1. Lust: Innovating in a space you have no business being in.
2. Gluttony: Trying to create too many initiatives with too few resources.
3. Greed: Taking short-term profits at the expense of long-term growth.
4. Sloth: Taking short cuts—not doing the hard work, not following the proven process.
5. Wrath: Being so focused on your competition that you miss the same opportunities your rivals are missing.
6. Envy: In the context of innovation, envy means launching a “me too” product instead of finding a space you can own.
7. Pride: You won’t give up on your favorite idea—even when the numbers prove you’re wrong.
From a Business Week article on the sins of innovation and how you can stop yourself from committing them. See the full article for complete description and most importantly, how to stop yourself from committing them.