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Small Business Management "A feasibility analysis is a chance to open your eyes, ask yourself some very tough questions, then check to see whether your idea, as originally conceived, needs to be modified, refocused, or changed dramatically

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Small Business Management

"A feasibility analysis is a chance to open your eyes, ask yourself some very tough questions, then check to see whether your idea, as originally conceived, needs to be modified, refocused, or changed dramatically. (Or perhaps even scrapped altogether.)" (Abrams, as cited in Scarborough & Cornwall, 2015, p. 237).

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Overview

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With this assignment, you will be addressing the fundamental question: Does this business have profit potential?

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Instructions

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Referring to the same business you started or purchased in the first assignment, write a 3–4 page paper in which you:

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• Conduct a feasibility analysis in which you research:
  • Industry and market feasibility.
  • Product or service feasibility.
  • Financial feasibility.
  • Entrepreneurial readiness.
• Based on your assessment, does the business idea need to be modified, changed significantly, or abandoned? (Note: If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.)
• Include at least two references that don't include the textbook.
• Analyze a business plan to determine feasibility.