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BUSINESS CONCEPT FEASIBILITY ANALYSISASSESSMENTPRODUCTSERV
- 1. BUSINESS CONCEPT FEASIBILITY ANALYSIS/ASSESSMENT PRODUCT/SERVICE FEASIBILITY I. CONCEPT STATEMENT TEST A. Write a concept statement for your proposed business idea. Show the concept statement to 5-10 people. B. Ask them for feedback as follows: (1) 3 things they liked about your idea, (2) suggestions to make it better, (3) Do they think your idea is feasible, and (4) any additional comments C. Summarize their feedback in terms of (1) Strengths, (2) Suggestions for strengthening, (3) Percent who think it is feasible versus percent who do not, and (4) Other comments II. BUYING INTENTIONS SURVEY A. Do a simple survey of potential customers (15-30) as to whether they would definitely buy, probably buy, might or might not buy, probably would not buy, definitely would not buy. B. What is the percentage of definitely or probably would buy versus the total sample surveyed. INDUSTRY/MARKET FEASIBILITY III. INDUSTRY/TARGET MARKET/TIMELINESS ATTRACTIVENESS A. Assess the industry utilizing the five digit NAICS code (www.census.gov/epcd/www/naicstab.htm) B. Assess the industry in terms of potential as follows:
- 2. Low PotentialModerate PotentialHigh Potential # of competitors Many Few None Age of Industry Old Middle aged Young Industry Growth Little Moderate Strong Profitability Low
- 3. Medium High Concentration Concentrated Somewhat Spread Fragmented Life Cycle Mature Growth Emerging Importance Ambivalent Would Like Must Have Economic Impact Low Medium
- 4. High New Developments Low Medium High LT Prospects Weak Neutral Strong C. Assess the specific target market you plan to enter: Low PotentialModerate PotentialHigh Potential # of competitors Many Few None Target Growth Little
- 5. Slow Rapid Profitability Low Medium High Revenue Generation Unclear Somewhat Clear Clear Barriers to Entry Unable to create Maybe can create Can create Current Satisfaction Satisfied Ambivalent
- 6. Unsatisfied Guerrilla Marketing Low Moderate High Target Excitement Low Medium High D. Assess the specific window of opportunity: Low PotentialModerate PotentialHigh Potential Buying Mood None Moderate Aggressive
- 7. Momentum Stable to Down Slowly Gaining Rapidly Gaining New Entrant Need Low Moderate High Economic Low Medium High Recent Entrants Large Firms Entered Large Firms Rumored No entry/rumors ORGANIZATIONAL FEASIBILITY IV. MANAGEMENT/RESOURCE SUFFICIENCY Low PotentialModerate PotentialHigh Potential Passion
- 9. Team Creativity Low Moderate High CF Mgt. Exp, Low Moderate High College None Some Graduate Rate the following from 1-5 with 5 being the highest. · Office Space · Lab/Manufacturing/Service Space
- 10. · Outsource Providers · Key Management Employees (now and in the future) · Key Support Personnel (now and in the future) · Key equipment needed · Intellectual Property Protection · Governmental Support for launch · Favorable partnership/joint venture ability · Rate the following strong, neutral, or weak. · Proximity to similar firms · Proximity to suppliers · Proximity to customers · Proximity to major research facilities/universi ties if applicable FINANCIAL FEASIBILITY V. TOTAL START-UP CASH NEEDED TO MAKE THE FIRST SALE CAPITAL INVESTMENTS Property $
- 11. Furniture/Fixtures $ Computer Equipment $ Other Equipment $ Vehicles $ OPERATING EXPENSES Legal/Accounting/Professional $ Advertising/Promotions $ Utility Deposits
- 12. $ Licenses/Permits $ Prepaid Insurance $ Lease Payments $ Salary/Wages $ Payroll Taxes $ Travel/Trade Shows $
- 13. Signage $ Tools/Supplies $ Starting Inventory $ Working Capital $ Other $ TOTAL START-UP NEEDS $
- 14. VI. FINANCIAL COMPARISON ANALYSIS · Your projected sales compared to similar firms · Your projected net income compared to similar firms · Your break-even compared to similar firms · Your ratio analysis compared to similar firms VII. FINANCIAL ATTRACTIVENESS Low PotentialModerate PotentialHigh Potential 3 year rapid sales growth Unlikely Somewhat Likely Highly Likely Recurring income % Low Moderate Strong Forecast certainty Weak Moderate
- 15. Strong Finance growth internally Unlikely Somewhat Likely Highly Likely Exit opportunity Unavailable May be available Available VIII. OVERALL FEASIBILITY A. Product/Market FeasibilityOverall RatingSuggestions Not feasible __________ Unsure __________ Feasible
- 16. __________ B. Industry/Market FeasibilityOverall Rating Suggestions Not feasible __________ Unsure __________ Feasible __________ C. Organizational FeasibilityOverall RatingSuggestions Not feasible __________ Unsure __________
- 17. Feasible __________ D. Financial Feasibility Overall RatingSuggestions Not feasible __________ Unsure __________ Feasible __________ E. Overall AssessmentOverall RatingSuggestions Not feasible __________ Unsure
- 18. __________ Feasible __________ 1 |Page 1. Choose a company. (your choice/except Amazon) 2. Fill in the building model canvas with the three blocks for your company. Attach it to your paper. （Examples are at the end of the file） 3. Explain three building blocks in your own words and demonstrate at least one element or characteristic from the text for each block. Give me an example of how it works. 4. Make sure the blocks are under headings so there's no confusion. 1 Cover page, 1/2 page for the introduction 1/2 page for each of 3 blocks. (1 1/2 pages total) 1/2 page conclusion, 1 page canvas (as an attachment), 1 page for references. 15% - Introduce your chosen company briefly. After the introduction, give a thesis statement. In this paper/presentation, I will show you how the Blah blah company utilizes the nine building blocks to … 60% - In your own words, explain what each building block means to you. Give an example of the block. Show one
- 19. element/characteristic the company utilizes. Tie them in from the Scaling Up text to support your work if possible. You must show each chosen block on the canvas as it relates to your company. 15% - Conclusion – Does the company utilize the building blocks? Would you change anything the company does? What is your outlook on the building blocks? 10% - Grammar, APA & References (Example) Business model canvas of amazon, here are 9 building blocks.