We are pleased to announce that NextGen Electric has been chosen by the Missouri State Small Business and Technology Development Center (SBTDC) for participation in a Feasibility Study project with their Entrepreneurship class for the Fall 2018 semester.
The Feasibility Study is a semester-long partnership between Missouri State University’s SBTDC and Entrepreneurship program, in which undergraduate students will fully evaluate NextGen Electric's business concept(s) to determine if they are feasible. Through this experience NextGen will gain a great understanding of the industry, local market, and financial operations of the business. With the assistance of the SBTDC, students will work with NextGen Electric to research and analyze the business idea(s) allowing the students to work with real clients and bring their academic work to life. Working with a number of students brings forth ideas and suggestions not previously thought of, providing a benefit to both the students and to NextGen Electric. The vast amount of research provided by the students also serves as a great foundation for developing a detailed business plan.
At the end of the 16-week semester, each client is presented with a (50 page!) physical and electronic report from each of their student groups that includes a business overview, market assessment, operations and management assessment, financial assessment and feasibility study decision. You can view the Feasibility Study flyer with more details as to what is included in each section. NextGen Electric will receive an electronic copy of all research materials used in the study (reports, articles, surveys, etc.), such as industry trends, demographics of target market, and traffic counts. Finally, the student groups personally present their findings to NextGen Electric.