• Consider brainstorming the best possible applications of your technology.
• Try evaluating the best possible "outside the box" • Create the product roadmap document. This typically features a graphic representation of the time frame, as well as relevant explanation.
• For each market, ensure that you define the product which you would build for the target market.
• Size the market conservatively; consider using analyst estimates and feasible assumptions about your penetration.
• Ensure that you estimate the cost of developing and selling the product, and do not forget to calculate a rough ROI.
• Make sure you take into consideration your team’s experience, and the learning curve.
• Understand the competition, and what your technical edge is.
• Find the areas where you can make use of the experience gained in one product in order to develop your other products more quickly and successfully.
• Your roadmap should speak about itself as well as about your product and how your product is different from your competitors.
• Arrange the markets on these factors, and decide on one or two products that you would initially like to develop • Also analyse several other markets that make sense to pursue in the future, or if the first ones don’t pan out.
• Finalize the roadmap and distribute it to all stakeholders.