Monday, December 22, 2008

Questions to ask for your great new business idea

So, you have a great new idea for a product or service or business. Now, you need to ask the following questions which were developed by former DARPA Director George H. Heilmeier:

  1. What are you trying to do?
  2. How is it done today?
  3. What is new in your approach?
  4. If you are successful, what difference will it make?
  5. What are the risks and payoffs?
  6. How much will it cost? How long will it take?
  7. What are the midterm and final "exams" to check for success?

I especially like the part about asking "what difference will it make?" So often, we have new and great and exciting ideas, but will they really make that big a difference?

-- Jack Krupansky


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