To Build or Not

Recently I've been asked the same question many times over: how do you decide if you want to build a product in the first place?  My answer is very basic and always the same. Here it is:

1. Exactly what problem will this solve? (value prop)

2. For whom is that problem solved? (target market)

3. How large is the opportunity? (market size)

4. How is success measured? (metrics/revenue strategy)

5. What alternatives are available? (competitive landscape)

6. Why you? (differentiator)

7. Why now? (market window)

8. How will the product get to market? (g2m strategy)

9. What are critical success factors? (solution requirements)

10. How to measure success / make money? (financial plan)