Investable ideas

When describing a business idea we should be able to articulate, at the very least, who is it for, what is it about, and what is the benefit for the customer and organisation. But why these three specific elements?

Because business ideas must be investable opportunities. And with three elements above we can begin to answer is an idea worth investing in. Initial investment is most often in form of human effort—surfacing riskiest assumptions, exploring the opportunity space, and identifying key actions for further developing the idea.

By ensuring ideas are investable opportunities, we are setting ourselves up for profitable innovation. And yes, that means that we will have to skip on some investments, and double down on others.