Why is Technical Feasibility Important in Entrepreneurship?
For entrepreneurs, evaluating technical feasibility is essential for several reasons:
Risk Mitigation: Identifying technical challenges early can help mitigate potential risks before significant investments are made. Resource Allocation: Understanding technical requirements ensures that resources are allocated efficiently and effectively. Investor Confidence: Demonstrating technical feasibility can boost investor confidence and increase the likelihood of securing funding. Strategic Planning: It helps in formulating a more accurate and realistic business plan and timeline.