Venture Screening

Venture Screening

Introduction

A large number of business ideas are not able to put into practice because the entrepreneur does not spend considerable time and effort into validating his business idea. Venture inventory screening allows the entrepreneur to use a streamlined approach for determining the likelihood of the successful implementation of the business plan. This analysis allows the entrepreneur to determine if he should move ahead with the business idea or make necessary adjustments. This essay aims to perform an inventory screening analysis of my business idea which involves establishing online shoe store targeting the youth in the United States.

Discussion

The inventory screen would comprise of the various steps and techniques that could be used to access the likelihood of achieving value for the customer. This would result in creating revenues for the company as more people would start buying the products offered by the company. The inventory screening would involve the following assessments.

Feasibility and Scalability

This analysis would call into question the economic, social and political feasibility of the business idea. Since, my idea is to import shoes from China after collecting orders from customers. The technical feasibility of the company would be determined in addition to conducting a thorough competitor analysis as well as environmental analysis. The trade relations between China and United States would play a critical role in determining the feasibility of the business idea. Moreover, a good business idea should be subjected to growth and scalable to accommodate for increase in the future. This would require an analysis of the ability of the business to allow the entrepreneur to access new business opportunities. Since, the business would be relying on an online website; it is likely to attract a number of customers with different business preferences. Therefore, the business can easily be scalable based on the number of ...