Entrepreneurship: Successfully Launching New Ventures, 2/e Bruce R. Barringer R. Duane Ireland. Chapter 3. Case Study. FAD incorporated on 14 February 2005 authorized capital of RM5 millions and paid-up capital of RM1,172,000.
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Bruce R. Barringer
R. Duane Ireland
Ask QUESTIONSto determine basic appeal:
Does it take advantage of an environmentaltrend, solve a problem, or take advantage of a gap in the marketplace?
of an idea – 3D got an advantage – all sides
can be viewed
with a short survey attached to gauge customer interest. Online or offline…
is a detective or an investigator -
asked around for information or clues wherever they can be found.
Ask people what they think about your product or service idea.
Idea = to sell educational toys- spend a week volunteering at a day care center and watch how children interact with toys.
Although criteria shown is an ideal list - should satisfy these criteria and be taken seriously.
How It Is Conducted
Original and is collected by the entrepreneur
Probes data that are already collected
Nature of Product or Service Introduction
Improvement on something already available
Breakthrough- should establish a new market segment
Financial Factors Associated With Promising Business Opportunities
To test resource sufficiency, a company should list several most critical nonfinancial resources - needed to move business idea forward successfully.
Role of feasibility analysis in developing
business ideas – analytical, systematic thinking