To Go Or No Go, That Is The Question
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Last week we talked about a few of the ways to test the feasibility of a business idea to help determine if the idea really had merit or just looked good on the surface. To recap, I said dont bet the farm on the opinions of friends and family, consult with knowledgeable business experts, and conduct a SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis. This week lets take it a step further and talk about the creation of a formal Feasibility Plan which will he...
Small Business , \
Last week we talked about a few of the ways to test the feasibility of a business idea to help determine if the idea really had merit or just looked good on the surface. To recap, I said dont bet the farm on the opinions of friends and family, consult with knowledgeable business experts, and conduct a SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis. This week lets take it a step further and talk about the creation of a formal Feasibility Plan which will help you determine the true feasibility of your big business idea.
A feasibility plan is just that: a written plan that is created for the sole purpose of validating the feasibility of a business idea. Some call it a Go/No Go plan, because the results of a well-constructed feasibility plan will tell you whether or not the idea has a chance for success (thats a Go) or if this idea would be best left on the drawing board (thats a No Go).
Many entrepreneurs would rather have their front teeth pulled without anesthetic than go to the t
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