Fast Track or Back Burner?
Most nonprofits exploring earned income find they have many venture ideas, but only enough time to pursue one at a time. As a result, that idea really needs to be a good one. Some managers jump right into the first idea that comes to them. A better strategy is to figure out first which ideas are worth pursuing.
Feasibility analysis involves evaluating the relative strength of numerous venture ideas, and then assessing whether your organization will be successful pursuing a specific idea. This article offers a set of feasibility criteria to consider when conducting a feasibility analysis.