This is my perspective on common pitfalls of companies and projects. I'm drawing on about 9-10 years of professional industrial design experience, and I hope that you can learn from my past successes and mistakes.

Here are the timestamps:
0:00 Intro
0:42 Address a problem and solve it
1:48 Understand your user and use case
2:14 Be specific
2:50 Establish a clear vision
3:18 Everything should be in service of the vision
4:18 Craft the vision as a team
4:30 Never design by committee
5:02 Keep the design goal simple
7:29 Communicate
8:52 Consult with experts
10:03 Waiting too long to launch
10:38 Launch early
11:53 Always question your assumptions
12:51 It's okay to course correct
13:25 Summary

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John Mauriello has been working professionally as an industrial designer since 2010. He is an Adjunct Professor of industrial design at California College of the Arts.

As always, this video is merely my opinion.