Fashion or anything else this list is the best rundown of your idea evaluation:
Urgency How badly do people need this?
Size How many people would purchase this?
Pricing Potential What is the highest price people would be willing to pay.
Acquisition How easy is it to acquire new customers?
Cost Costs of product and service.
Delivery Cost How much does it cost to deliver the offer.
Uniqueness How unique is your offer versus the competition.
Speed How quickly does it take you to get this running.
Investment How much do you have to invest before you have an offer.
Up Sell What related offers could you present?
Evergreen Potential The more evergreen the more attractive the market.
But the best is this: Apply a value to each point from 1-10. Keep it conservative! Keep these rosy glasses of your face. The add it all up. Below 50, don’t do it. 75-80 excellent. Start action tomorrow!
Thanks to Josh Kaufman, “The Personal MBA.”