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A feasibility study is a process that tests your idea's viability. It helps you to get a handle on whether your idea will fly or if it's likely to flop. Feasibility studies can also serve as a basis for creating a small business plan and a marketing plan, both of which you'll need going forward.
A business plan can take ideas from the founders, put them to paper and provide a roadmap to take action. Times You'll Be Glad You Have a Business Plan Any business hoping to raise funds, either with the help of loans or through venture capital, needs a plan.
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