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One way to plan the start up process and resolve many of the issues is to carry out - or commission - a formal feasibility study. This may well be appropriate when creation of a trust depends on making a bid to one or more funders. This sheet consequently describes a 'top down' process. Each situation will be different, but here are some guidelines which should help ensure the feasibility work leads to a well structured bid.
The eventual feasibility of a Development Trust depends on a number of key factors which correspond to areas of good practice or competence.
A well-conceived start up process involving key interests in developing a bid to funders based on an outline business plan. Recruiting high-calibre people from public, private and voluntary sectors for the Board to develop a shared mission. They will be responsible for the governance of the Trust. Establishing sound management practices Making communications a two-way process - both presenting ideas well, and listening to others Planning for financial sustainability from the start Following sound project management practices
The Competence summary sheet, and other main competence sheets, provide more detailed checklists. Any feasibility work should, therefore, aim to answer the question: How can we create a competent Development Trust? From the above it should be clear that feasibility is more than a question of identifying project opportunities and funding sources. It also involves finding people with commitment and skills, and ways of working with existing organisations. This means that establishing whether a Trust is feasible or not is a process with a number of strands - not a snapshot technical study. The main strands are:
and discuss that informally with those who may be sponsors. The local audit The development officer. support. and would be appropriate to the work programme of the Trust whether it is directly implementing or playing some other role. of what the Trust may be like with a number of interests A local audit. Review what other organisations are working in the area. private or voluntary sectors in terms of funding and participation in the Trust. who is doing what. or play a part in the Trust Testing different packages of projects. of the problems and opportunities in an area. and consider how the Trust could complement their activities and work in partnership with them. The initial concept or vision After one or more meetings with funders the initial champions will develop their first concept or vision of what a local Development Trust might be like. should: Understand the boundaries of possible Development Trust activity: what may be funded. A development officer should be appointed to carry through the next stages of the process. what performance measures are used. or vision. Identify what support may lie in the public. These terms may well be formalised in some form of agreement. People and project . and what is expected. Identify the main problems and opportunities in the area which will establish the need for a Development Trust. what is realistic. They relate to the early stages described in the Start Up summary sheet. staffing and funding which may form the basis of the bid. perhaps working with a consultant. Understanding what funders may offer Developing and discussing a concept. or appraisal. Identify projects or programme areas which could meet these needs. and the resources that may be available Identifying possible projects .some of which will earn income for the Trust Recruiting key interests who may sponsor. Understanding what is on offer Funders who may be inviting a bid will brief the 'champions' who want to promote a Development Trust on what they can offer. The elements of the feasibility study These strands of work are set out below in more detail.
Preparing the bid or proposal The proposal or bid for funding should be developed as a draft business plan. Checklist In undertaking a feasibility assessment. The way to make the link is a three-stage process. then bring those interested together at a seminar. It may be appropriate to produce some simple leaflets or newsletters during the process to keep people informed and motivated. On the other hand one of the easiest ways to recruit people is to offer them a way of following their enthusiasms. the key to a successful Trust often lies in linking projects and people. However. who you should talk to informally before starting the process what skills and funds you will need for the feasibility process whether you will be able to find a development officer within your own organisation which local organisations might host workshops and presentations at what stage it will be appropriate to form a steering group how you will communicate with people during the feasibility assessment whether there are any fixed points which should influence the timetable © David Wilcox david@partnerships. Partnerships Online : The Guide to Development Trusts and Partnerships: other sheets .uk. private and voluntary interests to see how far their 'pictures of the future' differ or overlap. one contact often leading to another. and what may be expected. These information sheets may be freely distributed with this attribution. Workshops: running informal sessions at which your contacts can brainstorm project ideas and reach a consensus on priorities Feedback: presenting the results of the workshops and any subsequent research back to participants. Networking: making informal contact with a range of interests identified in your audit. On the one hand projects are more like to be supported if they are 'owned' by key interests. It is often most productive to run separate workshops or presentations with public. See the information sheet on this in the Management section.and so may some supporters. consider: whether you understand from the outset what funders offers. Tel +44 (0)1273 677377. but not republished as a whole.Some project opportunities may be obvious .org. Fax: +44 (0)1273 677379.
