Needs Assessments & Feasibility Studies
Fail early, fail cheaply. With only 20% of ideas being viable, needs/opportunity assessments and feasibility studies are good exercises to hedge your bets before diving into a new venture or program. Because we know the toughest part is often making the go/no-go decision, at Social Impact Architects we start with determining what is most important to the social sector organization (e.g., return-on-investment, impact, ease of operations). Once this step is completed, we conduct analysis at a high level of the market, competition and impact, and organizational fit. Based on the decision criteria, it is typically easy to determine whether the idea or venture is feasible.
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Nonprofit Opportunity Assessments can help you discover if a new program or idea will work at your nonprofit. Social Organization Feasibility Assessments should be part of your Nonprofit Business Plan.
Nonprofit feasibility assessments make nonprofit business planning easier. Nonprofit feasibility assessments give you more objective nonprofit decision-making criteria than nonprofit opportunity assessments.