Business Feasibility Studies are a necessary step for anyone with a new business idea or diversifying into a new range of services or product range. Not only are they a prelude to a business plan, which is necessary to raise funding for your new business, but they will also guide you through all of the steps you need to take to ensure that you have carried out sufficient research on the market for your product range or services to ensure that your business is commercially viable. Business Feasibility Studies provide entrepreneurs with a road map to enable them to make a decision on whether to proceed with the launch of the business or not. Making that decision on your own is very difficult, but necessary. Even if your current business idea is not found to be commercially viable, information and knowledge you have gathered during the process of a Business Feasibility Study may have given you other, more viable business ideas. This is often the case and a better outcome than falling foul to the statistics that 50% of companies fail in the first 4 years. And the primary reason so many start-up companies fail? A lack of research.
Through years of carrying out feasibility studies on her own business and training and advising hundreds of entrepreneurs and companies on Business Feasibility studies, Yvonne Scully has developed a very easy to use, organised method for working through the necessary stages of a Business Feasibility Study.
Yvonne works with companies in two ways: either in a group setting with other entrepreneurs in the format of a workshop working through the building blocks necessary to carry out a robust feasibility study. The entrepreneurs then work on this themselves and then revert to Yvonne with a draft Business Feasibility Study for review and advice on the next steps. Alternatively, Yvonne can work with entrepreneurs and companies on a one-to-one basis, working through the Business Feasibility Study with them and carrying out some of the research on their behalf.
Forthcoming workshops on Business Feasibility Studies are:
Yvonne Scully recently completed a Business Feasibility Study on a Food Market on the grounds of the Digital Hub, Dublin 8
Contact Yvonne Scully directly for one-to-one advice or consultancy on Business Feasibility Studies or for workshops for your business.