SWOT Analysis
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Look at the model below, think about how you can apply the questions to your business, get a blank piece of paper, make 4 boxes and label them in the same way:

  • STRENGTHS & WEAKNESSES - These are internal factor to your business.
  • OPPORTUNITIES & THREATS - These are external factors to your business, but within the same market (your looking at your market in relation to competitors).

The logic behind the SWOT analysis is that by first looking at your business, you already have a set of strengths which you need to maintain, but by identifying weaknesses you can address them and move them into strengths. The same applies to opportunities, in the sense that by identifying threats you can work to reduce them as far as possible.

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