Is there a clear value proposition? Does it fit with the proposed customer segment? Have sufficient customer interviews been carried out? It there a believable customer profile? A clear idea of a solution?
Is there a sufficient market for the new product or service? Will it create a new market; or space in an existing one? Is the solution significantly different or better than the competition. Will customers invest the effort to switch? What is the size of the addressable market? Will it be possible to reach the initial target market?
How critical is the problem to the customer? Has this estimation been tested? What is their current workaround / coping strategy? Has the real problem been found (Five Whys)? Is the customer mindset well understood? Have early adopters been identified?
Are results from prototype tests sufficiently compelling? Did they show early adopters buy into the vision? Did the prototype capture the essence of the value proposition?
Will the product or service meet customer needs? Deliver the right experience? Appeal to emotional drivers? Is the market ready for it?
Are revenue streams scalable? Not reliant on one-off marketing? Has the correct price-point been found?
Did the Minimum Viable Product appeal more generally, i.e. beyond early adopters? Did metrics for acquisition reflect this? Was the key purpose sufficiently well executed, e.g. in terms of usability and design?
Have all the costs, resources and activities been accounted for? Do the costs balance - or will they at scale? Is the product or service produced and delivered in an efficient and lean way?
Is there a viable engine for business growth? Do the team capture the right metrics? Run sufficient tests? Will their business model keep improving? Does it justify higher investment to drive customer acquisition?