The #Startup Checklist
Updated: May 13
A "good idea checklist" is a widely used tool to help assess the merits of a new business idea. Good ideas usually meet most of these criteria. Once you have your idea, be sure to keep it safe.
THE GOOD IDEAS CHECKLIST FOR STARTUPS
FILLS A GAP IN THE MARKET
The idea fills an untapped market by offering a product or service that is not currently available.
The idea should solve a problem or meet a need in a way that is better than the available alternatives.
CHALLENGES EXISTING ALTERNATIVES
The idea offers a new, better way of doing things, and challenges existing approaches.
The new product or service will stand out from existing ones by being clearly better or different in some way.
MEETS CUSTOMER EXPECTATIONS
The product or service offered will be provided at a level of quality expected by the customer.
OFFERS GOOD VALUE
The product or service will benefit the customer in some way, and create a sense of money well spent.
HAS A PURPOSE
The idea will give customers a sense of pleasure or of having helped an important cause.
HARNESSES YOUR STRENGTHS
The idea builds on your skills, experience, market knowledge, and /or contacts in an industry.
IS IN A GROWING MARKET
The idea serves an expanding market, with sufficient potential demand for a sustained period.
CAN BE SCALED UP
The product or service can be delivered at an increasing scale without costs growing at the same rate.
Always think outside the box and embrace opportunities that appear - Lakshimi Mittal