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:
- What are you trying to do?
- How is it done today?
- What is new in your approach?
- If you are successful, what difference will it make?
- What are the risks and payoffs?
- How much will it cost? How long will it take?
- 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?