A checklist to help green-light your next idea template

1. How passionate are you about the side‐project subject?

Rate from 1‐10. 8 or above is Green. Go. Now. 

Will I have a ton of fun building it?

2. Why exactly are you building this side‐project?

To get known as a Maker? 

To make more money?

To quit my job now? 

To grow a business and hire people?

To solve my own problem/need?

To learn a new skill?

To potentially help my existing projects?

To form a contingency plan for my current project? 

To build something of value that can help people?

3. Will you use your own side‐project?  

4. Opportunity costs?

Why don't I improve my existing projects with this time?

Am I procrastinating on a bigger, more important project?

Have I considering ridding of a side‐project I am less passionate about, to make space for this new one?

5. Will your side‐project solve a real problem?

Does my idea solve an easy or difficult problem?

Have I researched if there are already solutions to my problem?

Are there still pain‐points in the industry?

How light can I test and validate that my idea is actually solving a problem?

Are people willing to pay for my product or service?

Will my idea be relevant in 1,2,3,5,10 years? 

6. Is the side‐project market progressive? 

What does my gut say?

Have I spent an hour in Google Trends?

7. Competition

No competition = bad.

Ton of competition = ok.

Ton of competition but not much within my niche = good. Can I target a niche within the broader industry?

Do I know how big this industry is?

How big are the social media followings of my competitors?

8. Are you able to build everything?

Do I have time to build this side‐project while you are working on your main project or day job?

How much do I need to outsourcing?

Do I have savings to outsource?

Without outsourcing, can I launch at lighter version of this side‐project idea to validate outsourcing?

9. Who is creating content and how often?

Am I building a community?

Am I building a standalone tool? 

Does my side‐project promise timely content? 

Does my side‐project need moderation? 

Can I walk away from the idea for a day, week, month, year?

10. Are you fit for the hustle?

Am I mentally strong enough for the inevitable dip? 

Am I in it for the short or long game?