Feasibility vs. Pre-feasibility

Nimit Ramaiya

10/25/20231 min read

I'm often asked about the nitty-gritty of feasibility studies, and let's face it, the lingo can get a bit confusing. So today, let's dive into the basics: Feasibility vs. Pre-feasibility.

πŸ” Feasibility study: Think of this as the deep dive into the project's soul.
It's the Sherlock Holmes of studies. We're talking detailed market analysis, technical analysis, financial projections, and the whole shebang. It's your crystal ball, revealing if your grand idea can stand the real-world test.

πŸ’‘ Pre-feasibility study: Now, this is the sneak peek, the movie trailer before
the main event. It gives you a quick snapshot of your project's potential.
You're sizing up the competition, getting a feel for costs, and deciding if
it's worth a full-scale feasibility extravaganza.

🌟 Why bother with both? The pre-feasibility study is your project's
reality check. It's like dipping your toes in before the cannonball. If the
numbers and vibes align, then unleash the full-blown feasibility study for a
complete project blueprint.

πŸ‘©β€πŸ’Ό For Entrepreneurs: Don't skip the pre-feasibility stepβ€”it's your project's litmus test. It saves time, money, and heartache. Think of it like a relationship status: it's complicated? Get the pre-feasibility clarity.

Both studies are your compass in the vast sea of business. They're your early-warning system, ensuring your venture sails smoothly.