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it is about how market is doing, reacting to some actions based on these data's we forecast the future and take the resultant in the form of positive or negative that called the feasibility.
Your new business or project will burn to the ground if you failed to complete a correct comprehensive feasibility study.
Let’s say you want to bake some cookies and sell them.
Your feasibility study will be as follow:
First you need to know how many other cookies baking ladies are in your area, how long they have been doing it, how much they are selling their cookies, and what type of cookies they are selling, how many people in your areas likes cookies and what kind of cookies they like, will there be more people moving into your area, and will there be more ladies baking and selling cookies; will you offer a new kind of cookies, and will the people in your area like these new cookies; can you sell your cookies on line …….that’s market analysis.
Second you have to find out how much it will cost you to bake these cookies, how much flour you will use, how much butter, how many eggs, pots, pans, water, heat, electricity, packages, your time, and the time of your helpers and the delivery cost, and much more items……… that your cost (operating cost).
Third you have to know how much you might be able to sell (from your market analysis data); if your total sales in a month is less that what you spend on making these cookies, then you know your cookie selling business will not make you rich, it will only makes you tired, stressed, and miserable; or on the other hand, if your total sales is much more than you spent, then you will become the cookie queen.
So you see, without feasibility study (or profit/ loss predictions) you are just baking cookies in the dark.
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