Feasibility Analysis

How can you know if a startup idea is going to work? Most entrepreneurs are usually too confident in their startup idea’s success and often underestimate the market competition. Conducting a feasibility analysis can help erase some of the uncertainties of a business launch, and make sure that the business idea is viable and worth pursuing. This should be done before you develop a complete business plan.

After reading this, you should know: 
  • The 4 forms of feasibility analysis
  • How to assess your product/service
  • How to determine if now is the suitable time to work on your product
  • See if your current team is able to deliver with sufficient resources (and if not, how to strengthen it)
  • The financial considerations for your startup project
Questions to Consider:
  • Is your product/ service needed by a huge number of customers to solve their problem/ desire?
  • What is the market for your product/service? How can you reach it?
  • Is your team able to work on your product/service effectively? If not, how do you plan to solve it?




Get Knowledge, YouTube (2017, Sept 6). Feasibility Analysis | Entrepreneurship (Chapter 3). (00:00-02:00)
Retrieved from: https://www.youtube.com/watch?v=IZcpCfskoys (Last accessed 2020, Jan 30)