Marketing principles for career development 03NOV2018Leticia Ferreira
Sometimes we struggle with our personal branding because we start with the tactics without articulating a strategy. We want to develop a perfect "elevator pitch" before having enough clarity of our goals and aspirations, our target market, and the value we actually deliver to our customers. Good marketing planning precedes successful advertising.
How to write a business plan that worksBusiness Plan
Strategically analyze your business. Find out what your strengths, weaknesses, opportunities and threats are. Increase your strengths, minimize your weaknesses, exploit your opportunities and avoid the threats. Check out: http://www.business-plan.co.za
As part of that, you'll assess the business you've chosen to start, or are already running, to see what the chances are that it will actually achieve those ends.
Marketing principles for career development 03NOV2018Leticia Ferreira
Sometimes we struggle with our personal branding because we start with the tactics without articulating a strategy. We want to develop a perfect "elevator pitch" before having enough clarity of our goals and aspirations, our target market, and the value we actually deliver to our customers. Good marketing planning precedes successful advertising.
How to write a business plan that worksBusiness Plan
Strategically analyze your business. Find out what your strengths, weaknesses, opportunities and threats are. Increase your strengths, minimize your weaknesses, exploit your opportunities and avoid the threats. Check out: http://www.business-plan.co.za
As part of that, you'll assess the business you've chosen to start, or are already running, to see what the chances are that it will actually achieve those ends.
Here describe the SWOT Analysis in the Strategic Management. A Complete package that covered all the related areas (such like SWOT advantages, disadvantages, application & Example)
As the New Year begins, it is time to look back at what you achieved last year (and other years prior) and assess the performance of your business. Knowing how well (or poorly) you did the past years can help you improve for the coming years. Here are 14 checklists for your home business start of the year review:
Performing SWOT analysis is most important for businesses to make a right decision by analyzing their internal and external factors.
Source<> http://www.bizbilla.com/articles/How-to-do-SWOT-analysis-for-your-business-1286.html
I gave this presentation on February 16, 2016, at the Decatur Morgan County Entrepreneurial Center. It covers market analysis competitive analysis, the importance of target markets, pricing strategies, and positioning in the marketplace.
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When listening about building new Ventures, Marketplaces ideas are something very frequent. On this session we will discuss reasons why you should stay away from it :P , by sharing real stories and misconceptions around them. If you still insist to go for it however, you will at least get an idea of the important and critical strategies to optimize for success like Product, Business Development & Marketing, Operations :)
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Michael Economou is an Entrepreneur, with Business & Technology foundations and a passion for Innovation. He is working with his team to launch a new venture – Exyde, an AI powered booking platform for Activities & Experiences, aspiring to revolutionize the way we travel and experience the world. Michael has extensive entrepreneurial experience as the co-founder of Ideas2life, AtYourService as well as Foody, an online delivery platform and one of the most prominent ventures in Cyprus’ digital landscape, acquired by Delivery Hero group in 2019. This journey & experience marks a vast expertise in building and scaling marketplaces, enhancing everyday life through technology and making meaningful impact on local communities, which is what Michael and his team are pursuing doing once more with Exyde www.goExyde.com
Salma Karina Hayat is Conscious Digital Transformation Leader at Kudos | Empowering SMEs via CRM & Digital Automation | Award-Winning Entrepreneur & Philanthropist | Education & Homelessness Advocate
How to Build a Diversified Investment Portfolio.pdfTrims Creators
Building a diversified investment portfolio is a fundamental strategy to manage risk and optimize returns. For both novice and experienced investors, diversification offers a pathway to a more stable and resilient financial future. Here’s an in-depth guide on how to create and maintain a well-diversified investment portfolio.
2. SWOT Analysis
Discover New Opportunities, Manage and Eliminate
Threats.
Learn how to use SWOT Analysis to create a successful
competitive position.
SWOT Analysis is a useful technique for understanding
your business.
Monday, February 27, 2017 2
3. Cont’d
A good entrepreneur is always on the hunt for new
opportunities. One of the best ways to identify
opportunities within your business is to complete a
SWOT analysis. The acronym SWOT stands for
S - Strengths
W - Weaknesses
O - Opportunities
T - Threats
Monday, February 27, 2017 3
4. Cont’d
SWOT Analysis Challenge:
How to Identify Opportunities
Monday, February 27, 2017 4
5. The best time to conduct a SWOT analysis
Before we walk through today’s SWOT brainstorming
exercise, we thought we’d take a second and talk about
when an analysis like this should be done.
