Timing of your application is an essential feature of the application process. If a patent is filed too early in the development process of the invention there is a risk that the product may not be fully developed or that the market is not calling for such an invention at that particular time. Similarly if the application is delayed for too long there is a risk that someone else may file a conflicting application which will have priority over your application.
Securing a patent is only the first step in maintaining a healthy patent portfolio. It is essential that the market is actively policed to ensure that your patent is not being infringed by your competitors. Similarly it is important to constantly consider means of exploiting your intellectual property most notably considering an assignment of the patent or more commonly a licence.