If you're looking for inexpensive ways to test your ideas before you launch a new product or service, a number of new software packages and data sites now exist that can help you determine how a new product or service or line extension will fare before you make that final leap. These programs can help you in every phase, from the analysis through to determining the right markets. It is even possible to have others vote online and give you feedback regarding your idea.

It's something that can be done quickly and inexpensively, and there are a number of resources, each of which can help you asses a different need, to help make the task easier and faster. Check out the following sample resources:

• Feasibility Analysis Pro by Palo Alto Software (available at amazon.com) is a step-by-step guide and an easy-to-use tool that shows how to get feedback from potential users of your product or service and how to gather data.
• Bizminer.com collects, analyzes, edits, evaluates and publishes data and delivers it (for free) in an easy-to-read, easy-to-understand format.
• BizStats.com publishes 2.5 million online industry trend reports which can help you benchmark your business idea.
• Cambrian House uses “crowdsourcing” to get online opinions and ideas and then has users vote on the ideas they think should be developed.
• Method123 offers a feasibility study template that includes practical, real-life examples and tables for help with writing up the feasibility outcome.
• Spigit.com is a contest platform for getting your idea evaluated online by users.

A feasibility analysis will help you increase your chances for success. These tools can assist you in analyzing your idea, your marketplace and your management ahead of time and identifying any pitfalls before you invest time and money in developing something new.