LEGAL APP FEASIBILITY ANALYSIS
Introduction ■ Name of the proposed business ■ Name of the founders ■ Summary of the business
Service Feasibility Service desirability: concept stamen test ▪ 10 people answer our survey ▪ Innovative and good idea ■ New idea: Hire an Accountant ■ Feasible idea
Service Demand: Buying Intention Survey
Suggestions for Improving Service Feasibility ■ Implement a segment specialized in MYPES ■ Emphasis in tax matters
Industry Attractiveness ■ Number of competitors ■ Age of Industry ■ Growth rate of industry ■ Average net income for firms in the industry ■ Degree of industry concentration ■ Stage of industry life cycle ■ Importance of industry’s products and/or services to customers ■ Number of existing new product and services emerging from the industry ■ Extent to which business and environmental trends are moving in favor of the industry ■ Long-term prospects
Industry/Market Feasibility ■ Number of competitors in target market ■ Growth rate of firms in the target market ■ Average net income for firms in the target market ■ Methods for generating revenue in the industry ■ Ability to create “barriers to entry” for potential competitors ■ Degree to which the customers feel satisfied by the current offerings in the target market ■ Potential to employ low cost guerrilla and/or buzz marketing techniques to promote the firm´s product or services ■ Excitement surrounding new product/service offerings in the target market
Timeliness of entry into the target market ■ Buying mood of customers ■ Momentum of the market ■ Need for a new firm in the market with your offerings or geographic location ■ Extent to which business and environmental trends are moving in favor of the target market ■ Recent or planned entrance of large firms into the market
Part 3: Organizational Feasibility Management prowess: 1.- Passion for the business idea 2.- Relevant industry experience 3.- Prior entrepreneurial experience
4.- Depth of professional and social netwok 5.- Creativity among management team members
6.- Experience and expertise in cash flow management 7.- College graduate
Financial Feasibility Total start-up cash needed