Tweaking the Opportunity Score Formula for Value Creation
I have shared about Opportunity Score before here:
In the post, I had mentioned about the formula that I have been using most regularly for prioritizing jobs, which looks like this:
Needs are often prioritized according to the opportunity score:
I have seen several product teams use this formula to prioritize their needs:
Here's someone I came across last week, who used the same formula for her UX redesign:
However, lately, I have been greatly influenced by Madhavan Ramanujam's plea on considering willingness to pay (WTP) as a dimension to the score. He has explained exhaustively in his book, Monetizing Innovation on how critical willingness to pay test is crucial for knowing if a offering/product/functionality/feature will eventually be adopted, purchased by the target market.
Hence, I am tempted to add a 0-5 Likert scale on WTP and add it to the existing formula:
Please let me know your thoughts? Do you see a flaw in my logic ? Would love to get some feedback.