How to evaluate an idea?

Question

a) Am i solving a problem people REALLY do have?

b) Does the problem, require an urgent solution?

c) Is the solution feasible?

d) Is the solution easily copyable for competition? if it is not that's great, otherwise...

e) Can I evolve the solution overtime? meaning even if the competition copies the idea, they don't know what the next step in the evolution of the solution is so I'm always one step ahead of the competition even if they copy my ideas?

Chetan Natesh · Accepted Answer

@lewis_ppp I agree with you, but this works when you're idea is not a disruptive one. A disruptive idea usually creates a new market ( what cars did to carriages for example), I would love to hear the ways you evaluate an idea.

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Lewis P · Answer

The best way to evaluate an idea is by looking at its potential. The potential of an idea is usually represented by its market.  Building a digital product takes a lot of effort and money. If you want to make a profit, you must be able to reach a sizeable market. There are three ways to evaluate a product:

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Chetan Natesh · Answer

Thanks for joining the discussion John! Yup, passion is the key.
passion goes best with what Patrick has mentioned above - evidence.

What is evidence for passion? it is the questions you have for the market that you just can't stop thinking of 🤔 when things are down and customers are few and far between, it's worth remembering these questions to put things back into perspective 🙌

Vickie Richard · Answer

Select the ideas to put through your matrix. 
Choose your idea screening criteria.
Rate your criteria.
Score each idea.

Chetan Natesh · Answer

@patrick_kessler With evidence - that's the key Patrick - totally agree 🙌

Chetan Natesh · Answer

@khaleed_khel true, very true, evaluating an idea must be given high priority.

Chetan Natesh · Answer

@vickie_richard Can ALL ideas be subject to this process?

How to evaluate an idea?

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