 For
conducting a feasibility study, the entrepreneur
should pay attention to the next points and
steps:
First:
The entrepreneur/entrepreneurs should detect
some details about himself/themselves before
starting implementation phase, and these details
are:
- What are the experiences and the skills he
has/they have that could be of benefit to the
project?
- What are his/their personal motives which
guarantee the project’s success?
- What are the characteristics he has/they have
that will help him or them leading the project?
Therefore, one essential point is that the
persons participating in the project should be
perceived well, their skills (communication
skills, determination, supervision,
organization, accounting…etc.), their
characteristics (cooperation, eloquence,
sincerity, enthusiasm, punctuality…etc.), their
experiences and their educational levels. All
these elements should be clearly defined.
Second:
Studying the market, regarding:
- The characteristics of the market of your
commodity.
- Your market share.
- How can you sell your commodity so that you
have a market share
Third:
Conducting a technical study of the project,
regarding:
- The assets the project will need.
- The requirements of the intended commodity
production.
- The commodity' production phases.
In addition, a few more matters that are
connected to the technical aspect should be
recognized, like: the site intended for
establishing the project, water and electricity
accessibility, transportations, requirements of
machines and equipments, employees wages,
production phases…etc.
Fourth:
Conducting a financial study of the project,
regarding:
- Is the project' idea profitable or not
- The source of finance.
- The financial cost of the project.
In addition, a few more matters that are
connected to the financial aspect should be
recognized, like: the total cost of the project,
the monthly profit and the total profit,
financial tests for determining the project
feasibility …etc. | |
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