Prioritization grids are useful as ventures begin to explore a list of ideas, features or functions that could be included in the final solution. Situate each idea, feature or function based on its importance and feasibility. Ideas that are in the sweet spot and are both important and easy to implement are obviously ripe for the picking. Those that are expensive and unimportant are unwise to pursue. It's important to balance utilities and big bets. The question then becomes, how can you give utilities more impact and make big bets more feasible?
This exercise should be undertaken together as a venture team. By determining the value and importance of particular ideas, features or tasks as a group you can move forward with a shared understanding of which goals are best pursued first and why.
WHEN: If you are struggling to choose which test, idea, feature or function to pursue first then its time to use the prioritization grid.
WHY: Prioritization exercises are important because there are many tasks that can steal focus as ventures are built. By establishing priorities on a grid like this one, venture teams not only have a set of clear goals but also an understanding of why some are more important than others.
SUPPLIES: Click on the image to download a PDF of a blank grid or copy the axes on to a white board and use post-its to plot your ideas.