You can further break this analysis down into a consideration of the internal and external attributes of your company. Strengths and weaknesses are considered internal — that is to say, they are attributes of your company or business itself. Opportunities and threats are considered external — that is, things that can help or hinder you originating from beyond your control.

What you want to identify are your company’s (or your business plans):

• Strengths: What is going to be helpful? What do you have going for you?
• Weaknesses: What are some potential problems or flaws in your business or plan?
• Opportunities: What are some favorable conditions and trends that may help you succeed?
• Threats: What are the negatives that might have an impact on your company’s performance (competition, economic climate, etc.).

A SWOT analysis, if conducted realistically, can give you a very clear idea of whether your company is viable. If it is, it can help you predict problems, smooth out your plans, and gain a greater understanding of your challenges in the future.

Once you’ve done this to your company, you can also perform a SWOT analysis on your marketing campaign. For example, you might come up with something that looks like the following:

• Strengths: Product addresses a well-known need, should be able to attract people’s attention
• Weaknesses: Product does not necessarily stand out from competition
• Opportunities: Targeting a niche segment of the population for whom the product will hold greater appeal
• Threats: Competition from similar products already existing online

From this sort of analysis, you’ll be able to make stronger decisions about your product, your company, and your marketing strategies — online or off.

This article is an extract from our free guide, “How To Increase Profits By Taking Your Business Online“.

Download the free guide in full at:

http://www.wiseinternetsolutions.com/html/website_design_free_guide.php

Calvin Close
President
Wise Internet Solutions