Ideation & the Feasibility of Your Business Concept

The step prior to developing a business plan is determining if your idea is market, technologically, financially, and operationally feasible. The business planning process includes fully developing the concept surrounding your product and/or service line. This includes research, surveys, and other means of qualifying your idea as market ready. Businesses need a sufficient number of willing and able buyers who buy on a regular basis. Our business ideas must be feasible from an operations standpoint meaning we must be able to produce and deliver the product to the specifications and by the means our customers desire. Our ideas and our processes for producing and delivering our product and/or service must be technologically feasible by your production and delivery process and meet the technological needs of customers. Of course, all of this comes down to whether or not our ideas and concepts are financially feasible and whether they have their place in the market. Crowded markets mean we have to do more to compete and even more to shine over the competition (competitive advantage). That’s how we get to a sufficient number of willing and able buyers who buy from us on a regular basis. We must be able to offer the right product to the right customer at the right time by the right means and with the right information and messaging to the customer. In this series of classes we will work on these areas to ensure your idea meets what the market demands and is adaptable for future market needs.

Speaker(s): Sharon M. Styffe

Co-Sponsor(s):

Zoom link to be sent to registered participants prior to first session. For more information or for questions on the Zoom link, please contact sharon_styffe@davidsondavie.edu.

Fee: No Cost