Faculty - Information Science Division
This guide supports and provides research resouces for the EPS165 - New Venture Feasability Analysis classes.
Feasibility Study Video
What is New Venture Feasibility Analysis?
New Venture Feasibility Analysis is a systematic and comprehensive evaluation of a proposed business idea or project to assess its viability and potential for success 1. It’s an important step in successful project management 2. Here are the key components of a New Venture Feasibility Analysis:
- Company Overview: A brief description of the company you have founded or want to found 3.
- Product/Service Description: A detailed description of the products and/or services you will be selling 3.
- Industry and Marketplace Analysis: This section dispassionately describes and outlines the industry and the marketplace in which you will compete 3.
- Marketing Strategy: How you plan to attract and retain customers 3.
- Distribution and Sales Strategy: How you plan to deliver your product or service to your customers 3.
- Operations Plan: How you will run the company, including information about the people, processes, and technologies you need 3.
- Development Plan: How you plan to grow your business3.
- Financial Estimates: Your predictions about your revenue, costs, and profitability 3.
This analysis helps to identify potential challenges and opportunities, ensuring informed decisions2. It evaluates various aspects such as market demand, technical feasibility, financial viability, and operational capabilities 1. It’s often conducted after the project has been pitched but before any work has actually started 2.
References:
Learn more
1. appinio.com 2. asana.com 3. leeds-faculty.colorado.edu 4. leeds-faculty.colorado.edu 5. asana.com 6. appinio.com 7, fastercapital.com8geektonight.com
What is New Venture Feasibility Analysis? - Articles
- Feasibility Analysis of New Ventures and New Venture FinancingFeasibility analysis is a comprehensive research study required by the entrepreneur or his agent to determine the practicability, profitability and viability of the business idea.
- What Is a Feasibility Study? - InvestopediaA feasibility study is an analysis that considers all of a project's relevant factors—including economic, technical, legal, and scheduling considerations—to ascertain the likelihood of completing the project successfully.
- Feasibility Study - Encyclopedia of Small BusinessA feasibility study is done by an organization in order to determine if a particular action makes sense from an economic and operational standpoint. Such a study is usually designed to provide an overview of the essential issues related to a course of action being considered. The goal is to test the feasibility of a proposed course of action and to identify any “make or break” issues that would argue against the action being taken or suggest that a successful outcome would be unlikely.
Conducting a Feasibility Analysis
As the name suggests, a feasibility analysis is designed to assess whether your entrepreneurial endeavor is, in fact, feasible or possible. By evaluating your management team, assessing the market for your concept, estimating financial viability, and identifying potential pitfalls, you can make an informed choice about the achievability of your entrepreneurial endeavor. A feasibility analysis is largely numbers driven and can be far more in depth than a business plan.
An analysis of organizational feasibility focuses on resource needs and management capabilities.(attribution: Copyright Rice University, OpenStax, under CC BY 4.0 license)
How to Write a Feasibility Analysis Report
- How to Write a Feasibility Analysis ReportA feasibility analysis report for a start up business can be a simple or complex exercise, depending on the type of business. The best approach is to first determine what the entrepreneur requires it for and what interests him/her. Then, set the criteria that need to be fulfilled in order to justify the start up business or convince decision makers who have to approve whatever for the business. The structure/contents template of a feasibility analysis report is neither rigid nor limited, and depends only on the needs, type and organization that require it.