We’re looking for the biggest idea with the best-defined roadmap to success.
Ideas at every stage and of every kind can have big potential. Here are a few things to consider:
1. Understanding the Problem
Clear and comprehensive description of the problem. How well is the opportunity described. Which is the target group? Is it sizable enough to sustain a profitable business?
2. The Business Proposition
Articulation of the business proposition. How does your idea solve the problem or need? What is the mission of your business? What are your 3-5 year objectives? Are you able to describe your idea in 30 seconds?
3. Innovation and Creativity
How creatively does the business proposition solve the stated problem/need? What is the closest solution in the market and how do you differentiate from them? What is your Unique Selling Proposition (USP)?
4. Supporting Evidence
How well is the idea supported with background evidence? Has the team conducted market or consumer research? Is there any hard data on the size of the market and expected market share? Are there prototypes/blueprints of the proposed product/service?
5. Implementation Plan
How does the implementation plan transform the vision into reality? Is every step of the implementation process justified and points towards the right direction?
Note: Ask friends and family to join Ideator, go to your idea, and “Like” it. The more “Likes” you get, the better chance you have of being selected as a Finalist.
Have an idea? Submit to: The Startup Magazine and RéanArt Creative Studio – Photoshoot Competition. Good luck!