Feasibility Study: A must for a Business Student

"Have you ever tried to hire someone for an outsourced cleaning service?" This is my first statement, asking my professor regarding about our study. Doing a feasibility study is not easy but finishing it, is refreshing of why did i chose business as my course. Learning through out the unexpected events helped me to pushed through, like doing activities outside the school and making extra curricular activities. I might not be academically inclined person inside the classroom but the institution taught me to be obedient and kind, i look differently in the situation and most importantly the school encourage me to be an optimistic.  

Around second week of July when we meet our professor (who used to be our director and professor from other minor subject) and gave us instruction of what business idea is inside our head. Well, i want to have a graphic studio, a mobile cleaning service and a nerd cafe. I chose those ideas because those are businesses that i'm seeing myself in the future. Then after, our professor decided to pick one out of our three idea from 37 students, so currently there are 111 ideas in her hand (amazing!) so she picked some ideas that she is interested into, regardless if its viable or not. Luckily, my mobile cleaning service caught her attention and i became the team leader. 

For the first meeting of the team, i delegated the work. I told them to research about information abroad and locally regarding the cleaning service industry. Why? I wanna know if the cleaning service industry is growing sustain-ably, making it marketable and viable locally and abroad. It is difficult to make a marketing study, first as a team leader i failed to make follow ups for the information needed, they become dependent for my instruction, task that are intended for them to expand what they have learned through out our academic program. I want them to know more about what they have learned. Secondly, doing business proposal is not as easy as what other courses thought - it is associated with black coffee and coffee with cream, i have to make sure that the data we will use is usable and reliable. Lastly, changes happen every other time when we consult for the progress of our business idea in marketing study. It is difficult, because every changes do have a long lasting effect and minor details turned out to be monster when consultation happen again - having a domino effect, making the business idea like a puzzle with a missing piece. 

What have i learned through out the feasibility study:

1. I learned to accept idea and accept rejection.

Even though most of the time, i do the feasibility study alone. I asked them to give idea to expand the business proposal. As a team leader you have to remind them hundred of times about their participation because we have to understand that all of us do have their own priorities and for my members feasibility is in the last portion of the list. No matter what is the reason of their excuses, i'm sure they do have an idea behind their mind and surely its quite tricky and unique, so i have to make sure it will be part of the marketing aspect. When they have an idea, i have to make sure that it is still aligned with the vision that i'm seeing as a team leader, i have to accept the idea. For the proposal, it is not as Lucky-Monday everyday, most of the time you always encounter rejection because they do have their own ideals toward your proposal, sometimes they are pushing what they knew and it is difficult to convince them because they do have their own criterion toward your idea but you have to be firm and strong. 

2. I have to increase inner peace, Find your friends and ask for help. 

I usually asked my friends like Mark and Andrea regarding the progress of the study, i asked for helpful tips and suggestions, constructive criticism and other reactions toward the study. Speaking with your friends give you inner peace - what you are doing is in track of making it good and asking for professional like your accounting & management professors making it to feel better. You have to learn that finding inner peace is not about people affirming your idea but about giving you guidance and assistance on making the framework in greater heights.

3. I learned to ask "why" and "how"

I learned that doing feasibility study is not just about making a business proposal. It should be anchored by why you need the business, why is it the business important and how can we make a change using that business. We have to learn that making a feasibility study is not just for completion but your professor is asking you to do a business that you can apply what you have learned through out the program. A business idea that you can make a relative framework of all the things that you gone through college. Yes we did feasibility when were first year college or even high school but your 4th year college feasibility study is different because what you typed and all the things you wrote is actually your college story as a business student.

Helpful tips:

You have to make sure that your business idea is what you are passionately about, i love meeting people and cleaning our house (so why not?) it is easier for you to wrap everything inside-out of the business. Maybe you'll gonna say "because you were the team leader, your idea was chosen" Yeah! that was my first ever opportunity that someone hitch my idea and i put myself into it but before i'm like you sitting and listening to what other says, yes i'm a member before and what have i learned "a leader is once a member that learned to speak." you have to step up.

Team "House Maids Cleaning Services"

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Feasibility Study: A must for a Business Student

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