach is correct? It all depends on your situation, resources, and past experiences. I’ll admit I use both strategies. If I need a tool for a one-time use, a cheap “made in China” is just fine. I will spend more if I need a tool that must last for years. The Craftsman brand has sold billions of dollars of tools based on that promise.
Let me give you some examples of highly reliable products and services. About ten years ago, after going through multiple cheap printers, messy refill ink tubes, and paper jams, I decided to invest in a high-quality Hewlett Packer (HP) colored laser printer.
At the time, in local office supply and printing stores, colored copies were 40-50 cents a page. I paid almost $700 for the HP, which was a lot for a home office. However, I have printed at least 100,000 copies over the last ten years without significant problems. I used it for class printouts, professional presentations, our Christmas letters, and so forth. Today, store-printed color copies cost between 15-60 cents. Suppose over the years, the average costs had been 35 cents per color copy and for black and white about 10 cents. That would have totaled between $15,000-$35,000 to print my 100,000 copies, depending on the mix of B & W and color.
Of course, I supply my own paper and ink toner cartridges. There is a big catch, however. HP states that if you use other than the new original cartridges, you will void the warranty. At an average cost of $110 per cartridge (4 cartridges are needed), then it costs over $440 + paper costs to print the 2000 copies.
But over time, I have taken a chance on buying recycled-refilled cartridges. Usually, I pay about $80 for a set of all four. I can be both Green and save my green. The paper I use is “good enough” for the job. Here is a quick comparison. To print 2000 color pages: At an office supply store (assuming 35 cents a copy)–$700; with new cartridges at home-$520; with recycled cartridges, $120. The underlying quality and reliability of the HP LaserJet makes these considerable savings possible.
Another product where it pays to buy high-quality is vehicle tires. High-end tires for trucks or SUVs can travel 70,000 miles or more. High-quality tires can be a bargain, even at $150-200 per tire. We don’t often think about during 70,000 miles, the tires keep us safe, provide better control, and hold their value. They rotate a stunning 47 million times over roads with bumps, defects, gravel, and even an occasional pothole! (Don’t believe me? Do the math.)
Regarding services, high-quality, reliable education is critical to your future. Many low-quality “buy a degree” programs have emerged over the last few years. There are also many high-quality online degrees. But there is also a glut of programs (in-person and online) being taught by unqualified people who have low standards. These programs have low graduation rates and “easy” financing that has put hundreds of thousands of people into debt with little to show for it, more than a piece of paper.
On the other hand, many private institutions, public universities, and community colleges provide quality and reliable degrees at a reasonable cost. If tempted to go with an easy program, think twice.
I have never had to apologize for my MBA from the University of Iowa or my Ph.D. from Florida State. Unfortunately, those of us who paid the price of high academic rigor, sacrifice, and lots of hard work get exasperated with these “make-believe” degrees. In many cases, the mandatory work load is literally only 25% of the requirements compared to rigorous programs. And yet these degree holders walk around touting their MBAs or “Doctorates.”
As exasperating and frustrating as air travel can be, we demand absolute reliability. How many of us would get on an airplane if the airline company bragged that it was very reliable? What if they claimed that 999 out of a thousand planes that took off landed safely? By comparison when it comes to the probability that you’ll get a high-quality hamburger 9 out of 10 times, you might tolerate that.
But flying is different. As Zig Ziglar has joked, chances are if an airplane takes off, there is a good chance it is also coming down. Every year over 900,000 flights take off or land at O’Hare, and there has not been a significant accident since the American Airline flight 191 in May of 1979.
So we do have a choice on reliability. Reviews from magazines like Consumer Reports, recommendations for or against by friends, relatives, and our own past experience are good sources.
Whether buying or selling, reliability is a prime concern for businesses and consumers. Next time I will focus on the reliability of people.
Don Daake, BS, MBA, Ph.D., holds degrees from Kansas State University, the University of Iowa, and Florida State University. He is a Professor Emeritus at Olivet. He now lives in Cedar Rapids, Iowa. He can be contacted directly at ddaake@olivet.edu