I have got it down to a three-point hypothesis followed by ten simple questions
The innovators hypothesis
- people doing X
- have experience Y
- which makes them want Z
The questions that need to be answered:
- who is actually doing X?
- are they really having experience Y?
- what other relevant experiences are they having?
- do they really want Z?
- what else do they want?
- how much would they be prepared to pay for it?
- how many people would be prepared to pay that much?
- could you deliver what they want, when they want it?
- could you deliver what they want, financially sustainably?
- does this particular business model fit your needs and aspirations?