A SWOT analysis helps you to focus on your strengths, minimize threats, correct or diminish your weaknesses and take the greatest possible advantage of opportunities available to you. On the one hand, your business will face obstacles to success in addition to those posed by the competition; half of the battle of overcoming these external obstacles is understanding them. On the other hand, your business will come across many opportunities; the key to benefiting from "lucky breaks" is being on top of developments and events that can be used to your advantage.
Strengths and Weaknesses (inside your company)
We help you to identify internal strengths and weaknesses of your company.
Strengths:
What advantages does your company have?
What do you do better than anyone else?
What unique or lowest-cost resources do you have access to?
What do people in your market see as your strengths?
For example, your education, experience and reputation in your area of expertise are most likely your strength.
Weaknesses:
What could you improve?
What should you avoid?
What are people in your market likely to see as weaknesses?
A weakness might be a lack of supervisory experience, if you plan to have employees.
Threats and Opportunities (from Outside)
We also help you to Identify and rank by order of importance opportunities that you are well placed to take advantage of . We will guide you to manage and eliminate any threats your business may face from outside influences . Threats and opportunities come from a variety of sources including: the economic outlook of your market's economy, product innovations, technological advancements, environmental issues, government regulations, and barriers to market entry.
Opportunities:
Where are the good opportunities facing you?
What are the interesting trends that are unknown to you?
What are the products or services that have the best chance to success?
Threats:
What obstacles do you face?
What is your competition doing?
Are the required specifications for your job, products or services changing?
Is changing technology threatening your position?
Are there high or low barriers to market entry in your industry?
Do you have bad debt or cash-flow problems?
We use the SWOT framework to review your business and your competitors, so we can start to craft a strategy that helps you distinguish yourself from your competitors, so that you can compete successfully in your market.
Call us at (519) 473 1391 or send us a note to sbms@sympatico.ca for further information
