Blessed Muskwe NC2 ict esd

Esd assignment

A feasibility business plan is a study of controlling your self-preceding to begin a business plan,
heather you are an established business launching a new product or individual with a new idea, a
feasibility plan is that part of a business that will help the owner of the of the business and the
investors determine if the business idea will flourish ,in the feasibility study you must regard the
following : competition with other business man, demand of the product, market as where you
going to sell your products and capital.

Before investing too much money into a business idea be sure, be sure that the business will be
sustainable business and there is no way to guarantee that the business idea will work before
done some market research which can help to be sure whether it can expect something
interesting on the investment .my business idea will also cover the costs of doing business and
produces a good outcome for the work.

It is important to be sure about how much money will be needed to make to pay the expenses,
keep possible staff employed and provide you with an acceptable wages.

Every business have competition so have to do anything to win it, the first step is to loot at your
likely competitors and find out what their respective competitive advantages are, and examine
their pricing and marketing strategies .looking at their websites and printed advertising material
and check if they have social media profiles to find out how they conduct with and market their
online.

Compare that the product or service will fill a need that they did not achieve yet, if there is, it is a
time to crunch some numbers to test if the idea is really viable

Potential demand is critical to whether your business will be feasible or not. is there sufficient
demand today Is there sufficient demand today and there is no demand and will check is there is
a chance that build demand over time, conduct some market research either through online
research or by setting up focus group with target customers, so i have to look at other location to
determine if there is demand for the similar products elsewhere

marketing, should really really have to know where to sell the products and knowing who will
buy them and what are you planning to offer, the success of the business should be decided by
what motivates the targeted market to purchase the products and services, need to ensure the
products and services appeal to the targeted market segment and find out how the large your
potential market is by researching the overall market size. Search for usd statistics for your
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industry.

Lastly, be cash savvy, it’s crucial for your business to have healthy cash flow. This helps ensure
you’re able to meet operating costs – and prevent a money crunch at a crucial time. Here are
some things to keep in mind that can help with cash flow:

You do not have to pay cash for everything your business needs to get up and running. Working
capital is a critical ingredient for funding your business until it becomes profitable. Look at other
ways you can finance capital, such as leasing.

Encouraging your customers to pay immediately, and in cash, is a useful approach. To encourage
cash payments, you might be able to offer discounts for paying with cash, or prompt payment
discounts.

Avoid allowing new customers to extend their credit terms. Make sure you check their references
and have systems in place to follow up on overdue debts quickly.

Have a chat with your bank manager or accountant to be sure your loan portfolio is balanced.
Assets with a short lifespan should be financed by short-term loans, while those with a longer life
need long-term finance.

By doing some research to check the feasibility of your idea, it helps to ground it, give you
realistic expectations and better ensure success. Crunching the numbers and assessing the market
opportunity are good indications of the business potential behind your idea. But, keep in mind
that new ideas might take some creative thinking to make them work. We recommend talking to
other business owners, a small business specialist or a mentor to help get your idea off the
ground.

by doing some research to see the feasibility of the business idea ,it helps to ground it and it will
gives you direction and realistic expectations and success, assessing the market opportunity is
good indications of the business potential behind your idea and you have something in mind that
new ideas might take some creative thinking to make them work.
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REFERENCES

1). Justis, R. T. & Kreigsmann, B. (1979). The feasibility study as a tool for venture
analysis. Business Journal of Small Business Management.

2). Georgakellos, D. A. & Marcis, A. M. (2009). Application of the semantic learning

approach in the feasibility studies preparation training process. Information System
Management.

3). Young, G. I. M. (1970). Feasibility studies. Appraisal Journal.

4). Feasibility studies as a tool for successful co-operative business enterprises "(A case
study of the importance of Feasibility students to co-operative investment)".

5). Mesly, Olivier. (2017). Project feasibility – Tools for uncovering points of vulnerability.
New York m, NY: Tailors and Francis