What can go wrong.
WHAT THE PRINCIPAL RISKS ARE
Building something nobody wants Spending more than planned Taking longer than planned Being unable to deliver at the cost assumed Damaging the existing business Regulatory or safety problems Being copied
WHAT REDUCES THE FIRST
Testing demand before building.
WHAT REDUCES OVERSPEND
Staged commitment with decision points.
WHY STAGED
It limits exposure to what has been justified.
WHAT TO ESTABLISH
A budget, and what happens when it is reached.
WHAT TO ASSESS BEFORE LAUNCHING ANYTHING
Whether it is safe Whether it complies with applicable requirements Whether claims made about it are accurate What liability it could create
WHY SAFETY AND COMPLIANCE EARLY
Discovering a regulatory obstacle after development is expensive and sometimes fatal.
WHAT TO ESTABLISH
What approvals or standards apply.
WHY BEFORE DESIGN
They frequently determine design.
WHAT TO CONSIDER ABOUT LIABILITY
What harm the product could cause Whether insurance covers it What your terms say
WHAT TO PROTECT
The existing business from the new one.
HOW
Separate accounting Limits on resources committed Awareness of reputational connection
WHY REPUTATIONAL CONNECTION
A failed new product affects confidence in everything you sell.
WHAT TO ESTABLISH
Whether to launch under the existing brand.
WHAT TO DO ABOUT BEING COPIED
Accept that success attracts imitation.
WHAT ACTUALLY PROTECTS
Speed, relationships, execution and continued improvement.
WHY NOT SECRECY ALONE
Most products can be examined and reproduced.
