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.
Every time I read a management or self-help book, I find myself saying, “That’s fine, but that wasn’t really the hard thing about the situation.” The hard thing isn’t setting a big, hairy, audacious goal. The hard thing is laying people off when you miss the big goal. The hard thing isn’t hiring great people. The hard thing is when those “great people” develop a sense of entitlement and start demanding unreasonable things. The hard thing isn’t setting up an organizational chart. The hard thing is getting people to communicate within the organization that you just designed. The hard thing isn’t dreaming big. The hard thing is waking up in the middle of the night in a cold sweat when the dream turns into a nightmare.
The last 10% is 90% of the work.