Method for filtering bad ideas
I've sort of come up with a few ways to assess a potential idea, I'd appreciate feedback and any suggestions!
- Does it have a very well-defined audience?
- Ie. where do they hangout
- What is their budget
- What are their Jobs To Be Done
- What is in their narrative/zeitgeist ie? what messaging works with them
- etc.
- Does it solve a specific problem really well?
- Does somebody save time or money?
- Does it allow someone to do something to make their life better that they couldn’t have before?
- Is it something that they already try to do?
- Are there clearly successful solutions in the market?
- What is the market for this
- How large is it?
- Are there well-defined solutions
- Can it make money day-1?
- Is it sustainable or is it short-term but high reward?
- Does the unit economics work out? Ie. Is the margin for us over 50%
- What is the UVP?
- Is it a different UX from the competitor?
- Do we have a clear distribution path
- E.g. are the customers accessible?
- Can we make 10 sales tomorrow before building anything?
- Am it possible to validate without spending more than 2 days on building or design?
Thanks for this post :))
Filtering ideas is very important, I spend a lot of time working on something that ended up not being the right solution to the problem I was trying to solve. Xd
The most important for me I think is that we have to talk about the solution to our future customers before starting to really developing it.
Keeping things simple and seeing what other people do as you said! :))