Want your new project to be a game-changer? Before you launch, consider these three questions Jeff Bezos uses to assess executive proposals.
Jeff Bezos’ 3 question test for new ideas:
1. Is it real?
The Translation: Is this project feasible right now, or is it based on futuristic, unproven technology, or an unrealistic market condition? You must differentiate between ambitious but achievable projects and those that are simply unrealistic.
2. Is it worth it?
The Translation: Does this opportunity offer a substantial return on investment or fulfill a significant market need? Executives focus on initiatives that impact revenue or reduce costs. It's not enough for an idea to be feasible; it must also offer substantial benefits to the business.
3. Can we win?
The Translation: Does your organization have the required resources, capabilities, and market positioning to dominate this segment? This question forces you to assess your competitive advantage and existing capabilities.
If you are struggling to move up or launch your big idea, take a moment to look at your work through this lens.
If you are aiming for the executive level, mastering questioning skills and communicating insightful answers like these is paramount.