Is it necessary to conduct a business feasibility study?

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A business feasibility study is a research and observation activity about a new business that is about to be operated with the aim of determining whether the business is feasible or not. So when a businessperson applies a business feasibility study, it will focus on identifying potential problems and finding solutions to problems in the business so that the business can run for the long term and can also avoid losses. So, in your opinion, what is the purpose of a business feasibility study?
 
I think this is to find out if the business is flexible enough, the market is constantly changing, and a business needs to be flexible to be able to adapt.
 
A business feasibility study helps the businessman find a guarantee that his business will be accepted by the people in the community. He has to raise questions regarding the possible results in hs study regarding the SOS of the prospective customers.
 
Once you have a business idea and am thinking of starting a business, you should conduct a feasibility study. A feasibility study is an assessment of the practicability of your product idea. You should consider the technical, financial, legal as well as operational aspects.
 
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