15 Aug Feasibility Analysis
Referring to the same business you started or purchased in the first assignment, write a 3–4 page paper in which you:
- 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.)
- Find three examples of bootstrap marketing strategies. Next, develop a bootstrap marketing idea that will help promote a small business at a minimal expense. Be creative and thorough in developing the idea for this implementation.
- Identify a type of business you would like to own. You determine that you do not need external financing for your business. Discuss why you should write a business plan and select one element in the plan that you think will be the most difficult for you. Next, identify three techniques you can use to overcome the challenges. Justify your selection of these techniques.
