We look at product development as a five step path:

1) Know thy customer. This includes creating personas, getting outside and asking direct questions, polling and focus group testing. Data is power.

2) Identifying the white space and understanding what it is going to take to knock someone off shelf space (so to speak).

3) Having clear goals, like owning a category with good, better, best options.

4) Understanding the numbers. Just because you can manufacture or import something doesn’t mean you should, especially if it isn’t going to be profitable. ROI is king.

5) Don't be afraid to pivot. Durable business models are flexible business models, ones that can acknowledge what is working and what isn’t, adapt to feedback, and change direction when necessary. If its a dog, its a dog, even if you change its color.