Is Your Business Feasible...Financially and Otherwise?

Assessing the feasibility of your business idea requires you to look at the business from a financial viewpoint and from the viewpoint of your personal goals and resources. We have done that by analyzing your:

• Personal Goals
• Your Skills and Resources
• Market
• Demand
• Competition/Marketing
• Financials
  • Startup Capital Needs
  • Balance Sheet
  • Operating Revenues
  • Operating Expenses
  • Income Statement
  • Cash Flow Statement
  • Business Phases and Future Cash Flow Needs

Below is a summary of questions to ask yourself. If the answers are good, then you have a sound business idea.

What do the Financial Statements tell you?

• Balance Sheet
• Income Statement
• Cash Flow Statement

What does the Market tell you?

• large enough in size
• accessible
• responsive
• room competitively
• can you develop a marketing plan

What does the capital and cash position tell you?

• raise startup capital
• adequate working capital
• expenses manageable

Can you charge a high enough price to:

• cover costs
• yield profit goals
• recover investment?

What will the competitive reaction be?

• Are you vulnerable to competitive reactions
• Do you have a niche
• Do you have a distinct trade area
• Can you find a suitable location
• Do you have adequate capital to grow the business and become profitable
• Do you have a unique selling proposition
• Do you have a distinct brand or product position?

What does your analysis of personal goals and resources tell you?

• adequate resources
• the ability to gain resources, skills and abilities in time
• ability and willingness to add partners or employees to your resources and skill mix
• does the business meet your personal goals
• will the lifestyle meet your needs or family situational needs?
  

Your answers to these questions will give you a good sense of the overall feasibility of your business idea.

You would then want to continue to develop the business plan, seek sources of capital and take steps to implement the business plan and open the doors for business!