As with most things in life, preparation is critical. Knowledge allows for greater understanding, and control, over your situation. By conducting a feasibility study on the viability of a potential business venture, you are arming yourself with the tools you need to succeed.
A feasibility analysis will identify potential problems while making it clear if your business idea is a good one and if you should pursue it. We all know the saying about failing to plan and many entrepreneurs make the mistake of skipping this crucial step when embarking on a new venture.