Professional Engineer and founder of a small consulting firm, Cold Eyes, PLLC. My objective is to provide advice for engineering, operations, and high-level strategy based on my experience in manufacturing, international coordination, construction and commissioning, process modeling and optimization, and strategy planning.
The short answer (with respects to problems) is everything that comes along with capital. The good news is that there is significantly less red tape to cut through for innovation!
In my journey from working at a Fortune 100 firm to starting my own company, I had a "transition" working with a medium sized company.
As I moved from the large firm to the medium company, I noticed the number of resources drop off significantly and really gained an appreciation for how much information is free when you know how to look for it. In this setting, I found that I was actually able to be more innovative as I still had access to capital for innovation experiments and there were fewer barriers as far as corporate policies.
Moving from the medium company to my own startup, the resources obviously dropped off even further, this time with respect to capital. Of course, there is no problem as far as making the go/no-go decision on pursuing an innovative effort, but I also have to be clever with what type of front end studies are performed.
Innovation as a startup is essential and it's great fun when you figure out how cheaply evaluate efforts to determine if making a larger investment is viable. Feel free to reach out to me to discuss further!
The first question I would be asking is how this program lines up with the strategic vision of the company. Does this program line up with existing competitive advantages or would you be putting additional resources into building up new competitive advantages for the sake of the program?
You would want to take some time to consider the impact of the new program on existing products/services.
If the new program does not have the potential to cannibalize other aspects of the business, you would then look at if it is consistent with your company's brand.
Obviously, these areas are only starting points and understanding the detail of the existing business and potential new program would be necessary to discuss what is applicable to your specific scenario. Feel free to contact me to discuss further. During my time at a manufacturing services company, I introduced a consulting business line, allowing us to bring in revenue from clients who choose to work with a competitor for the manufacturing services project!