How to create a custom Opportunity-like workflow with stages history and funnel pipeline

Hi All, 

Would you be please advice if it's feasible to recreate the logic used for Leads / Opportunities and have a custom object with a workflow where stages history would be recorded and displayed in the sales funnel dashboard? 

How difficult such task would be and how to approach this? 

Any advice would be much welcome! 

Thank you!
Jacek