How to read a feasibility study in 10 minutes

A feasibility study is not a luxury — it is your project's first line of defense against capital loss. For founders without a finance background, the key is to focus on five pillars in this order: 1. Market size & growth rate: Is the total addressable market (TAM) large enough to justify the investment? Look for compound annual growth rate (CAGR) above 5%. 2. Competitive positioning: Who are the top 3 players? What is your differentiated advantage? If you cannot articulate it in one sentence, pause. 3. Revenue model clarity: Where does the first dollar come from? Subscription, transaction, or project-based? Model three scenarios (pessimistic, realistic, optimistic). 4. Cost structure & breakeven: Separate fixed from variable costs. Calculate the breakeven point in units and months. 5. Risk matrix & mitigation: List the top 5 risks (regulatory, operational, financial, market, team) and assign an owner and a mitigation plan to each. If these five pillars check out, you have a strong signal to proceed. If two or more are weak, reconsider scope or timing before committing capital.