Most of us must have encountered this question as an entrepreneur, or get this thrown at us from first-timers: Is my idea great? Should it be pursued given the amount of time and money it’s going to suck in? Is it worthy of leaving a job? Is this idea going to be bigger or the other one?

Here’s a simple Venn to serve as a comparative matrix:*6dDrmDD4jZjMOrJS

I won’t count presence or absence of competitors to be a black & white parameter as two factors should nullify each other. [Presence of competition is surely a market validation, but can be a red flag to available market size. Absence of competition surely sounds like somebody else tried but failed; but doesn’t automatically imply non-worthiness as you would anyways be the first one executing on it (more details here).]

Service v/s Product play is a definite factor and should more or less be captured within the Viable-Scalable combo. Same is the case with Vitamin-Painkiller framework.

Thing to note is that the more an idea falls within a section closer to center, the better is the idea to go ahead and pursue it. For Example, should you agree with me on whether:

Your thoughts? [Encourage me to write daily by a heads up!]

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