Feasibility Study vs. Business Plan
Some common elements of a feasibility study for a telecommunications business are:
• Identification of Regulatory Issues,
• Cultural Differences (i.e. workplace restrictions, geographic differences and local customs)
• Technology Requirements (i.e. bandwidth, hardware and software)
• Competitive Landscapes
• Market Assessments
Conducting a feasibility study is a good business practice for assessing if one should proceed with the business before wasting valuable time and money. If you examine successful businesses, you will find that they did not go into a new business venture without first thoroughly examining all of the issues and assessing the probability of business success.
Below are other reasons to conduct a feasibility study:
• Gives focus to the project and outline alternatives.
• Narrows business alternatives
• Identifies new opportunities through the investigative process.
• Identifies reasons not to proceed.
• Enhances the probability of success by addressing and mitigating factors early on that could affect the project.
• Provides quality information for decision making.
• Provides documentation that the business venture was thoroughly investigated.
• Helps in securing funding from lending institutions and other monetary sources.
• Helps to attract equity investment.
The feasibility study is a critical step in the initial business assessment process. If properly conducted, it may be the best investment you ever made. If you are considering a feasibility study for a new market for telecommunication services, please contact me toll free at 877-593-2085 or email: info@nashawnbranch.com for a consultation.
Keep Achieving,
NaShawn Branch
Telecommunications Management Consultant
Address: 392 Dacus Drive
Munford TN, 38058
Toll Free: 877-593-2085 x701
Cell: (901) 215-7640
Email: info@nashawnbranch.com
www.nashawnbranch.com
www.nashawnbranch.blogspot.com (blog)
http://www.linkedin.com/in/nashawnbranch (LinkedIn)
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