Here are the 3 Things Any Idea Needs to Survive

Desirability
Feasibility
Viability

Simple right?

These three things are what make up the Balanced Breakthrough Model. The model highlights the core requirements to become a successful innovation.

Here is a quick breakdown of each element:

Desirability - Is there an actual need for this idea? What specifically is the problem you are solving for people?

Feasibility - Can you actually build / implement the solution? How hard is it with your current context?

Viability - What is the investment required to create the solution? Is it really worth it? Can you derive long term value from the product or service you develop?

A lot of this may seem obvious, however so many people look to invent or innovate something and then start looking for the problem. Trying to create the context or need for your product to be required is never a good place to be in.

What gets interesting here is when you factor in timing, and this is something that A LOT of people miss. The three elements above are all needed, what happens though when the market isn't ready or the base requirements still are not cheap enough, or the market is not ready to adopt it.

This can lead to a situation where you try to push your innovation into the market too early, and it will fail. The concept of the correct timing is framed beautifully be Steven Johnson in his book "Where do Great Ideas Come From", if you haven't read it yet, I suggest you do.

Never lose sight of the fact that timing and context matter. Being the most visionary person on the planet will never help you sell a product to people who simply are not ready for it.

There are three roads that your innovation goes down as you test versus the Balanced Breakthrough model. Your idea and the market is ready, so it's time to get to work. Your idea is ready but it's too soon or the market is not ready for it, in this case you can try to force your play early (not recommended) or park it and wait until you see more maturity. Third is that your idea fails the test and doesn't have legs, you need to kill it and move on; don't fall in love with your product if no one needs it.

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