Your product’s development is of interest to investors for three reasons:
- the further along you are the less time they’ll have to wait before seeing some returns
- if your product is in an industry they’re familiar with, they may want to put their two cents worth in on how your product should be made
- your long-term plans for revision and future products reveal your planning horizon and level of commitment
Your intention here is to have development plans appropriate for the type of industry you’re in. Don’t skimp on development plans for fast-pace industries such as computers–you won’t be taken seriously.
Below are a few research and development questions:
- What is the current status of your product, and what needs to be done before it is market ready?
- What is the estimated amount of time to complete each phase or task? (State the time in man hours, days, or months, not elapsed time.)
- Will you need any special expertise to complete your product?
- Will you need any special engineering facilities or capital expenditures to complete your product?