Source |Fortune.com | BY:ANNE FISHER
Dear Annie: I hope this isn’t a dumb question, but how do you decide which ideas are worth pursuing and which are likely to lead nowhere? I’m on a 10-person task force that is supposed to write up a proposal for at least three new product ideas and present it to senior management. The problem is that, so far, we have a couple of dozen ideas we think have legs. How do we narrow it down to three (or maybe four)? Most of us have no previous experience with this, so anything you or your readers could suggest would really help. — Brainstorming in Boston
Dear B.B.: It’s not a dumb question at all. Overestimating the potential market for a new product or service, or underestimating how quickly competitors will make it irrelevant, is so common that even a master innovator like Steve Jobs bet on a dud now and then.