Planning Your New Business: Feasibility Analysis Part One

Date Added: Jan 2010
Format: HTML

The first concern for many would-be business owners is a creeping fear that whatever business they start, it will end up failing miserably and leave the company's founder with a lot less than what they started with. Given that few small business owners can call upon massive resources, this is an understandably frightening prospect. However, there is a way, called feasibility analysis, to gauge your chances of success. The first and most important rule of the feasibility analysis is to be honest with yourself. If you're not sure of something, find the truth of the matter, and don't forget to question assumptions. The second, equally important rule is to assume the worst when you're dealing with uncertain factors.