feasibility_study_guideline-1 - FEASIBILITY STUDY GUIDELINES Every entrepreneur should complete a feasibility study before writing a full-blown business

feasibility_study_guideline-1 - FEASIBILITY STUDY...

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F EASIBILITY S TUDY G UIDELINES Every entrepreneur should complete a feasibility study before writing a full-blown business plan. While preparing the feasibility study, you may dig up information that helps you fine tune or refocus your plans before proceeding to a start-up. Or you may conclude that the business simply is not feasible. If so, it’s best to find out now. The following worksheets will help you complete your feasibility study in a logical manner. In addition to the written feasibility study, your team will make a 20-minute presentation to the class on your business concept and the findings of your feasibility study. The feasibility study should include: 1. Cover Page 2. Table of Contents 3. Executive Summary 4. Business Concept 5. Product/Service Description 6. Industry Analysis 7. Market/Customer Analysis 8. Founding Team 9. Sales Strategy 10. Financial Plan 11. Feasibility Decision 12. Timeline to Launch 13. Bibliography 14. Appendices (if needed) These sections do not have to be in this exact order and you do not need to use these exact headings, but all the information does need to be in the study.
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Feasibility Study Guidelines 1. Cover Page This may seem obvious, but entrepreneurs sometimes forget this. 1.a. What is the venture name? 1.b.What is (are) your name(s) and how can you be contacted? Address, phone, fax, e-mail. 1.c. If you have a logo, include it here. 2. Table of Contents This helps the reader find information quickly and easily. Include page numbers. 3. Executive Summary If nothing else, this section will be read. In less than two pages, this is your opportunity to get the reader excited about your business concept. If you fail to interest your reader, this may be all that is read. In two pages or less, describe your organization, demonstrate that customers want your product or service, and describe your founding team. (This section should be completed last .) 3.a. What is your organization? What business is it in? 3.b.What makes your product/service different? What is your competitive advantage? 3.c.How do you know that customers want your product or service? 3.d.How much money is needed to start the venture? 3.e.Who is on the founding team? What are each member’s skills and talents? 3.f. Summarize the key points from each section. 4. Business Concept This is a short section: clear, direct, to the point. By short, think two sentences!
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