It is easy to fall in love with what appears to be a brilliant idea, only to have it collapse when exposed to closer scrutiny. This is a ‘brain-dump’ template designed to assist you in pushing your thinking beyond the boundary’s of your company and into the customers life.
What’s your idea?
- Write it down with as much broad detail as possible.
- Your thinking doesn’t have to be complete.
- Don’t start second guessing yourself, be brave.
What ‘problem’ does your business idea solve?
- Describe how this idea improves on what is currently available.
- Maybe it solves an unsolvable problem?
What will customers love about your idea?
- What is so compelling about this new idea?
- Why will customers like it better than the existing product/service?
Who or what will be your main competition?
- Who or what is the competition? Might be a company, lack of money, apathy or even ignorance?
Why is it better than what is being offered?
- Is it just a better product or service? A better way of doing things?
- Is it revolutionary? Why will your idea work?
Will the customer accept it or need to be re-educated?
- Is it an advancement on the current model and so easily understood?
- Or, will customers need to be totally re-educated on how to use it?
Who is going to buy it?
- Who is the target market? New or existing?
- Could you franchise it or sell it through agents?
What will it cost to build/manufacture/market?
- Can you work out a rough cost price?
- Can you fund it yourself or do you need to find partners?
What could you sell it for?
- Can you work out your profit margins?
- Does it have multiple revenue opportunities?