How Good Is Your Idea?
Idea Score
The Idea Score is a critical part of our evaluation process. It provides an objective assessment of new business ideas by combining key factors like market viability, scalability, innovation, and financial feasibility into a single numerical rating.
How We Calculate the Idea Score
Our Idea Score is calculated based on five key criteria: Market Demand, Innovation, Scalability, Feasibility, and Financial Viability. Each criterion is rated on a scale of 1 to 10, with 1 indicating low potential and 10 signifying high potential.
Each criterion is rated on a scale from 1 to 10, where 1 indicates low potential and 10 signifies high potential. The final Idea Score is the average of these ratings, providing a balanced assessment across all critical factors.
- Market Demand (30%): Measures the size and growth potential of the market, along with customer need.
- Innovation (20%): Assesses the uniqueness and competitive edge of the idea.
- Scalability (20%): Evaluates the ability to expand and grow the business.
- Feasibility (15%): Examines the practicality and logistical aspects of implementing the idea.
- Financial Viability (15%): Considers revenue potential, profitability, and financial sustainability.
Each criterion is rated on a scale from 1 to 10, where 1 indicates low potential and 10 signifies high potential. The final Idea Score is the average of these ratings, providing a balanced assessment across all critical factors.
- 70-100: 70-100: High potential. Strongly recommended for pursuit and investment.
- 40-69: Moderate potential, may require further development or strategic planning.
- Below 40: Low potential, significant improvement needed or reconsideration advised.
This methodology ensures a comprehensive and objective evaluation of each business idea, guiding entrepreneurs and investors in making informed decisions.