An important factor in starting a business is the financial feasibility. You may have an idea for a business you would like to start, but if this business is not financially feasible, it may not be worth your time, money, risk, or stress.
In his latest video ASBTDC Consultant, Scott Lacy walks you through how to conduct a feasibility test on your business idea. Financial feasibility is so important because it forecasts the business’s return on investment (ROI). By assessing the startup costs, operating expenses, and cash flow of your business you will be able to understand if your idea is financially viable.
Watch the video below to determine if your business idea is financially feasible. If you would like help conducting your feasibility test, schedule a free consultation today.