Regardless of your company’s size, Business Strategy is as important as product development.
Corporate Strategy: Why this product? Why now? What are the goals for this product in the next 12/24/36 months? What is the corporate roadmap that is driving this project?
Innovation & Scouting: Is your team up-to-date on the latest product offerings and technology developments that could impact your plans? Do you have an outward-facing group responsible for identifying key technologies and trends?
Intellectual Property: What is your Intellectual Property (IP) strategy? Has an IP attorney reviewed your trademarks and patent applications? Are you accidentally infringing on someone else’s intellectual property?
Competitive Intelligence: What are your competitors up to? Have you identified the mostly likely/strongest threats? Are you competing against existing products, or existing behaviors?