As business people, we are extremely creative, with many ideas. However, not all of them can be profitable and successful. We need to make sure we are fully prepared before beginning large projects. How can we ensure that this idea is worth the investment of time and money?
In this book, Nick Temple enumerates the five important things we need to check after validation but before committing to new product development. First, we need a sanity check: Is the idea something whose time is right? Is it aligned with our current projects and further, our overall goals? The second is the resource check: Do we have the resources available: the time, people, money, and technology needed for this project? The third is the technology check: Are we using the right technologies and architecture for the scale we have in mind? The fourth is the marketplace check: For your solution to be successful, people need to buy it. What problem does this solve for your customer, and are they ready to adopt? The fifth and last is the partner check: Is your technology partner someone you trust? Do they have passion for helping other people? It’s important to have a partner you can communicate with effectively so your goals are aligned.