Evaluating a new product idea? Read this

Table of Contents Hide TractabilityObviousnessDeepnessWidenessDiscoverabilityMonetizabilityPersonally Compelling Source: WikipediaEvan Williams, founder of Twitter has an interesting take on the parameters one should keep in mind while evaluating a new product idea.Here…

Source: WikipediaEvan Williams, founder of Twitter has an interesting take on the parameters one should keep in mind while evaluating a new product idea.Here are key parameters that Evan draws:

Tractability

How difficult will it be to launch a worthwhile version 1.0? More than the technical feasibility, what about timing ? competition? How advanced are the other solutions?

Obviousness

Why should consumers use your product? Is the benefit obvious to the user?

Deepness

What is the value you are delivering to your customer?

The most successful products give benefits quickly (both in the life of a product and a user’s relationship with it), but also lend themselves to continual development of and discovery of additional layers of benefit later on.

Wideness

How many people may ultimately use it? Do you try to offer the mass-market good or the niche one?

Discoverability

How will people learn about your product? WoM? Blog/Press entries? Ads?

Monetizability

How hard will it be to extract the money?

Personally Compelling

Do you really want it to exist in the world?

Great products almost always come from someone scratching their own itch. Create something you want to exist in the world.

What’s your take? What would you like to add?

[Evan’s post here]

Download NBW: Short news app created for busy professionals like you

Get NBW App - a reimagined fluid short news experience that delivers you clarity and all the important news and trends from your industry. No signup needed !

Download NBW App (Android, iOS)

Sign Up for NextBigWhat Newsletter

Daily.