Critical Thinking : Scrutinizing Your Initial Draft Essay

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Critical Thinking: Scrutinizing Your Initial Draft With the knowledge of what is expected, and many of the big questions already answered, your summary business plan is probably well organized. The purpose of a feasibility study is to add more detail to your plan by doing targeted research to think strategically about the estimates, and discoveries you made in your summary business plan. Once you go through the basic method I present here, you can modify it to fit your methodology accordingly. As I mentioned earlier, it is easier to use the immediacy of Internet for all of your research, and skip doing laborious primary research entirely, but this can be a mistake. Doing primary research will make your idea better. Plus, this extra step will also give you confidence that the idea you picked will work. This objective is why a feasibility study is necessary. Of course, a feasibility study can be done before writing the summary business plan, or during, but there is a reason why I suggest you do it after. It is my belief that by freely sketching out your idea first, you will know whether it is worthy of extensive research before you commit to this time consuming task. There is no harm in using the feasibility study as a template instead. To start the feasibility study, list each of the following categories on a separate sheet of paper. “Product/Service Feasibility” “Organizational Feasibility” “Industry/Market Feasibility” “Financial Feasibility” These basic

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