SWOT Analysis

SWOT analysis stands for Strengths, Weaknesses, Opportunity’s and Threats. This exercise allows you to visualise where your business would be best positioned. It also allows others to see your strengths and weaknesses, allowing them to help you better your business. The main reason for doing SWOT analysis is to point out weaknesses and develop them into strengths. I conducted a SWOT analysis of my Product and here are the results

Strengths:

  • Original Concept
  • Ethical support

Weakness:

  • Low market presence
  • Small client base

Opportunity’s:

  • Very little competition
  • New product area
  • Could generate excitement
  • Ethical market support

Threats:

  • New market niche
  • New target market
  • Possible competitors later on

This exercise has helped me visualize my business in a new way; I’ve learned that I have a lot of opportunity’s but also a lot of threats. My next stage is to develop those threats into opportunities. Below is an image of my worksheet.

My Worksheet
My Worksheet
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