This document outlines a 12-step process for product development: 1. Identify mega-trends, mega-truths, barriers, and competitors in the state-of-the-art. 2. Determine the size and market potential of the idea. 3. Evaluate the value proposition and whether customers would pay more for improvements. 4. Estimate the perceived cost of the idea to customers in terms of disruption, data migration, etc. and ways to reduce costs. 5. Generate alternative ideas and benchmark them objectively without bias before testing prototypes with real clients and iterating based on feedback. The challenges are developing an idea that is 10x better than incumbents to attract