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The Party Pooper Business Checklist.

I have to confess something. My skills in marketing and programming have a dark side. Too many product ideas pop into my mind. Not that bad? Realize that with every product idea comes an avalanche of marketing strategies to help sell it. With every idea I get, I also get many marketing ideas that go with it. It was an issue because I used to want to do them all. I know...

To help combat such issue, I wrote this list. It aims to ground my feet anytime a great idea pops up.

  • Do I have time to develop another product?
  • How much time do I need to invest daily on this product?
  • What is the real potential income for this product?
  • How much money do I have to spend developing it?
  • Do I need to have a website?
  • Do I need to develop a website myself?
  • Do I need to write any code for it? If so, how much?
  • Do I need to have insurance to do this?
  • Who will buy this?
  • When will people buy this?
  • What do people pay for a similar product?
  • Is this yet another app?
  • Does Facebook/Google/Twitter/Nuuton offer a competing service?
  • Do I need a co-founder?
  • Do I want to work with another co-founder?
  • How much money do I have right now?
  • Do I need to get outside funding?
  • Do I know any investor interested in such market?
  • Is the product hard to exaplain?
  • Will I use the product myself?
  • Is there an open source alternative?
  • Can't I just re-brand an existing product and sell it as my own?
  • Do I need to take paypal?
  • Do I need to integrate with Stripe?
  • Will people think I'm crazy for doing this?
  • Will my wife approve of this?
  • Will I have to spend less time with my family in order to do this?
  • Will I sleep less?
  • Will I get time to exercise on a daily basis if this takes off?
  • Do I really want to do this for n amount of time?

I have to answer all of these questions in a satisfactory manner. What usually happens is that my reality sensors kick in and I get to look at the idea in a pragmatic matter. Most ideas fail to pass these questions. Do I throw out good ideas? Yes. Do I care? Not at all. I already have a good amount of business going on and have to be very skeptic about developing new ones.

Hope this list helps you in some manner.

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