Step 3

Perform Product Opportunity Assessments

Now that you have your 3 ideas, you need to assess the potential opportunity of each idea to figure out which is the best one to pursue.

 

To do this assessment, answer the following questions about each idea.

ASSESSMENT

Question

What the answer represents

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Exactly what problem will this solve?

Value proposition

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Why are you best suited to pursue this?

Your differentiator

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What alternatives are out there?

Competitive landscape

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How big is the opportunity?

Market size

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For whom do you solve that problem?

Target market

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Why now?

Market window

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How will you get this product to market?

Go-to-market strategy

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How will you measure success?

Metrics/KPIs

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Given the above, what’s the recommendation?

Potential go or no-go

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What factors are critical to success?

Solution requirements

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How will you make money from this product?

Revenue strategy or model

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Click next once you are done with all 3…