com Guide See More About: feasibility study marketing psychology marketing plans marketing tools Ads Business Plan Sampleskimptonconsulting. .LifesGreatestQuestion.gurango. Develop marketing strategies to convince a bank or investor that your business is worth considering as an investment. Feasibility studies address things like where and how the business will operate. Get a certificate Women in Business Ads Feasibility Study Example Business Planing Small Business Tips Find Business Information Business Plan Template Ads Realistic Business PlansPlanMagic. They provide in-depth details about the business to determine if and how it can succeed. Why Are Feasibility Studies so Important? The information you gather and present in your feasibility study will help you: List in detail all the things you need to make the business work.comHear from a successful businessman How God can change your life Free Entrepreneur Courseswww. where.What is a Feasibility Study? A Comprehensive Feasibility Study Supports Business & Marketing Plans By Lahle Wolfe.com/plansStart your company right Let us make your business plan. and Serve as a solid foundation for developing your business plan. About.comFull-service IT business solutions provider in Singapore. God and businesswww.List of All Lessons Definition of Feasibility Studies: A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems and attempts to answer one main question: Will the idea work and should you proceed with it? Before you begin writing your business plan you need to identify how. and serve as a valuable tool for developing a winning business plan.comSpecific business plan templates Fully automated 10-year projections IT Business Solutionswww.life-global. and to whom you intend to sell a service or product.orgTrain IT & business skills online! Hands-on courses. You also need to assess your competition and figure out how much money you need to start your business and keep it running until it is established. Contact us! Feasibility Study Course Index . Identify logistical and other business-related problems and solutions.Feasibility Study Course Lesson 1 .
sources of capital. even limit the number of customers a business can receive each day. current market.. sales projections. the market. the resources you need to make the business run efficiently. Technical Feasibility: Details how you will deliver a product or service (i. returns on investment. parking spaces. etc. Conclusions: Discusses how the business can succeed. Summary: Feasibility studies contain comprehensive. This is especially important for store-front retail businesses where location could make or break your business. materials. most commercial space leases place restrictions on businesses that can have a dramatic impact on income. restrict the product or service you can offer. logistics of how you will actually deliver a product or service. anticipated future market potential. For example.e. detailed information about your business structure. The Components of a Feasibility Study Description of the Business: The product or services to be offered and how they will be delivered. etc. Feasibility Study Course Navigation Complete Feasibility Study Course Syllabus Feasibility Study Course Lesson 1 . technology needed. competition. as well as other information about the business. and in some cases. Be honest in your assessment because investors won’t just look at your conclusions they will also look at the data and will question your conclusions if they are unrealistic. potential buyers. transportation.). where your business will be located. your products and services. Organizational Feasibility: Defines the legal and corporate structure of the business (may also include professional background information about the founders and what skills they can contribute to the business). A lease may limit business hours/days. Financial Feasibility: Projects how much start-up capital is needed. Market Feasibility: Includes a description of the industry.Even if you have a great business idea you still have to find a cost-effective way to market and sell your products and services. labor. etc.What is a Feasibility Study? Feasibility Study Course Lesson 2 – How to Write a Market Feasibility Study Feasibility Study Course Lesson 3 – How to Write a Technical Feasibility Study Feasibility Study Course Lesson 4 – How to Write a Financial Feasibility Study Feasibility Study Course Lesson 5 – Organizational Structure Feasibility Study Feasibility Study Course Lesson 6 – How to Write Feasibility Study Conclusions Feasibility Study Course Lesson 7 – Presenting a Completed Feasibility Study Related Articles on Marketing & Feasibility Studies Market Research on a Budget The Key To Marketing: The Marketing Plan What is Market Research WIB Statistics & Trends Trends and Statistics for Women in Business Statistics on the Rapid Growth in the Number of Women-Owned Businesses Fastest Growing Occupations in the United States Related Articles .
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