Completing your SWOT Analysis

So what are the strengths, weaknesses, opportunities and threats for your business idea?

Strengths:
·         What advantages do you have or what do you do better than anyone else?
·         What do people in your market see as your strengths?
·         What factors mean that you "get the sale"?
Weaknesses:
·         What could you improve?
·         Are there areas you should avoid?
·         What are people in your market likely to see as weaknesses?
·         What factors lose you sales?
Opportunities:
·         Where are good opportunities for you?
·         What are the interesting trends you can maximise?
Threats:
·         What obstacles do you face?
·         What is your competition doing that you should be worried about?
·         Is changing technology threatening your position?
·         Are political or environmental decisions likely to impact your business
·         Could any of your weaknesses seriously threaten your business?
 
Once you have completed the SWOT analysis, then you should consider how this knowledge can be used:
1.    How can we Use each Strength?
2.    How can we Stop each Weakness?
3.    How can we Exploit each Opportunity?
4.    How can we Defend against each Threat?