Testing an idea

When I’ve described Silicon Valley has having some qualities in common with a big casino, one thing that is different is that everyone is constantly calculating the risk level of any effort, they are not just dropping coins into a slot machine hoping to win.

There are a dozen ways to measure the risk but here is a quick list of six.

What is the technical feasibility, the business viability, the usability, and the desirability of the product or service?

There is always the question of, does it (product/service) address a major pain point? Pain points are often discussed in the business school, a short hand way of looking at how a product might solve someone’s problems. Interestingly, there is a debate on the need to address pain points. I listened to one entrepreneur who argued, with some success in a class filled with skeptical students, that some of the most interesting digital products don’t address pain points but are so intriguing and engaging that they become wanted without ever being needed.

I like to attribute any ideas like the above list of six but my notes don’t offer that information. If anyone can help me track down the source, know that I appreciate