Page 182 - DNBI_A01.QXD

5
five

step three– evaluating and
selecting ideas

G Karan Bilimoria – brewing the criteria to achieve the ‘big one’ 159
G evaluation allows development, not just selection
G two-phase screening process
G evaluation frameworks for screening ideas
G criteria to use within the frameworks
G business-focused criteria
G person-focused criteria
G prototyping
G Gary Mueller and Internet Securities, Inc. – selecting a venture to

suit his needs

Faced with many apparently possible ideas, how will you focus your
efforts on developing the most promising, rather than spread yourself
thinly across them all?

Your first task is to define ‘promising’. Does the market want your idea
and, most importantly, will the market pay for it? Is the idea feasible?
How will the competition react? And so on.

Don’t forget that these underlying questions aren’t static – they should
contribute to shaping your idea further. After all, Karan Bilimoria
originally intended to import an existing Indian beer and elected to
have his own Cobra brand brewed only when all the beers already on
the market failed to satisfy his key criteria.