How to Tell if a Product Idea is Good

A good product idea typically solves a real problem for a specific audience. It offers a unique and valuable solution that they are willing to pay for. If you think you have an idea that works, work through the following checklist to find out:

Product Idea Checklist

 Does your idea solve a real problem?

☐ Does it address a genuine need or pain point for potential customers?

☐ Do you have a clearly defined target audience?

☐ Do you understand their needs, preferences, and behaviors?

Are there similar products already on the market?

☐ What do existing solutions look like, and where are the gaps?

☐ Who are your main competitors?

☐ What are their strengths, weaknesses, pricing strategies, and marketing tactics?

☐ Is there proven demand for this type of product?

☐ What data supports that demand?

Have you collected feedback from potential customers or experts?

☐ Have you built a minimum viable product (MVP)?

☐ Has it been tested with real users for core functionality?

☐ Have you used surveys, prototypes, or landing pages to measure interest?

☐ What kind of feedback or engagement have you received?

 Do you have a pricing strategy?

☐ Can you generate a healthy profit at that price point?

☐ Is the product scalable?

☐ Can you realistically increase production and delivery as demand grows?

How much time, money, and effort will it take to build and launch this?

☐ Do you have access to the resources needed for development, production, and marketing?

☐ Are there any intellectual property issues that could get in the way?

☐ Have you checked for patents or trademarks that might pose a legal risk?