Page 195 - DNBI_A01.QXD

172

DEVELOPING NEW BUSINESS IDEAS evaluation framework 4: idea compatibility matrix A further
elaboration of the weighting technique is provided by the idea
compatibility matrix. This technique matches the attractiveness of the
business idea with its compatibility with your resources and goals; in
other words, the degree of fit between you and the idea can serve as a
screening and evaluation device, as shown in Figure 5.5.

High Idea attractivness Low
Medium

High Excellent idea Good idea Offers
– implement – implement drawbacks –
may not work

Compatibility Medium Good idea Offers Unlikely
with personal – implement drawbacks – to work
circumstances may not work

Low Offers Unlikely Unlikely
drawbacks – to work to work
may not work

Figure 5.5 Idea compatibility matrix

Using online book retailing as an example, Jeff Bezos’ grand vision
would be positioned in the top-left high/high box, whereas Darryl
Mattocks’ initial grand vision might feature in the bottom-left high/low
box, prompting him to reshape his initial idea.

As we shall see later, the key is to be self-aware – there is every merit in
recognising that a positive idea in its current configuration may not suit
your circumstances or specific abilities.

the benefits of an outsider’s objectivity You do not have to be the
inventor of an idea to see its potential. Often the reverse is true, where
an outsider can perceive the massive potential in a business idea which
the inventor or founder themselves perhaps cannot see, sometimes
because of their circumstances or specific abilities.

you do not have to be the inventor of an idea
to see its potential