Conduct a SWOT analysis of your company
Posted: Sun Dec 22, 2024 6:08 am
Before you start making a business development plan, spend a few hours doing a SWOT analysis . Identify weaknesses, threats, strengths and opportunities and write them down in the document. It's a good starting point.
Remember that the SWOT analysis studies the following factors:
Weaknesses : What disadvantages do you have compared to your competitors? What could you improve?
Threats : Is your market oversaturated? Is it difficult to outcompete your competitors?
Strengths : What do you do better than other competitors? How is your business different?
Opportunities : Is there a niche market that is not being exploited? Can you be more efficient and reduce costs?
What should you include in your growth plan?
1. Growth opportunities
Study the market , your singapore phone numbers list ideal client , your competitors and how you have evolved so far.
Then identify growth opportunities, whether by creating new products or services or entering new markets (or a mix of both).
Consider your options and determine what your value proposition is going to be. That is, what are you going to offer that sets you apart from the rest ?
2. Financing plan
Surely the growth of your company requires an outlay on raw materials, human resources, promotion.
Do the math and determine how much money you need to make it happen. If you don't have it, look for funding.
Remember that the SWOT analysis studies the following factors:
Weaknesses : What disadvantages do you have compared to your competitors? What could you improve?
Threats : Is your market oversaturated? Is it difficult to outcompete your competitors?
Strengths : What do you do better than other competitors? How is your business different?
Opportunities : Is there a niche market that is not being exploited? Can you be more efficient and reduce costs?
What should you include in your growth plan?
1. Growth opportunities
Study the market , your singapore phone numbers list ideal client , your competitors and how you have evolved so far.
Then identify growth opportunities, whether by creating new products or services or entering new markets (or a mix of both).
Consider your options and determine what your value proposition is going to be. That is, what are you going to offer that sets you apart from the rest ?
2. Financing plan
Surely the growth of your company requires an outlay on raw materials, human resources, promotion.
Do the math and determine how much money you need to make it happen. If you don't have it, look for funding.