Have you ever had a great idea that would solve a need in your business, but you aren’t sure how to communicate its effectiveness? It may be time for you to build a proof of concept (POC).
POC success can be difficult to obtain without the correct knowledge, organization, and criteria to truly showcase your idea.
We’ve put together exactly what you’ll need to build a successful POC that you can turn your idea into actuality.
What Is a Proof of Concept?
A Proof of Concept is used by companies to determine whether an idea can be turned into reality. Developing this project feasibility analysis will help demonstrate the idea’s practical potential in solving a particular business need.
POC’s are crucial in deciding whether a project gets moved forward based on the potential successes and problem areas. To do this, you need to be aware of the criteria for how your POC will be assessed.
POC Success Criteria
When building a POC, think of it as a test project that needs evaluation before work can actually begin. With this in mind, it’s important to follow a project feasibility checklist. Continue reading to learn the most important factors when building your POC.
Identify Decision Makers
Identify the decision-makers in your company. Who will you be presenting your idea to? Who will have a hand in the project if it’s developed?
Define what their values are so you can show how your idea will align with those values. Without their buy-in on your POC, your idea will likely never come to fruition.
Outline Goals and Logistics
Your POC should clearly outline your short-term and long-term goals. Ask yourself, what are your goals with this project? What will this idea specifically help to solve within the business?
Include a tentative budget and timeline for the entire project and for checkpoints along the way. What should be accomplished in 3 months to a year?
Determine the measurements for success. What key performance indicators (KPI’s) do you want to reach within those timeframes?
Also include the size of the team you’d need to be to get this project done. Consider which skill-sets would be required and make recommendations on which employees you think would be best for the job.
Consider following a proof of concept guide for additional resources and tips!
Prepare for the Worst
No matter how hard you plan for the best, you have to acknowledge that problems will arise. Use your POC to showcase how you would solve those potential issues so they don’t derail the project.
One project feasibility example of an issue that could arise is how this project affects competition in your industry. Will your idea create a new differentiator for your business? Include all possibilities within your competitive market space.
POC success is achievable if you clearly show how this idea will help your business grow. Showcase your project as a necessity to your company and be clear about the details.
Learn more about business development today!