6a-1e Product/Service Development Analysis Explanation: Before going any further with a conceptual idea, the entrepreneur must...

  

Transcribed Image Text:

6a-1e Product/Service Development Analysis Explanation: Before going any further with a conceptual idea, the entrepreneur must determine whether the concept has any practical feasibility. One of the most important questions in this section of the feasibility analysis would be: "What unique features distinguish your product/service?" The more unique the features of a product or service, the better chance the business concept has of being successful. < 6a-1f Financial Analysis Explanation: Summarize the critical assumptions upon which the financial information is based; in other words, show how the numbers have been derived. A pro forma income statement and a statement of cash flows are the two most critical financial documents to add here-even though they may include preliminary outside sources needed to get some idea of the generation of revenue and the cash position of the venture during the first three years. If possible, provide a break-even analysis to demonstrate where the venture moves from survival to growth. 6a-1e Product/Service Development Analysis Explanation: Before going any further with a conceptual idea, the entrepreneur must determine whether the concept has any practical feasibility. One of the most important questions in this section of the feasibility analysis would be: "What unique features distinguish your product/service?" The more unique the features of a product or service, the better chance the business concept has of being successful. < 6a-1f Financial Analysis Explanation: Summarize the critical assumptions upon which the financial information is based; in other words, show how the numbers have been derived. A pro forma income statement and a statement of cash flows are the two most critical financial documents to add here-even though they may include preliminary outside sources needed to get some idea of the generation of revenue and the cash position of the venture during the first three years. If possible, provide a break-even analysis to demonstrate where the venture moves from survival to growth.

Answer rating: 100% (QA)

6a1e Product analysis involves examining product features costs availability quality appearance and ... View the full answer