New Aston Villa chairman Steve Hollis insists things need to be fixed if the club are to get out of their current crisis.
Villa are bottom in the Premier League standings on 12 points - winning just two of their 22 league fixtures so far.
The club spent over £50million in the off-season following the departures of Fabian Delph and Christian Benteke, bringing in the likes of Jordan Ayew, Rudy Gestede and Adama Traore among others.
When asked if the money spent had been wasted, Hollis told Sky Sports News: "I think the results are the best indicator on answering that question.
"You have got to look at the facts, this club spent £60m last summer. This club five out of the last 10 years has had the biggest contribution from the owner of all the top six clubs. That is a lot of money.
Hollis, who was appointed new Villa chairman on Thursday, knows the club have to be realistic about their situation.
"The cheque book has not been put away and if there is a player out there or a couple of players out there who we feel will fit in and really help the side in the Premier League or in the Championship, we are looking," he said.
"This is not about spending money. That is not the reason why the club is not doing well. Other things need to be fixed before we go out and spend big money."
He added: "The only thing we can focus on now is the best we can possibly do both in terms of the capital resources and human resources to put this club on the best footing possible.
"Just look at the Premier League, look at the clubs that are doing well at the moment. Most of them haven't spent big money. What they have done is invest in the infrastructure of the club and invested in that hard work culture, culture of continuous improvement and team spirit.
"That actually is more valuable than big money at the present time the way the Premier League is evolving."
