Feasibility Analysis

Image name: Feasibility_Analysis.PNG

Feasibility analysis is the process of determining if a business idea is viable. The most effective businesses emerge from a process that includes (1) recognizing a business idea, (2) testing the feasibility of the idea, (3) writing a business plan, and (4) launching the business. If a business idea falls short on one or more of the four components of feasibility analysis, it should be dropped or rethought. Many entrepreneurs make the mistake of identifying a business idea and then jumping directly to writing a business plan to describe and gain support for the idea. This sequence often omits or provides little time for the important step of testing the feasibility of a business idea before the business plan is written.  

© Entrepreneurship, Successfully Launching New Ventures