I just watched a movie, which clearly had a huge budget. The cast: star-studded. I’m talking many award actors. Huge film companies backing. And, it was a colossal fail.
Before watching it, I wondered why I hadn’t heard anyone talk about the movie. Having the size budget (huge) they had didn’t make them immune to creating a glossy dud.
Even the most successful (however you define success) can have paper perfect initiatives duds. Some of the most successful have had expensive failures.
Though they give you access to resources, big budgets are only part of the mix. They aren’t a guarantee for success.
Let me be upfront: given the choice I’d rather have excess than scarcity. The more you have the more you can do. Simple. However for the excess to mean something, for value to be extracted or derived from the excess other things are needed.
Ideas are a currency for innovation but it takes more than ideas to see success. Again, big budget plus (even great) ideas doesn’t necessarily result in success. It is never just the budget. The ability to manage great resources is key.
Success is often a result of understanding what you have and making it relevant to a felt or created need.
Thus, there’s need for attention to the internal environment of your enterprise. Are you clear on what you want to achieve. Do you have the capacity? Is there any relevance (market) for the solutions (product) you want to deliver?
Does your delivery or process of meeting the created, felt or perceived need help or hinder? I could go on about a million other things you might need to have in place in your internal environment…
One of the other ‘success determinants’ is the external environment. This includes those who enable your mission as well as the ones you want to serve. There are such things as prevailing market conditions and stuff.
The point of all this is not to get stuck in believing that a huge budget fixes everything. Get a big budget, scarcity is limited and limiting. Just don’t be naive, about a ton of cash being the only guarantee of success. It is a critical one but not the only important thing in the mix.
Having abundant resources doesn’t protect you from failure or duds [Click to Tweet]