Friday, March 11, 2011

Criteria for your idea

This is a great post on finding out if your idea will make it to the league of FB, Twitter etc.


Innovate on Purpose: Criteria for your idea

    • Does it solve a problem that is relevant and important to a customer? 
    • Does it cut costs, remove a significant barrier or create a significantly different capability? 
    • Will the idea be easy to adopt for the target customer, with low switching costs? 
    • Is the offer and benefit easy to understand, and easy to communicate? 
    • Is your idea protectable or defensible?  Is there any intellectual property? 
    • Do you have concepts beyond product innovation?  Can you extend your idea to service innovation, business model innovation or customer experience? 
    • Can you offer your idea at a price point where you make money? 
    • Can you scale your concept quickly? (Comment from me: Imagine the ecosystems that FB, Twitter and iPhone have created!)

    No comments: