Identifying the feasibility of your venture

I've always been a firm believe in the quote "It's not about the end result, but the journey." I realize that if you ask any person who accomplished anything of value, they will tell you that it is all about the journey - the trials and tribulations that they faced to get where they are today. This brings me to identifying the feasibility behind our venture. I realize the daunting task that is ahead of me.

I have a great partner in Amber. Whereas her strength lies in the "social impact" side of the venture, mine lies on the financial side. I have to determine how financially feasible our venture is. The problem with this is that we haven't even identified the market that we want to explore. There are so many markets which we feel our venture could potentially tap. This service could help:

• corporations - helping employees feel more comfortable around other employees of different race or religious background
• teachers - helping teachers feel more comfortable and understand more about students of different race or background
• parents - helping parents have those difficult talks with their children about interacting with other children with different ethnic, social... background

The list goes on and on!

I think for now it makes sense for us to focus on corporations, since they have the deepest pockets and should, in theory, be the easiest market to penetrate. Even knowing what market to tap into, it's extremely hard to determine the value that we could generate for various corporations. There are many factors that determine the value for companies:

• how much "racial bias" each company has
• what percentage of employees are from different backgrounds
• what percentage of interaction employees from different backgrounds have
• how large the company is
• how effective our service is and lowering "racial bias"

Looking at the factors above, it seems we need to derive a formula to determine the value that a one year subscription to our service can provide. Only once we determine how much value we can create for corporations can we even think about what price we can charge for this service.

I know we have a daunting task in head our group, but I know that our service can provide real value to people in the world and I'm very excited about starting this venture.