Evan Williams has written my favourite post of 2007. Every entrepreneur should have a quick read about how to evaluate their product ideas. The discussion that I often have with folks about product ideas is “find a problem that solves a problem that a lot of people assign value to a solution”. This is a really superficial description and Ev provides a really great breakdown for evaluating new product ideas.
- Tractability – How difficult will it be to launch a worthwhile version 1.0?
- Obviousness – Is it clear why people should use it?
- Deepness- How much value can you ultimately deliver?
- Wideness – How many people may ultimately use it?
- Discoverability – How will people learn about your product?
- Monetizability – How hard will it be to extract the money?
- Personally Compelling – Do you really want it to exist in the world?