SWOT Analysis
What are your Srengths and Weaknesses?
What are your Opportunities and Threats?

What is a SWOT Analysis you may ask? This is the next step of the Strategic Business Planning process. It is an internal marketing process, also known as an Executive Summary, which does a SWOT. This focuses on your Strengths and Weaknesses and looks at your Opportunities and Threats

INTERNAL MARKETING

Here we are going to identify your skills, capabilities, experience and resources that will thus establish your competitive advantage. A SWOT for your business. This exercise will also highlight your weaknesses and potential threats that can be looked at improving.

The questions we will be asking in this section are:

• What are the businesses strengths?
• What are the businesses weaknesses?
• What skills, capabilities and resources give your business the competitive edge?
• Why will you be getting the customers and not your competitors?

This looks at what your financial position is like. Do you have access to finance or do you owe money? Is your financial status strong or weak?

What are your personal skills?What experience do you have? What would your proposed/existing business do well in?

What assets do you have or need?What are your intangible resources?

By analysing your resources, skills, capabilities, experience etc. you should start to see what strengths you have and what will therefore give you a competitive advantage in your business.