I can employ entrepreneurial discovery strategies to generate feasible ideas for business

ventures/products.

Feasibility Study

Provides an ______overview__________ of the primary issues related to a business/venture idea. It

determines if the business venture is feasible or “___________”.

What is the Purpose of a Feasiblity Study?

Determines whether the business/venture idea makes____sense________.

Are there any_____make____ or _____Break__________ ______issues________ that would prevent

your business from being successful in the marketplace?

Identifies ___________Roadblock_________ facing your business/venture ___Before___________ you

make an investment.

To answer the question: Should I _________proceed _________ with this project?

Benefits of a Feasibility Study

Provides a lot of _________information_____________ necessary for the business/venture plan.

Good _______market _______ ______analysis_________ is necessary in order to determine the

business/venture feasibility.

Identifies reasons NOT to _______proceed________

Provides documentation that the business was thoroughly _____________investigated ________ (will
help with getting _____financing_____________, as well as help to attract equity investment)

Identifies _____New_______ opportunities through the investigative process.

Reasons people choose to NOT conduct a Feasibility Study...

Already know it is feasible (another business is already ___doing________ it and is

_______successful____________).

Why do one when one was _______done__ a ___few____ ____years_____ ago?

Just a way for _______consultants___________ to make _____money_______.

Market analysis has already been done by the business that sold us the equipment.

A feasibility study is a waste of_______time_______.

These may sound like good answers but remember... you may live with these decisions for a
long time.
Conducting the Feasibility Study...

Market Considerations
Current or projected _______demand______for your proposed product or service(s)?

What are the _______target____ _______markets______ for your product or service?

What _________competition_____________ exists in this market?

Is the _______Location_____________ of your proposed business location likely to affect the success of
your business?

What is the projected _________supply_______ in your area of the products or services needed for your
project?

Technical Considerations

Technology may or may not be of critical importance. Compare a daycare center to a manufacturing
enterprise.

If Technology is a consideration:

What are the _______needs________ for the business/venture?

What other _____________equipment__________ does your business need?

________Where_______ will you get it?

_______When____ will you get it?

What does it _______cost______?

Financial Considerations

_____Start_____-__up___ Costs

__________Operating _______ Costs

_________Revenue_______ Projections

Sources of _______________Fiancing ________

________Profitability_________ Analysis

Organizational / Managerial

What organizational ________Structure__________ is the right one for your business/venture?

Who will serve on the ______Board __________ of _______Directors ____________ and what are their
________qualifications_______________?

What qualifications are needed to __________manage___________ this business?

_______Who_______ will manage the business?

What are the __________staffing____________ needs?

Competitive Considerations

What ______competition________________ exists in this market?

Can you establish a market ______niche__________ which will enable you to

__________compete__________ effectively with others providing this product or service?

How much is your competition ______charging_____________ for similar product?

Elements of a Well-Conducted Feasibility Study

In order for a feasibility to be useful it must be__________Complete_____________ and include (at a

minimum) the following elements:

_____Project_________ ___Scope_______-Defines the business problem and/or opportunity to be

addressed.

_______Current_______ ______Analysis_________-Define and understand the current method of

implementation, such as a system, a product, etc.

___________Requirements_____________ -Financial, Human Resources, Material, Equipment

-Depends on the project

_____Approach_________ Recommended solution or course of action to satisfy the requirements.

_____Evalutuin____________Examines the cost effectiveness of the Approach selected.

__________Review_________All of the preceding elements are then assembled into a Feasibility Study
and a formal review is conducted with all parties involved.