1. Gather context: Understand the problem, personas, and market.
2. Define outcomes: Specify business and product goals.
3. Frame the problem: Create a user-centric problem statement.
4. Define the solution hypothesis: Formulate an 'if/then' statement.
5. Define positioning: Craft value proposition and differentiation statements.
6. Document assumptions & unknowns: Identify potential invalidations.
7. Identify PESTEL risks: Assess political, economic, social, etc. risks.
8. Justify the value: Explain why this solution is worthwhile.