Checklist for New Products

December 28, 2009 — At our startup, we've practiced a 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.

The question is, which one?

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

• 1. How many users/customers does the product have?
• 2. What percentage of these users/customers would be disappointed if this product disappeared tomorrow?
• 3. Explain the product in one sentence:
• 4. Is the product good/honest? Yes
• 5. What is the predicted customer acquisition cost? $
• 6. What is the predicted average lifetime value per customer? $
• 7. Which of the 7 deadly sins does the product appeal to? Lust Greed Sloth Gluttony Pride Envy Wrath
• 8. What's the go to market strategy in one sentence?
• 9. What resources do you need to do this?
• 10. What's the total addressable market size? people $