There's an old saying that "where there is no vision, the people will perish." I believe this equally applies to our product offerings, "where there is no vision, the product will perish."
Each of our products need to be treated like little businesses within our overall business. We must consider a variety of factors, just like we would in our strategic planning for our companies. Do we have a vision and mission plan? Do we have the core competency to support our product intellectually, culturally, technologically and economically? Are we properly positioning the product for the best competitive advantage? Can we sustain the time and courage it will take to get the new product profitable? Do we have any plan at all?
Each of our products need to be treated like little businesses within our overall business.
I see a lot of companies, both in Reprographics and beyond, launch new products with blind eyes. Without a vision, your own employees will fail to grasp the importance or urgency of the new product. It will get lost among the rest of your offerings.
Often, years later, we sit around wondering why the product failed? Only with vision throughout the product life will we realize success. You just have to visualize it before you see it become reality.