What's a good idea?
Who had this electrical fly-catcher at home five years ago?
What a great idea!
This question deserves a short & simple answer: We don't know. Nobody does.
However, though you may not be able to tell a good idea when you got one, it is possible to determine a 'loser' idea. There are some reasonably concrete requirements for a good idea, and if your idea does not meet those requirements, it is a 'loser' idea. If your idea meets all the requirements, it is not a guarantee however that your idea will be a success.
It is Comfortuna's core business to screen ideas into depth. In this way, we can distinguish the ideas which might bring commercial success. Comfortuna screens ideas on three main criteria: desirability, value and speed-to-market.
The idea's subject is desirable if a market exists for it. This sounds very basic, but is at the same time quite subjective and hence the toughest criterion to determine.
Some questions may help you getting started: who wants it? what feature do you like most and least about it? how many people would your idea address? out of these people, how many (%) would actually buy your idea?
Big companies spend millions every year to make sure their new products fit this magic definition. Also Comfortuna spends a lot of effort in this area in order to screen the viability of the idea. Comfortuna conducts surveys, inquiries, in-depth interviews and target market analysis. Friends tell you what you want to hear, the market tells you what you need to hear...
Your idea won't sell in the market if the price of your idea is not rightly set. Your idea must be marketed value-for-money for the customer, but at the same time for the various parties along the supply chain: the seller, the distributor, the manufacturer, the manufacturer's suppliers. Unless everybody from the mineworker to the diamant store can make a fair profit out of your jewel idea, your target customer will not (be able to) buy anything...
Ask yourself: what would I be ready to pay for the idea? what parties are involved and what would it cost to get the idea to the market? Multiply that cost with at least a factor two... for all the steps you may have forgotten: did you include VAT? what are applicable regulations? how will you advertise? in what packaging will you sell your idea? how will you manage administration?
Comfortuna verifies the total-cost-to-market while analyzing the target market's price sensitivity.
Speed-to-market: the quicker, the better. Have you seen original products during holidays or trips abroad which you cannot buy in your home country? Let us know!
Bringing your idea to the market!