These days, Investors desire to make decisions that are smart and based on provable facts and figures. Gone are the days when Entrepreneurs invest in a business that is based on speculation.
Even though every business opportunity starts with some sort of speculation, testing the speculation to validate that it can be realized in the marketplace is a key requirement for making a decision that puts funds into a business opportunity. It is better to test the feasibility of a business opportunity before investing in it than investing in an opportunity that is not feasible ab initio only to know this after a huge amount of funds have been invested into it.
Sconducting a feasibility study helps us to understand whether a business idea, proposed project, or business venture is feasible, which is testing speculation to validate its realizability in the marketplace.
Key Areas of a
Feasibility Study
which include →
A feasibility study must cover the following key areas of evaluation at the minimum: