From Business Idea to Entrepreneurial Opportunity | Feasibility Analysis Explained

A business idea is not automatically an entrepreneurial opportunity. The critical question is whether evidence supports committing resources to it. This video explains how entrepreneurs identify, interpret, test, and evaluate opportunities before launching a venture. It covers opportunity sources such as technological change, social trends, regulation, customer problems, market gaps, prior knowledge, networks, creativity, and entrepreneurial alertness. The video also compares the Kirznerian discovery perspective, Schumpeterian foundations of opportunity creation, and Ramoglou and McMullen’s actualisation perspective using the ABC model. Students learn how to distinguish facts, assumptions, unknowns, and critical assumptions when making decisions under uncertainty. The second part explains feasibility analysis across four areas: product or service feasibility, industry and target-market feasibility, organisational feasibility, and financial feasibility. The video also explains the evidence ladder from customer opinion and stated intention to actual behaviour, payment, and repeat use. Suitable for undergraduate and postgraduate students studying entrepreneurship, entrepreneurial management, opportunity recognition, startup validation, business models, and new venture creation.