Whether starting a business or a project it is important to assess whether the project is feasible given the market conditions or not. A small investment is amassing the data about the market will help shape your decision as well as your conviction in the business. Feasibility studies help put together all of the relevant pieces of data before you decide to make a plunge into the business that might take years of your life and also significant investments over a period of time.
We have been putting together feasibility reports for various businesses across the globe. Based on up to date data from the local sources, combined with long terms trends that have been witnessed in the markets, these reports are powerful decision making tools for the entrepreneur.
In the feasibility study we try to establish the probability of challenges or problems that a business can face when entering the execution phase. It is different from a business plan in that we are trying to establish all of the gaps that exist and potential solutions that can be adopted to overcome those gaps.
A feasibility study looks at the following:
Technical Feasibility – What are the technical challenges that we are likely to face in this project and what are the potential solutions
Economic Feasibility – Market conditions, competitive landscape and policy limitations in the area that impose constraints on the business what is within the realms of possibility and what is not.
Legal Feasibility – What do the laws of the land allow and how?
Operational Feasbility – Is it possible to carry out the business in the way and form that it is being imagined? Are there constraints? Manpower, supply chain, etc.
Scheduling Feasibility – Are the timelines set for the project realistic? What can a delay do to the project?
Based on all of these data points a feasibility study offers a Go/No-Go decision for the project.
How we do it
For a feasibility study, the most important part is the data about every aspect of the project. Past data provides us the insight into what has been happening in a market and how it has been evolving and current data gives us a snapshot of the opportunity that we are faced with.
Put this together with the policy moves being made as well as the evolution that we are seeing in the market provides us with a great matrix to help entrepreneurs make a decision about the markets that they are seeking to enter.
We amass this data from various sources depending on the industry as well as the market that we are targeting. We put this data in a framework that provides a risk-reward scenarios of a decision and helps the decision maker understand the various possible outcomes.
We at Startup Squares have had the experience of working with a large number of entrepreneurs and businesses. This journey of ours started back in 2008 with a small initiative.
Over the years we have had the opportunity to work with several entrepreneurs, founders and investors and this has given us a depth of understanding of what we need to showcase about any business. We have worked with thousands of founders in this time.
We will bring the years of experience to the table to help and support your venture.