As CMOs, we often ask our staff and agencies “is it possible to..”

• Update that deck weekly
• Track performance of that number daily
• Have a quick weekly check-in to discuss another metric

The answer, of course, is yes. It just depends on what you want to trade for the quick meeting or that easily updated number. If what you’re giving up is of lower value, then you’ve made a good trade. Unfortunately, we often decide we want both. Instead of getting one thing done correctly, we now get two things done in a substandard fashion.

The solution is to always force a trade–what are you giving up for the thing you’re getting? Remember the old Milton Friedman saying: TANSTAAFL*. It pertains in economics and it pertains to CMOs too. Even if we don’t want it to.

*There ain’t no such thing as a free lunch.