When you have a project, pour in the necessary resources
Whether a small or an ambitious one, projects which do not have enough ressources allocated are bound to fail
Ten years after the first introduction the premium Lexus line on the US market, the Toyota-owned Japanese premium brand was leading the luxury market with greater sales than Cadillac, Lincoln, BMW and Mercedes-Benz.
The combination of brilliant marketing decisions and implementation had a lot to do with that success; but it is the daring boldness of Toyota’s top Management that had made everything else possible :
For its first Lexus, Toyota gave their 1,400 engineers and 2,300 technicians and blank check. To give some perspective, that was about over a half of number of people assigned to work on the first Boeing 777 jumbo line in the 1990’s.
The first Lexus took six years and one billion dollars to build.
Source : The secrets of Lexus’ success: how Toyota motor went- From zero to sixty in the luxury car market, Columbia Business School, 2005
Focus is saying no to 1,000 good ideas.
The last 10% is 90% of the work.
I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance. It is so hard. You put so much of your life into this thing. There are such rough moments in time that I think most people give up. I don't blame them. Its really tough and it consumes your life. If you've got a family and you're in the early days of a company, I can't imagine how one could do it. I'm sure its been done but its rough. Its pretty much an eighteen hour day job, seven days a week for awhile. Unless you have a lot of passion about this, you're not going to survive. You're going to give it up. So you've got to have an idea, or a problem or a wrong that you want to right that you're passionate about otherwise you're not going to have the perseverance to stick it through. I think that's half the battle right there.
[Many people] think it means accept failure with dignity and move on. The better, more subtle interpretation is that failure is a manifestation of learning and exploration. If you aren’t experiencing failure, then you are making a far worse mistake: You are being driven by the desire to avoid it. And, for leaders especially, this strategy — trying to avoid failure by out-thinking it — dooms you to fail.