Innovation Snack 6 – Evaluate Yourself Just Like a VC Would

It’s not a seven course meal.
It’s just a snack.
You can consume it in a minute or so.
But, it brings the flavor!

If you were investing in a startup, the odds are that you would expect that startup to meet some pretty strong criteria. Apply those criteria to your own product portfolio.

Would you invest in a company that …

  1. Doesn’t have a product in the market?
  2. Doesn’t have sales (actually, fast-growing sales)?
  3. Doesn’t have a rockstar team?
  4. Doesn’t have a solid pipeline to receive customer feedback?
  5. Doesn’t have a large easily-identifiable market?

Of course not.

The metrics are clear. Your job is to move each project in your innovation portfolio toward them. And kill the ones that just don’t make it. Achieving a superior innovation return doesn’t end when your innovation concept was born – it depends how well you can bring it to life.

For a thorough guide to innovation techniques that will help you conceive and invent products that customers love, buy Steve’s e-book Made From Scratch.

Published by Steve

I write and train about innovation, empowering entrepreneurs to build a better tomorrow.

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