Great opportunities have these key characteristics ...
- Timely
- Solvable, doable
- Important
- Potentially profitable
- Favorable regulatory and industry context
- Able to position venture favorably relative to the competition
Try scoring a new idea or opportunity ...
A] Is the concept technically feasible? Could it be produced? Score: 0 (no) to 9 (absolutely)
B] Is the concept venture viable? Is it economically sustainable? Score: 0 (no) to 9 (absolutely)
C] Is the concept resource reasonable? Could start-up funding be readily obtained? Score 0 (no) to 9 (absolutley)
If the overall score of the concept is greater than 555, probably worth looking deeper.
If any of the individual numbers are less than 5, proceed with caution!