Idea assessment worksheet

It's not all about how wonderful your new product or service is.

What matters is – will customers buy it?

This worksheet will help you to assess the practicality of turning your idea into a product or service which customers will buy. The questions below cover important topics you should think about. You will not know all the answers now but you should use these questions as a guide. When you have worked through them all, you should have a good understanding of:

  • your market
  • your competitive advantage
  • the laws, regulations and constraints relevant to your product or service
  • your business model
  • an intellectual property protection strategy
  • your marketing strategy
  • the business financial and investment requirements.

Assess your idea by typing your responses into this idea assessment chart.

Your idea and your target market

Your competitive advantage

Laws and regulations and constraints

Your business model

Your intellectual property protection strategy

Your marketing strategy

Your business financial and investment requirements

Also consider...