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Describe the process of assessing entrepreneur feasibility.

Describe the process of assessing entrepreneur feasibility.
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Answer #1

Following is the process of evaluating entrepreneur feasibility

  • Demand: The first step is to be sure that there is enough demand for what one is offering. Potential demand is critical for the business to be sustainable. Hence it is important to find out if there is or there isn't any demand currently or expected in the future.
  • Evaluate the size of the targeted market size. The product/services on offer must appeal to a segment of significant size
  • Competition analysis in terms of who are the rivals, what are they offering, what are their capabilities and what are their strategies
  • Financial analysis to understand the expected investment, source of fund, time and rate of returns
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