The Pre-Feasibility Study

The ultimate goal of doing the opportunity screening matrix is to narrow down the many opportunities into one or two most attractive ones. The next step is to conduct a pre-feasibility study to ascertain the viability of the opportunity. The idea is to focus on a few key items that could make or break the business concept. This time, the entrepreneur must go down to the details and take time to consider the following factors that are contained in a pre-feasibility study:

  • Market potential and prospects
  • Availability and appropriateness of technology
  • Project investment and detailed cost estimates
  • Financial forecast and determination of financial feasibility