1. Customer Filter

Customer Considerations

Grade Yourself (1-6)

Clearly Identifiable Customer: Can you concisely describe your target customer? Can you create a simple persona to describe them?

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Meaningful Problem to Solve: Does your idea offer significant value to the concisely defined customer, that is not yet addressed or matched in the market?

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Segmentable Market: Is it possible to start small by cleanly segmenting your audience?

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Customer Accessibility: How easy is it to access and facilitate your customer?

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Customer Alignment: Is this idea something that you could establish a loyal and recurring customer base around?

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Your Overall Customer Score

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2. Product Filter

Product Considerations

Grade Yourself (1-6)

Tight Niche Focus: Can you concisely define the product with laser focus?

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No Network Effect: Will your competitors’ networks make it difficult to break into the market?

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Lean Method Viable: Is your product concept compatible with the lean startup approach?

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Team-to-Market Fit: How well suited is your team for this product opportunity?

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Inherent Story: Does your product have word-of-mouth or viral potential?

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Your Overall Product Score

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3. Economic Filter

Economic Considerations

Grade Yourself (1-6)

Healthy Margins: What sort of profit margins can you anticipate and will they justify the effort?

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Demand Constraints: What is the potential demand for this product concept among your identified target audience?

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Supply Constraints: What limitations may make it difficult to address the potential market?

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Sunk Costs: How much capital is required up-front for research and development, before you can anticipate revenue, and how does this compare with revenue potential and your own financial resources?

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Cash Flow Requirements: How much cash must you “float” between when you must pay your expenses and when you realize profits?

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Your Overall Economic Score

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4. Timing Filter

Timing Considerations

Grade Yourself (1-6)

Secular Trend Alignment: Is your idea related to a growth market? Is the general category emerging or in decline?

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Recent Innovation Enabler: Has some recent technology or regulatory change recently made it possible to do what you are now proposing?

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Market Inefficiency: Do you see inefficiency in the proposed market?

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Recent Competition Surge: Are a number of other companies also trying to insert themselves in the market?

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Recent Competition Surge: Have any brands in the proposed vertical become commonly known by your target demographic? Have there been recent acquisitions of smaller competitors, or large advertising battles for dominance between brands?

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Your Overall Timing Score

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5. Competition Filter

Competition Considerations

Grade Yourself (1-6)

Limited Competition: How much competition is there? Is it possible to find a differentiated position so that you’re not in direct competition with those already competing, or is the market saturated?

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Competitor Fitness: How competent are your competitors?

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Team Fitness: How fit is your team against those your plan to compete against?

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Defensible Position: Should you become a market leader, is it going to be possible to differentiate yourself or otherwise secure a competitive advantage to prevent others from taking your market from you?

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Barriers to Entry: Do any of your competitors already control a defensible position that would make it difficult for you to enter the market or gain market share?

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Your Overall Competition Score

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6. Overall

Considerations

Your Totals

Overall customer score

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Overall product score

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Your economic score

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Your timing score

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Your competition score

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Your Overall Score

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