Know-How Exchange : Other

Let me expand on my problem:

Let's say that I intended to manufacture lighting products - and leave it at that.

Now, I know that all kinds of things determine success, but what I seem to have learned is that success will depend on there being sufficient demand *for the actual product I offer for sale"*. I've got the notion that at some point I must get a sense of sales demand for the actual product I make and that's really what counts. If that's true, at some point I need to have designed a specific product. Of course that will be needed at least to physically manufacture the product.

Okay, so that's mentioned sales demand *with respect to the actual product*, which demand has to be sufficient, or there's no point in starting the business.

I also think about the Feasibility Study and wonder just what needs to be "fed into it" regarding the nature of the product.

I guess a lot depends on what the Feasibility Study is suppossed to "prove" and what "input" is needed for that.

Either I need to "input" a description of the actual product I want to make (not a generic description, but the very item) into the Feasibilty Study or that is not required at this point.

I worry that if I do not "input" the actual product into the Feasibility Study, then it's not much use doing a Feasibility Study. Because, is it not true, that in the end success, feasibilty in a way, depends on getting the actual product right - *and not just for reasons of sales demand*.

I guess this would be true *if* feasibility can only be determined knowing beforehand the actual product to be manufactured.

Again, what is a Feasibility Study suppossed to "prove"? If it has anything to do with demand then what demand? The demand of the actual product or in more generic terms? Issues other than demand I guess must be looked at (costs). Again, is it necessary that the actual product is described in the Feasibilty Study in other to test demand on the other issues?

I'm thinking that perhaps the Feasibility Study is *not* the same task as proving sales demand. Yes, at some point I will need to get a sales demand (or simply demand) figure for the *actual product*, but this comes after the Feasibility Study.

But, in thinking that, I have to say that not inputing a description of the actual product into the Feasibility Study is no detriment to establishing feasibility as to sales demand and costs and things.

This "problem" I have arises because I've got the notion, or the knowledge, that having a description of the actual product is at some point and for some reason, very neccessary. It's just that I am somewhat confused about whether this description needs to be in the Feasibility Study - or not. I vacillate in thinking it should, then it should not.

Of course a Feasibiilty Study looks at many issues. Does the reference point, regarding the product, have to be the actual product for sale? That's it in a nutshell. If not, the actual design description must come later, because we need sales demand for the actual product and other issues require knowledge of the actual product.

It could be that I'm asking: When and for what purpose is a detailed description of an actual product required?

It's obvious that it is needed to start manufacturing.

What is less obvious is, is it required for a Feasibility Study?

Well, it's not envisaged that the product is totally unkown.

What you seem to be saying is this, that unless you have designed pretty much the actual product (that would be the actual design) of a table lamp (say), the Feasibility Study would be seriously flawed. That you need that level of detail to establish feasibility in these circumstances. You need that detail before going on to create the set of detailed plans for manufacture, which you will eventually execute.

Is that what you are saying?

Anyone willing to say that in the circumstances you would have the very product you wished to make determined and feed that description into a Feasibility Study? And that is the way to get a meaningful conclusion as to go/no go?

Hi. Yes, I was talking to a friend last night how it's not uncommom for degree-trained experts to find it difficult to see the point if they have never tried to actually start up a business.

I'm not sure if this applies in this case or not, or whether I never quite explained myself correctly.

Anyway I think I've been able to answer my own questions (see next post)

As a budding business owner, I've been trying to get some sense of process in my business start-up planning. And during my thoughts on planning I've been rather confused about at what point should I produce a description of the actual product that I will offer for sale.

At length I've concluded:

At some point there needs to be a Feasibilty Study (F.S) before the whole set of detailed plans are made, before the business plan in fact.

In theory, you can feed into a F.S. either the specific product for sale or a more general description of the product.

You are likely to feed into the F.S. a specific product if you have an invention, or you woke up one day and saw a specific product that might make you money.

By specific product I mean a detailed description of the very item, in my case for instance a specific lamp design.

If you feed a specific product into the F.S., then you will have probably only "proved" that product in various marketing ways, such as it's colour etc, etc, and the level of demand and of course price etc. By logic, if you had also "proved" that you can actually make the product by looking at production costs, etc, you would have already done, pretty much, a F.S. So, anyway, here, the specific product is already "proved" in marketing ways before being fed into the F.S. The F.S. proves feasibility in other ways, not so much related to marketing.

But there is an alternative way. Here the product description you feed into the F.S. is "proved" for a catagory of product, not the very item. You do some marketing on a *catagory of product* prior the F.S.

When you do the F.S. in my case, the product description might say "interior lighting". Fed also into a F.S. are my conditions or limitations (say cannot afford more that $10K).

Given the product description and the limitations, or conditions I would produce two statements a bit like this:

CONDITION (RE PRODUCT) FOR FEASIBILITY
* Feasiblity is OK IF the lamp is (say) small.

CONDITION MET OR NOT
* Can you make a small lamp? Yes (In design)

You see here that the product description, plus my limitations or circumstances, produces IF statements related to whatever. In the above example, regarding the product design.

You do lots of the IF statements with the answers - and that is the output from the F.S.

Armed with this information you can then begin to design your specific product, which of course then has to be "proven" from a marketing POV. I believe you MUST "prove" the actual item for sale in marketing ways before doing detailed planning, probably before the business plan I think. Yes, I would think so. Here marketing "proof" of the specific profuct comes AFTER the F.S.

Anyway I believe in my circumstances it is best to design *the actual product for sale* AFTER the F.S.

I think I'm more or less right and now I can proceed knowing what I should be doing. If I'm making serious errors please let me know - anybody.

I hope this now makes more sense.

Please re-read my comments and you will see I have not questiioned your knowldege. Try to not take it all so personally.

All I ever asked, was do I need to have a product specifically described for the Feasibility Study or can it be nore general. Such as "Glitter lamp design 001" or "interior lighting".

I've figured both are acceptable.