Screening OpportunitiesNEW PRODUCT DEVELOPMENT

BY: KENNETH TROYER

My Opportunities 1. Garage sale storage and hosting service

2. Peer to peer tool loaning service

3. Lost battery cover replacement

4. Personal hair styling service

5. Device that allows communication with other drivers.

Garage sale storage and hosting service

• You don’t have to clutter up your basement or garage with unwanted items trying to save them for a garage sale in the indefinite future.

• This service will haul away your unwanted items as needed

• Will price and sell for you in some way.

Peer to peer tool loaning service• Most likely an App

• Allows members to rent or borrow tools for credit from other members.

• Members list the tools which they are willing to lend or rent.

Lost battery cover replacement

• A service that can make a battery cover for any device.

• Customer just sends a few pictures and a cover can be made to fit

Personal hair styling service• In home service offering pre-work hair

blowouts and updos.

• My wife is a cosmetologist and says that people ask about this as a service.

Source: My wife

Device that allows communication with other drivers.

• Aside from flagging people down or using rather archaic signals, there is no real good way to communicate with drivers while on the road.

My Screen• Each Screening question was given a weight 1-10• Each opportunity was then scored 1-10• The score is then multiplied by the weight for each question.• The weighted scores are then summed to get the total.

Weight (1-10) Screening questions

Garage sale storage / hosting service.

P2P Tool loaning service.Battery Cover Replacement.

Personal Hair styling Service

Communication with other vehicles while driving.

5Do I have necessary resources?

5 5 5 3 5

7Do I have channels to access necessary resources?

7 7 7 8 6

10How motivated are you to work on this idea?

6 7 7 7 7

10 Marketability 8 6 8 6 7

5 Experience / knowledge 4 4 4 5 3

5 Personal Ability 5 3 3 5 3

3Easily understood concept

8 5 8 8 7

New Product or Service

Continued on next slide

3Easily understood concept

8 5 8 8 7

7 Feasibility 7 6 6 7 6

10 Solves a problem 8 8 8 5 7

5Time / effort involved (1= high)

5 4 4 6 4

10 Potential profitability 7 7 5 9 7

4Cost / investment required (1= high)

5 6 6 7 5

Total = Weight * Score 527 490 499 522 480

Weight (1-10) Screening questions

Garage sale storage / hosting service.

P2P Tool loaning service.Battery Cover Replacement.

Personal Hair styling Service

Communication with other vehicles while driving.

New Product or Service

Most important selection criteriaThe most important selection criteria were those which I weighted with a 10

• How motivated are you to work on this idea?• Without being motivated to work on an idea, progress will stop when it gets difficult.

• Marketability• The goal of these opportunities is to bring them to market.

• Solves a problem• Something that truly solves a problem for a group of people is more likely to be a success.

• Potential profitability• This may not be the goal for every opportunity, but generally in business it is the

underlying motive.

Garage sale storage and hosting service

The highest scoring Idea

All ideas in this presentation which were not credited to another, were generated by me.