Week 6 Assignment – Feasibility Analysis

Instructions

You will refer to the same business you described in your first assignment, Creating a Small Business. To complete this assignment, you will need to download the

and respond to the following items:

1. Industry and Market Feasibility: Identify industry trends, target market demand, and competitive landscape. Assess the feasibility of each element.
2. Product or Service Feasibility: Assess the viability, uniqueness, and problem-solving potential of your product or service. Determine the business’s feasibility based on your assessment of each of these three elements.
3. Financial Feasibility: Outline the business’s startup costs, potential funding sources, and revenue projections. Determine the business’s feasibility based on your assessment of each of these three elements.
4. Entrepreneurial Readiness: Evaluate your skills, experience, and available resources for launching and managing the business. Determine the business’s feasibility based on your assessment of each of these three elements.
5. Conclusion: Determine whether the business idea needs to be modified, changed significantly, or abandoned based on your feasibility analysis. Identify two next steps you would need to take to move your idea forward.

• Note: If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.

1. Include at least two references outside the textbook.