Entrepreneurs dream. They create visions in their heads of how something can change peoples lives. They are creating ways to improve upon an existing product or service or fill a market need by creating something not thought of before.
Getting that idea from your head to reality requires significant time, money, and other resources.
Before an entrepreneur can move forward, they need to assess the feasibility of the idea and determine its potential as a viable economic opportunity.
The Business Clinic coaches clients to develop their feasibility study which provides the client the necessary information to determine whether to proceed with their business idea.
The result of this process is a feasibility study which answers three fundamental questions.
- If I build it, will they come? Is there significant market that demands my product or service?
- Do the financial requirements make sense? Can the business generate enough profit to recover the start-up capital requirements in a reasonable time?
- Are the resources needed for success available? Do I as the entrepreneur have the right skills, can I acquire additional skills needed for business by partnering, hiring, or learning.
The Baldwin-Wallace Entrepreneurship Center works with the Civic Innovation Lab to help prospective clients develop the feasibility requirements prior to the entrepreneur presenting to the Civic Innovation Lab advising board.
275 Eastland Rd.