In the mid-90’s I had the pleasure of working for a genuine serial entrepreneur (defined as someone capable of having 10 number 1 priorities). He was charming, he was brilliant, and as the company got larger he was a disaster. Eventually the lack of focus caught up with us and the company cratered. It was only saved by a new infusion of capital, paring our development back to a single product line, and several years of patient turnaround work.
Setting priorities and focus for product development is one of the core questions all companies have to wrestle with. The answer determines how resources are focused. It also drives explicit and implicit organizational structure and power. It quite literally defines who you are as a business.
I’ve found that a simple framework with three options is the cleanest way to start this conversation. The three options are all valid, but they have very different strengths and weaknesses. Picking the right one for your company is critical.