checklist-for-new-products.scroll

date 2009-12-28
tags All Startups
title Checklist for New Products

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At our startup, we've practiced a diversification strategy.
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 http://bigorangehousestudios.com/ our startup
 https://breckyunits.com/diversification-in-startups.html diversification strategy

We've basically run an idea lab, where we've built around 7 different products. Now we're getting ready to double down on one of these ideas.

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The question is, which one?

Here's a 10 question form that you can fill out for each of your products.

# Product Checklist

1. How many users/customers does the product have? <input value="#" size="6">
2. What percentage of these users/customers would be disappointed if this product disappeared tomorrow? <input value="%" size="6">
3. Explain the product in one sentence: <input size="40">
4. Is the product good/honest? <input type="checkbox"> Yes
5. What is the predicted customer acquisition cost? $<input size="6">
6. What is the predicted average lifetime value per customer? $<input size="6">
7. Which of the 7 deadly sins does the product appeal to? <input type="checkbox"> Lust <input type="checkbox"> Greed <input type="checkbox"> Sloth <input type="checkbox"> Gluttony <input type="checkbox"> Pride <input type="checkbox"> Envy <input type="checkbox"> Wrath
 // yikes? why do we have this in here? there's gotta be a different way to phrase this. this seems misguided.
8. What's the go to market strategy in one sentence? <input size="40">
9. What resources do you need to do this? <input size="40">
10. What's the total addressable market size? <input size="6"> people $<input size="6">

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