For new projects (Industry Agnostic) entering a new market, it is imperative to perform a ‘Feasibility Study’. We offer the below services as individual modules or as a complete package.
For our analysis, we apply the “Dimensions of Business Viability” framework (Thompson 2003c; Thompson 2003a).
This consists of six segments:
- Market Viability
- Technical Viability
- Business Model Viability
- Management Model Viability
- Economic and Financial Model Viability
- Exit Strategy Viability
A high-level description of the external market for the product/service is considered. This includes understanding the product’s market share in the existing markets and using this information to analyse the new markets.
It may describe the target market segment, who the competitors are, how products will be distributed, and why customers might choose to buy our products/services.
Marketing and Sales Strategy
A high-level description of the technical aspects of the product/service is considered. It explains any changes the organisation should make with regards to their technology.
Product or Service Description
Intellectual Property Description
Business Model Viability
A high-level description of the business model of the product/service is considered. This section includes some targeted milestones and timeframes for completion (as a guideline).
Project Implementation Schedule
Management Model Viability
A high-level description of the management model of the product/service is considered.
With the growth of new products/services there may be a need for additional staffing, or an organisation may choose to restructure to accommodate this change. These are important considerations as they could increase costs or require the organisation to change its practices and processes.
Management and Personnel Requirements
Economic and Financial Model Viability
A high-level description of the economic & financial models of the product/service is considered. We generally prepare a narrative highlighting the underlying assumptions and the logic governing the client’s financial projections.
This includes financial history, if any (e.g., equity and debt), and likely financing stages with information about funding sources and uses.
Critical Risk Factors
Capital Requirements & Strategy
Exit Strategy Viability
A high-level description of the options available for a new project (product/service) is considered, in case of a failure. Examples include internal characteristics, uniqueness, investment, economic forecasts, change in regulations and technical obsolescence, etc.