Maybe you don't have to need a reasonable time frame.
Venture capital structured startups, or government run initiatives don't need any time frame.
That's because those involved retain complete control over their invested capital.
But I would suggest most investors in an ASX listed company do need "a reasonable time frame" for a return on their investment because if a return on their capital isn't achieved ( and without any control over those making the decisions) what other actions (other than getting out) do they have?
And 10 years for a small company listed on the ASX and 3 years for a ?new? management team IMO is "a reasonable time frame".
IMO
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