Activity 4: Feasibility

Once you discover a good business idea, it is important to carefully evaluate the potential feasibility of the venture. Feasible means “capable of being carried out” or “workable.”

Here are the questions you need to ask:

1. Do I have adequate knowledge and skills to run this business?
2. Do I have enough time to operate this business?
3. Do I have access to any equipment that is necessary?
4. Are there any safety problems with this business?
5. Does this business fit my personal values and ethics?
6. How will I fare against my potential competitors in this business?
7. Are there enough potential customers to support this business?
8. Will I be able to get the money I need to start this business?
9. Will this business bring in a consistent income?
10. How soon will I start making money with this business?

Clicking the link below will give you a checklist to use in evaluating the feasibility of your own business idea:

Download Activity 4: Feasibility Checklist

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