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Element 14. Commitment > Relevance—Why Add This Element?

Relevance—Why Add This Element?

In the context of a new venture launch, the commitment of knowledgeable, well-connected managers and board members is often sufficient to fulfill Goethe’s observation about its impact: There is truly “... genius, power and magic in it.” On the other end of the spectrum, if there is no commitment, the key players are typically unavailable for critical decision making and leadership. They also deceive themselves into believing that they are committing enough if their name is on the list and if they provide some occasional chatter, say, once per month. Their time is simply too precious for them to be bothered. This is particularly true of people who routinely find themselves in the company of public figures—they cannot bother themselves with mundane matters such as launching new businesses. If they are committed to the idea, you have a chance to succeed. If they are not committed, you are wasting everyone’s time. Personal commitment by the key players is therefore of considerable relevance as a predictor of success. It indicates that the team will be available for both the good times and the bad, something that investors, vendors, and charter customers will find consoling.


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