For any company, and mostly new one, it is easy to have good ideas and harder to execute them properly.
This can result in loss of time, money and also motivation from employees.
This usually come from poor project management, which should start as soon as an idea start to become a project.
All what I am going to say will sounds logical and very basic, but for some reason, that sort of process is easily forgotten or not taken seriously enough.
Project management helps for decision making, move faster, limit back and forth, and it will also bring some good spirit to everyone involved in it.
It helps to evaluate the idea/project. What will be the impact? Will it be for current or new customers? Does it open to a new market? What is the return on investment?
It is then important to define clear goals and requirements. A lot of projects can go down, because this is not set properly. The later it happen and the worst it is. What are the deliverables? What are the exact specs? A minimum and optimum should be set.
A next step is to define roles, responsibilities and timeline. Goals, deadline and being sure that the right person does the right job definitely speed up any projects. Otherwise things will take more time than expected, multiple people may be doing the same things etc.
It is usually better to start with a small, core team, made with the people who came up with the idea. Relatively soon after some experts should be added, as well as people who do not believe in the idea. If those people can be convinced, their doubt lifted, then you are into something.
Last but not least, people should be hold responsible for their work, Both for the worst and the best (which is sometime ignored).