Chapter 4

Testing Feasibility

In This Chapter

arrow Making sure that you can find the product and the people

arrow Doing market research

arrow Checking out business viability

arrow Seeing whether you can make a profit

You need to decide whether or not starting up your own business is for you. Maybe you’ve reached a tentative decision on whether to go it alone or to join forces with others who have valuable resources or ideas to add to your own, and now you’ve the bones of an idea of what type of business you want to start, buy into, franchise or enter in some other way.

So all you have to do now is wait for the customers to turn up and the cash to roll in. Right? Wrong, regrettably. Although you’re beyond square one, you’ve a good few miles to cover before you can be confident that your big business idea is actually going to work and make money. This chapter gives you the right questions to ask to make you as sure as you can be that you’ve the best shot at success.

Finding Enough Product or People

The first test of feasibility is whether you can get enough goods to sell or enough people to provide the ...

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