The Property Solutions case illustrates a set of activities that is fundamental to the launch
of a successful entrepreneurial venture—determining if the business idea is feasible.
In David Bateman’s case, he didn’t commit to launching Property Solutions as a business
before he had a reasonable degree of certainty that the business idea itself was feasible.
He tested the idea by conducting surveys and hosting focus groups with both apartment
complex managers and apartment tenants. He further tested the idea by entering business plan competitions and by subjecting the idea, the potential market, the capabilities of
himself and his initial management team, and the financial aspects of the business to pan-
els of discriminating judges.1
In this chapter, we’ll discuss the importance of feasibility analysis and look at its four
key areas: product /service feasibility, industry/market feasibility, organizational feasibil
ity, and financial feasibility. Failure to conduct a feasibility analysis can result in disap-
pointing outcomes, as illustrated in this chapter’s “What Went Wrong?” feature (which
deals with satellite phones as a product offering).