Market feasibility

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Question

Response and Assessment

(Please use your own words and full sentences)

Please formally define/describe your business idea within 50 words.

What is the estimate of market for your business idea? Try to consider the estimates of local/national/near market size. It is because most business ideas will unlikely reach the global audience immediately.

What is the estimate of growth rate in your key markets in the next 3-5 years?

Is there any strong evidence suggesting a need or desire for the product? Please elaborate.

Are there any concepts that are identical or similar to yours? Explain how you check it.

Who are your two main competitors?

What advantages do your idea have over the main competitors?

Is there space in the market where you can start without competing against a significantly larger competitor?

2. Technical feasibility

Question

Response and Assessment

(Please use your own words and full sentences)

What are the key technologies or technical expertise needed in this business?

Can you gain access to these key technologies and technical expertise? For example, do you have them or know where to find them?

Can you find the necessary people to manage and operate this business?

What are the top potential operational risks associated with this idea? Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events. List up to three risks.

What are the top potential legal risks associated with this idea? List up to three risks.

3. Financial feasibility

Question

Response and Assessment

(Please use your own words and full sentences)

Can we start the business with a reasonable amount of capital (e.g., $50,000)? Explain how you will allocate the first $50,000.

What would be the estimate of key fixed and variable costs for each of the first 3 years?

What would be the estimate of revenue for each of the first 3 years?

Do we know any friends and family who will be interested in investing in this idea?

4. Overall Assessment (Based on the preliminary analysis checks above, summarize your overall assessment on the feasibility of your business idea)

Question

Takeaway

Score

(1-5, 1 = very infeasible, 5 = very feasible)

Market feasibility: Is it the market real and munificent? Is there enough space for our business? Can we compete meaningfully in the market?

Technical feasibility: Do we have access to the key technologies and expertise to run the business? Can we pull together a group to run the initial business?

Financial feasibility: Can we start with a small amount? Is it worth doing? Can we generate reasonable revenue to cover cost or attract investment?

Sum of three scores and preliminary conclusion

If the total score is 3 – 6: Infeasible. We may avoid this business idea for now.

If the total score is 7 – 11: Moderately feasible. We may try this business idea.

If the total score is 12 – 15: Highly feasible. Let’s go and start this business.

 

Sample Solution

ee with Oberdorfer that Gorbachev is an important factor that led to the end of the Cold War because if he wasn’t in charge, things would have most likely carried out in the same manner as before. For example, the Soviet Economy would have fallen drastically even faster than it fell under his leadership, thus the big impact Gorbachev had through managing the economy in a better way than others, creating or enforcing relationships with leaders such as Reagan and being more active than previous members changed the outcome of the Cold War. After the demise of the previous leader, Chernenko, Reagan sent his vice president, Bush to the funeral to meet Gorbachev, the new leader who was going to induce “serious change” to the Soviet Union, and bring it out of “its long time troubles”. This positive perception did not become reality because of the breakup of the Soviet Union and the loss of power and control over the Eastern European countries, hence why we cannot ignore the vast importance of Eastern European countries gaining independence as the main cause of the end of the Cold War. Gorbachev’s leadership was not inadequate but, Levesque argues, when he needed to focus on the Eastern countries, he did the exact opposite and focused on the West. Moreover, he offered no financial support to those who wanted change in the Eastern European countries since the Soviet Union’s economy was rapidly declining as evident in the Soviets increased the price of oil exports. Therefore, it is quite apparent that the Cold War ended as a result of the lack of control the Soviet Union had over Eastern European countries.
Comparison:
Levesque has the most valid interpretation because the breadth of it is larger than Oberdorfer’s and Pemberton’s interpretations. Levesque ultimately argues that the Cold War’s end was a result of the Soviet Union’s sheer lack of control of Eastern European countries. His argument is articulate in exploring the reason of the end of the Cold War as well as exploring other contributing factors such as the Soviet economy and how its status was slowly dissolving the Soviet diplomacy and the impact of the Afghanistan War on them, which is further explored by Reuveny and Prakash. Therefore, Levesque’s interpretation is considered objective as he takes a holistic approach in viewing the majority of the factors that contributed to the end of the Cold War, then pinpoints the most impactful one- the lack of control of Eastern European countries and their attainment of independence. Similarly to Levesque’s interpretation, Pemberton and Oberdorfer touch on the Sov

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