Sep 27, 2022
Criteria for a Good Idea
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In ideating for a new product, there will be many ideas.
Up front consider all ideas and then qualify each one.
To judge the ideas consider the following:
Put yourself in the place of a customer and ask if you would buy that product.
Good ideas come from solving a customer's pain point.
Does it solve a real problem that customers will pay money for?
Consider what resources are needed to bring it to market.
Test out the business model behind the idea to see if it works.
It takes substantial time and work to bring an idea to fruition.
Are you interested in working on that idea for a substantial amount of time?
Does the idea excite you?
In fact, do you have a passion for the idea?
Do you believe it is not just a solution but it is "the" solution
Narrow the list down to three and test out those ideas.
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