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There are many important traps to avoid to building and selling successful technology based products. One trap to avoid is the misalignment of technology resources (product development generally) and the business strategy. A well versed CTO can work with the other C level officers to craft a business strategy that leverages technology and to make sure the technology supports a concise business strategy.
It begins with focus. You know your strategy can’t be based on being everything to everyone. So, at some point there is a clear raison-d’etre to your product – it provides some unique (hopefully) value. This value proposition needs to be the prioritizing force for the user of technology resources, especially as it relates to product development. We often see Internet Application products become manifestations of founders’ dreams rather than easily buyable (remember make it easy to buy, not easy to sell) and useful online tools.
Good executive leadership combined with experienced CTO are required to avoid this trap.