We are using a unique methodology of assessing the feasibility of your product or project. Mixing the traditional steps of conducting feasibility analysis with cutting-edge online technologies that allow us to check the technical, economic, legal, operational and scheduling feasibility of your product or project. Our team will tailor each feasibility study to suit your needs, timeframes and budgets.
Why use a feasibility study?
When starting a business or considering a new product/service in your existing business one of the most important steps is to do a feasibility study. Performing a feasibility study will provide you and potential investors with accurate information whether your product/service is viable and has the potential for success. Feasibility studies help decision makers avoid taking unnecessary risks and costs by providing them with critical information.There are 3 main questions that a feasibility studies answers:
Testing the technical, financial and marketing aspects of the product/services your start-up offers. Used as validation of your business idea and base for the development of your business plan. It will help you further define your business model and scalability potential, and provides investors with accurate information to make informed decision regarding your business.
Risk Assessment and Solutions
Analyzing whether the company possesses the technology needed for the development of the product/service. It also assesses if the team has the technical skills and capabilities for developing and maintaining the product/service.
Control Efficiency and Services
Analyzing how well the proposed product/service solves the problems it is supposed to solve, and takes advantage of the opportunities identified during scope definition
Analyzes what will be the cost for development and determines if the proposed product/service will be economically viable. It typically involves the performance of a cost-benefits analysis.
Analyzing barriers of legal implementation of project, data protection acts or social media laws, project certificate, license, copyright etc.
Tests the feasibility of the set deadlines for development of products/services and the impact on the company in case of non-completion. Resource allocation and optimisation.
There are 3 main questions that a feasibility study answers:
Is the product/service technically feasible?
Is the product/service feasible within the given budget?
Is the product / service profitable?
Conducting Feasibility study provides multiple benefits for your business including:
Professionals at your service
Saves time and resources
Narrows down business alternatives
Enhances success rates
Provides Investors with accurate data
Outlines areas of concern
Identifies potential funding / revenue sources
Results can be used to prepare development plan and budget
Contact us to learn
how we can help your company test the feasibility of your new product or service!