I have this spreadsheet for storing startup ideas I might like to work on someday.
Here’s the full sheet: https://docs.google.com/spreadsheets/d/1i3gSydipLoRbHmGN7mTMk1xif_k14NhoL-DMqKiDE3g
As you can see I score each idea according to several different factors.
At the bottom I do a weighted average of all these factors to come up with a single score for the idea and then I sort all the ideas by this score:
Note some factors have negative weights — indicating that a high score for that factor is bad.
So far this has been a great way to quickly think through any ideas that pop into my head. It also helps ensure that when I do work on something, I’m working on the thing with the highest expected value. It’s also easy to add new factors or adjust the weights for existing ones as I learn more about what makes an idea great.
I’ve got another spreadsheet for rating potential cofounders. But I’m not going to make that one public for obvious reasons. 🙂
If you have a large number of candidates to choose from and each candidate differs in a lot of ways, this kind of spreadsheet seems like a great solution. A more businessy friend once told me that there is a word for this sort of analysis, but I can’t remember what it is. Let me know if you know.