Assessing Your Idea
reviewer: v2.
team/venture under review:
This page is meant to provide guidance for using the Feasibility and Impact finders to critique and assess a new venture opportunity. The score you give is not a grade. Rather, for example, a score of 5/10 in a certain category means that the venture you are evaluating is stronger in that category than half the ventures you have seen before, but not as strong in that category as the other half. Think of your job as identifying the percentile into which a venture falls in the following categories.
When assessing impact
sample questions that represent the ideal situation
customer (C)
_ /10
Is it clear who is the customer (including users, buyers and others)? And that the customer is well understood? And that the correct customer has been chosen? Is evidence provided that the group of such customers is sufficient and growing in size? Can customers afford to buy the offering?
value proposition (VP)
_ /10
Are the scenarios clear for users, buyers, others, i.e. is it clear how the offering is used by the customer? Is the value proposition clear & compelling to customers (i.e. it addresses a significant need, want, and/or should do)? And to all other stakeholders?
substitutes & alternatives (SA)
_ /10
Are there few alternatives and/or substitutes for meeting the customer need, want, and/or should do? And/or is the value proposition clear over available substitutes, alternatives such that the benefits are clear to the customer and such that the buying decision is supported?
When assessing feasibility core competencies (CC)
distinctive? core? common?
offering (O)
_ /10
people on the team (P)
_ /10
Are the competencies distinctive - or are they core, or merely common? Distinctive competencies are the toughest to achieve. They are valuable + rare + costly to imitate + superior to those of competitors + visible to the customer. Core competencies are key to value creation too but do not meet all of the conditions of the more distinctive ones, e.g. may not be costly for others to imitate. Is the offering very clearly articulated? Is the prototype compelling, or in its absence, is the plan for developing a prototype reasonable? Is the difference clear between the technology (if any) and the product, service and/or experience being offered. Do core team members have relevant specific skills and relevant experience? Do they inspire your confidence? Is everyone on the team adding value? Do any additional contributors have incentive to join (vs. do it on their own)?
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