What questions should you ask when assessing innovation opportunities?

1 What is the problem or need?

The first question to ask is what problem or need are you trying to solve or address with your innovation. This will help you define the scope, relevance, and urgency of your opportunity. You should also identify who are the target customers or beneficiaries of your solution, what are their pain points, and how are they currently coping with the problem or need. You can use tools such as problem statements, customer segments, and empathy maps to articulate the problem or need clearly and empathetically.

2 What is the value proposition?

The next question to ask is what value proposition are you offering to your target customers or beneficiaries with your innovation. This will help you communicate the benefits, features, and differentiation of your solution. You should also consider how your value proposition aligns with your vision, mission, and goals, and how it fits into the market or context where you operate. You can use tools such as value proposition canvas, lean canvas, and business model canvas to define and test your value proposition.

3 What is the feasibility?

The third question to ask is what feasibility are you able to achieve with your innovation. This will help you assess the technical, operational, and financial aspects of your solution. You should also consider what resources, capabilities, and partnerships you need to develop and deliver your solution, and what constraints, challenges, and risks you might face. You can use tools such as feasibility analysis, SWOT analysis, and risk matrix to evaluate and mitigate the feasibility of your solution.

4 What is the desirability?

The fourth question to ask is what desirability are you able to create with your innovation. This will help you measure the customer or beneficiary satisfaction, loyalty, and advocacy of your solution. You should also consider how your solution meets or exceeds the expectations, preferences, and emotions of your target customers or beneficiaries, and how it creates a positive user experience. You can use tools such as customer feedback, surveys, and net promoter score to gauge and improve the desirability of your solution.

6 What is the scalability?

The sixth question to ask is what scalability are you able to achieve with your innovation. This will help you plan the growth, expansion, or replication of your solution. You should also consider how your solution can reach more customers or beneficiaries, enter new markets or segments, or adapt to different contexts or situations, and what resources, capabilities, or partnerships you need to scale your solution. You can use tools such as market analysis, growth strategies, and scaling models to explore and pursue the scalability of your solution.