Is It Useful?
I have reviewed and critiqued thousands of startup pitches and demos. The first question I seek to answer is basic – is it useful? If the answer is no, I go no further. If the answer is yes, I drill down. The adjective ‘useful’ is defined as: serving a purpose; filling a need; helpful; advantageous; of good and valuable effect; and productive. Once you have an idea, ask whether it is useful; and if so, determine who will find it useful, and why. Obviously, a startup must also monetize, but this simple exercise is more likely than anything else to be determinative of success or failure.