How to define whether it is new or not?

May be new to you, to your peer group, new to the industry or new to the world (obviously these are massively different and can have different impact)


How to define whether it is valuable or not?

for some it is to generate income, standing out from competition, making people feel something.

So, its good to define the value you are aiming for upfront. If you are clear, you got fair chance of achieving it, easy to judge at the end.