We will be happy to use our know how to support you in starting up your business and planning for the future on an individual basis that is accurately aligned to your needs. One of the tools that is suitable for this process is known as SWOT analysis, which is a strategic planning methodology. The goal is to help you to identify and emphasise your own strengths, and to help you to overcome your weaknesses.
SWOT analysis is an important element of the business plan, particularly during the start-up stages. Existing businesses can also benefit by using it as an effective tool to check and validate the business model.
SWOT analysis chart:
Strengths – internal analysis
- To which causes should past successes be attributed?
- What are the chances
- What opportunities are available to the business in future?
- What opportunities for potential synergies are there, which could be used more effectively by following a new strategy?
Weaknesses – internal factors
- What weaknesses should be ironed out, and what should be avoided in future?
- Which products have particularly weak revenue?
Opportunities – external factors
- What options are open to the business?
- Which trends should be followed – and which should be ignored?
Threats – external analysis
- What difficulties is the business likely to face, in view of the macroeconomic position or particular market trends?
- What is the competition doing?
- Will the rules and standards that apply to jobs, products, or services change in future?
- Could technological change threaten the business’s position?