Building My Own Business: A Feasibility Study
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My project was to conduct a feasibility study to examine whether or not my idea for a new business was possible. My idea was to open a discount, designer clothing store in DeKalb, Illinois. I began my study by defining and researching how to actually conduct a study and explaining the benefits and features of my products and services. Next I analyzed the industry in which my business would be operating. Third, I defined who my target market was and who my customers would be. Fourth, I conducted a focus group and reported the results. Lastly, I investigated how I would finance this idea and what resources I already possess. After taking all of these factors into consideration, I felt that my business idea was not feasible and that I would need to start this process over again until I found an idea that satisfied all of these conditions.