SWOT Analysis for Your Startup Business

1. SWOT Analysis for Your
Startup
Vithushan Vijayaratnam
Director Accelerator Program (Uki)
Yarl It Hub

2. SWOT Analysis is a strategic planning method used to evaluate
the Strengths, Weaknesses, Opportunities, and Threats involved in a business
venture or business startup.
1.A SWOT analysis starts with a definition of a desired end state or
objective.
2.Identifying the internal and external factors that are favorable and
unfavorable to achieving that objective.
3.Essential because steps in the process of planning for achievement of
the selected objective is derived from the SWOT analysis.

3. Four different factors in the SWOT analysis
• Strengths: attributes of the organization that are helpful to achieving the
objective
• Weaknesses: attributes of the organization that are harmful to achieving the
objective
• Opportunities: external conditions that are helpful to achieving the
objective
• Threats: external conditions that could do damage to the business’s
performance

4. Examples of strength attributes which can be used to gain the
business a competitive advantage could be factors such as:
Your business will capitalize on its strengths
• Patents
• Strong brand names
• Good reputation among customers
• Cost advantages from proprietary know-how
• Advantageous manufacturing capabilities
• Superior personnel
• Favorable access to distribution networks
• Superior product
• A superior location where the product can be purchased
• Advantages in promotion, such as advertising, public relations, word of mouth and point of sale

5. A weakness can be defined as the absence of competitive strength
such as:
Your business will shore up its weaknesses
• Lack of patent protection
• A weak brand name
• Poor reputation among customers
• High cost structure
• Lack of access to good raw materials or natural resources
• Lack of access to key distribution channels

6. Analysis of the external environment may reveal opportunities for
profit and growth for the startup business. Some of these include:
Your business will use its strengths to invest in its opportunities
• An unfilled customer need
• Loosening of regulations
• A growing market segment
• Technological change
• Socio-cultural changes

7. External environmental threats can be the flip side of opportunities. These
can include:
External threats can’t be controlled but they need to be identified and may
be able to be impacted.
• Negative socio-cultural changes
• Technological changes that threaten to make a product obsolete
• Threats of changes in laws and regulations
• Shifts in consumer tastes away from the business’s products
• Increased trade barriers

8. Conclusion
• Once a SWOT analysis has been done, the results should generate a list of
ideas that can then be turned into Goal Statements.

9. ? Questions ?
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