“Capital isn't scarce,” Walton once said. “Vision is.”
What Walton is talking about here, isn't necessarily referring to the underlying vision of the company or purpose of the company; any great company will have that.
When he refers to scarcity of vision, he's talking about the vision within the vision. Another way of putting it would be the vision of how to execute the foundational vision of the company.
This is where you get into innovation, motivation, practical vision, practical steps, among many other things like that. It's there that Walton identifies the scarcity within business; and he was right.
Having said that, we need to understand the limitations that capital offers if we don't have the types of vision Walton was talking about. It's one of the reasons the dotcom bomb happened. Money by itself doesn't make success inevitable in any company. Many companies go through tons of it; many times just letting it sift through their fingers with nothing of long-term value added.
Even in this moment of time there is more capital around then there is the vision to put it to productive use. A lot of it is sitting on the sidelines waiting for "vision" to catch up with its availability.
What Walton and I am trying to convey is capital can never be the deciding factor in long-term success of any company. It's those that know how to take a scarce resource called "vison," and turn it into a powerful strategy of execution that will be the winners over the long haul.
All the great companies operate in this way. Our purpose is to open ourselves up to the possibilities that exist within the ourselves and our people. It is there that we can mine the great vision that can produce the types of results everyone dreams of.
Don't get sucked into thinking that capital by itself can bring success - it doesn't.
Other Walton Sources:
The Most Underrated CEO Ever The legendary Sam Walton
Sam Walton: The Power of Persistence
Sam Walton Business Quotes for Ya
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“Capital isn't scarce,” Walton once said. “Vision is.” [Read More]
Tracked on: June 17, 2007 4:31 PM | Permalink to Trackback