Tool - Too Many Ideas Framework
if you have too many ideas and difficulty prioritizing which to work on, a good tool to determine what to work on is to the The $100 Startup decision making tool.
- Impact: This is a measure of the impact your idea may have on people and their lives.
- Effort: This is a measure of the amount of effort it would take to launch and maintain this idea. A lower score (1 or 2) indicates more effort while a higher score (4 or 5) indicates low effort.
- Profitability: This is a measure of how profitable this idea may be. Keep in mind profitability is not just how much revenue you can earn but the difference between revenue and cost.
- Vision: This is a measure of how closely this idea aligns with your personal/professional vision in life and how you want to put a dent in the world.
- Sum: Total. The highest outcome determines the optimal priority