S.W.O.T. Analysis

Research your competitors and assess your uniqueness: it will help you determine your website’s goals

Anyone running a business has more than likely heard of S.W.O.T. For those that haven’t, S.W.O.T. is the accronym for:

  • Strengths
  • Weaknesses
  • Opportunities
  • Threats

If you’re a start up or if you’re taking your business in a new direction, when you write your business plan it’s a good idea to carry out a S.W.O.T. analysis as part of your market research.
This means determining the strengths of your competition compared with your strengths (the unique benefits you offer), assessing your company’s weaknesses compared with those of your competition (what your competitors offer that you don’t), finding opportunities in the market place (your niche market, i.e. who will benefit from your uniqueness) and examining possible threats to your business success (increased competition, decreased demand, etc).
Although there’s more to S.W.O.T. than this, when you do your market research, an important factor you’ll notice is that your most successful competitors have a professional website.
If you don’t have a professional website, or worse, you don’t have a website at all, this would fall under under the weakness heading in your S.W.O.T. analysis for your business, and under strengths for your competitors who have a website.
A professional website strengthens your company’s position in the market place by opening up opportunities that help your business grow and succeed. If you haven’t already read them, you can see 8 reasons why your business needs professional website here.
Ensure your company has a competitive edge by contacting Kaz Design Works for your professional website design, now!