Why you should perform a Swot Analysis when starting a business
A Swot Analysis is a great tool to use when starting a business because it helps you analysis the market by directly assessing yourself and your competitors.
It is a tool that is used by many sophisticated businesses and corporations. A Swot analysis is a business strategy that objectively allows you an opportunity to dominate the market and gain a competitive advantage over the market as a whole.
Therefore, when starting your business it will allow you a chance to get a jump start by filling a void or gap in the market that your competition or other leaders in the market may lack. As well as an opportunity to develop a business strategy that allows you to capitalize on the market using your strengths, weaknesses, threats, and opportunities (SWOT) to create the most suitable product or service.
Watch this video to learn a simple way to apply this strategy directly to your business to improve or create the perfect strategy!
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00:00 Introduction
01:00 What is a SWOT Analysis
01:27 How To Use A SWOT Analysis
02:13 How Evaluate To Evaluate Strengths
02:45 How To Evaluate Their Weaknesses
03:06 How To Identify Opportunities
04:16 How To Identify Threats
05:48 How to Analyze What Customers Are Saying