Introduction to Entrepreneurship Launching New Ventures Allen 5th Edition Chapter 5 Feasibility Analysis and Testing Business Concepts Feasibility analysis is about testing a new business concept in order to get quick feedback from potential customers end users Preparing for Feasibility Analysis Is the customer market of sufficient size to make the concept viable 1 2 Do the capital requirements to start based on estimates of sales and expenses make sense 3 Can appropriate startup founding team be assembled efficiently to execute the concept many concepts can achieve feasibility in the right place with the right conditions Pre Feasibility Quick Look Assessment 1 Draft description of the business discuss market problem product service offering first customer value proposition and delivery of value 2 Examine the industry 3 Describe the product service in terms of benefit to the customer 4 Examine founding team management capabilities and expertise target market defined by paying customers end users good product service definition CRITICAL to customer satisfaction if conditions are right the entrepreneur can launch the business in a limited way then complete a comprehensive business plan to prepare for growth and need for outside capital Feasibility Outline Components of the Written Report Analysis Industry Market Analysis 1 Executive summary 2 Title page name of company feasibility study founding team members names 3 Table of contents 4 Feasibility decision 5 Business concept 6 7 Founding team 8 Product Service development plan 9 Financial plan 10 Timeline to launch 11 Bibliography endnotes 12 appendix
View Full Document
Unlocking...