We employ five steps is carrying out a feasibility study:
Step 1: Answer three questions
1. What are your ideas?
Translate your idea into Product and Market Concept (PMC).
2. Are you Mr. or Mrs. MAN?
• Money = you have money to invest
• Authority = you have the authority to decide
• Need = you need outside help
3. Which professional assistance do you seek?
• cost of goods calculation - can you make a profit?
• improved processing technology
• machinery and equipment
• training and technical assistance
• investment capital
• market access