Part 3: Organizational Feasibility

Part 3: Organizational Feasibility Issues Addressed in This Part A.    Management prowess B.    Resource sufficiency Assessment Tools Management Prowess •    Use the following table to candidly and objectively rate the “prowess” of the founder or group of founders who will be starting the proposed venture. Management Prowess Assessment Tool Low Potential     Moderate Potential     High Potential 1.    Passion for the business idea    Low    Moderate    High 2.    Relevant industry experience    None    Moderate    Extensive 3.    Prior entrepreneurial experience    None    Moderate    Extensive 4.    Depth of professional and social networks    Weak    Moderate    Strong 5.    Creativity among management team members    Low    Moderate    High 6. Experience and expertise in cash flow management     None    Moderate    High 7.    College graduate No college education    Some college education but not currently in college    Graduated or are currently in college Resource Sufficiency •    The focus in this section is on nonfinancial resources. Use the following table to rate your “resource sufficiency” in each category. •    The list of resources is not meant to be exhaustive. A list of the 6 to 12 most critical nonfinancial resources for your proposed business is sufficient. An explanation of the rating system used in the first portion of the table is as follows: 1    Available 2    Likely to be available: will probably be available and will be within my budget 3    Unlikely to be available: will probably be hard to find or gain access to, and may exceed my budget 4    Unavailable 5    NA: not applicable for my business Resource Sufficiency Assessment Tool Ratings    Resource Sufficiency 1     2     3     4     5    Office space 1     2     3     4     5    Lab space, manufacturing space, or space to launch a service business 1     2     3     4     5    Contract manufacturers or outsource providers 1     2     3     4     5    Key management employees (now and in the future) 1     2     3     4     5    Key support personnel (now and in the future) 1     2     3     4     5    Key equipment needed to operate the business (computers, machinery, delivery vehicles) 1     2     3     4     5    Ability to obtain intellectual property protection on key aspects of the business 1     2     3     4     5    Support of local and state government if applicable for business launch 1     2     3     4     5    Ability to form favorable business partnerships Ratings: Strong, Neutral, or Weak Proximity to similar firms (for the purpose of knowledge sharing) Proximity to suppliers Proximity to customers Proximity to a major research university (if applicable) Conclusion (expand fields and report findings, in discussion form, for each area) A.    Management prowess B.    Resource sufficiency C.    Organizational feasibility (circle the correct response) Not Feasible                                         Unsure                                        Feasible D.    Suggestions for improving organizational feasibility