1. It must solve a problem.
If it doesn’t fix, mend or alleviate a nagging pain, problem, condition or situation why would people want it, much less buy it? There must be a strong, recognizable and somewhat measurable or appreciable benefit to owning and using your product.
2. It must have mass appeal.
You may have invented the best mousetrap ever, but if only one in ten million homes has a mouse problem… you’re not going to sell a heck of a lot of mouse traps. Sure, you can sell just a few at a ridiculously high price-point? But a mouse-trap priced at $50,000… how easy of a sale will that be?
3. It must be unique.
If it’s the first or only one of its kind that’s a homerun! If it’s not, then it should at least be different and beneficial in a way that isn’t currently offered. A rose by any other name is still a rose but a rose that never loses its petals, now that would be unique.
4. It must offer instant gratification.
If it’ll only be of use next spring, why buy it today? People don’t want to buy seeds. They want the fully grown tree, planted and providing shade now. We’re an impatient nation of consumers. We don’t want the fishing pole we want the fish fresh, filleted, seasoned and served.
5. It must be demonstrable.
It’s a law of nature: seeing is believing. The customer must see with their own eyes how easily, quickly and effectively your product does what it does. Though people will often say they can’t trust their eyes they always do.