A SWOT analysis is meant to arm you with valuable
information about your company. This information gives
you a comprehensive view of your company as a whole,
which will guide you in your decision-making process.
A business professor will tell you it’s always a good time to
conduct a SWOT analysis. Any time you can take to
critically look at your business and see how it’s performing
is a good thing. However, there are strategic times when a
SWOT analysis is most beneficial
Monday, February 27, 2017 5
6. IDEAL TIMES TO CONDUCT A SWOT ANALYSIS:
At the beginning of the year. It’s no coincidence that we’re running the
SWOT Challenge at the beginning of the year. As a new year begins, it’s a
natural time to review the past year and look ahead. By conducting an analysis
at the beginning of a new year, you’ll be ready to make decisions in the coming
months.
Do an annual check up. Just like you should visit the doctor annually, your
SWOT analysis should get a check up at least once a year too. You’ll be amazed
how much can change within a year. You might not need to conduct the
analysis from top to bottom again, but you should at least set aside a day to
review it and make updates.
Do a SWOT analysis when a shift occurs. If something big is changing in
your business, it’s time to do a new SWOT report. Maybe you just took on a big
client and plan to increase your revenue, or maybe the political support that
you once had is shifting. When a noticeable change like this happens, it’s
always a good idea to re-evaluate where your business stands.
A SWOT analysis is vital for potential businesses. If you’re planning a
business, conducting a SWOT report is a great way to check the viability of your
idea.
Monday, February 27, 2017 6
7. HOW TO DEFINE YOUR COMPANY’S OPPORTUNITIES
Ok, it’s time to pull out your SWOT template.
Let’s talk opportunities. Opportunities, as you
might guess, are factors that can contribute to
your growing success. These factors are
typically outside of your control, which is why
they are consider external factors.
Monday, February 27, 2017 7
8. Cont’d
Here are a few categories to consider when looking for business
opportunities:
Economic trends. Look at the economy in your area.
Market trends. Your target market could be driving new trends that
could open doors for your business.
Funding changes. Think of donations, grants, or other sifting
revenue streams that aren’t within your control.
Political support. Consider changes in political ties.
Government regulations. Think of regulations that are changing
that might afford you new opportunities.
Changing relationships. Consider shifting relationships with
vendors, partners, or suppliers.
Target audience shift. Your target market might be expanding,
aging, or shifting.
Monday, February 27, 2017 8
9. Questions to ask to find opportunities
To help you brainstorm possibly
opportunities, we’ve created a list of
questions to help. The questions are
broken up by the categories that we just
went over. If a question doesn’t apply to
your business, simply move on to the
next.
Monday, February 27, 2017 9
10. Cont’d
Economic trends:
Is the economy in your area looking up?
Will the economy enable your audience to make more
purchases?
Are economic shifts happening that impact your target
audience?
Market trends:
How is your market changing?
What new trends could your company take advantage of?
What kind of timeframe surrounds these new trends?
Could it be a long-term opportunity?
Monday, February 27, 2017 10
11. Cont’d
Funding changes:
Do you expect an increase in grant funding or
donations this year?
How will funding changes help your business?
Political support:
Do you anticipate a shift in political support this
year?
What opportunities could be created with new
political partnerships?
Monday, February 27, 2017 11
12. Cont’d
Government regulations
Are any regulations shifting that could lead to a positive change?
Changing relationships:
Are there positive changes happening within any of your outside business
relationships?
Are vendors changing or expanding?
Has your partner decided to move on, creating an opportunity to work with
someone new?
Target audience shift:
How is your demographic shifting?
What opportunities can you think of that can move with these changing
demographics?
Is your audience expanding? If so, how can you capitalize on this increase?
Monday, February 27, 2017 12
13. Tips to list your opportunities
Do your research. Finding answers to some of these questions
might require some digging. Don’t be afraid to make some calls,
set up meetings, and do some market research to gauge
upcoming changes.
Be creative. To find an opportunity where your competitors
cannot will take skill and creativity. Don’t be afraid to think
outside the box when you’re listing possible opportunities.
Keep your list of opportunities handy. We’ll add to your
SWOT analysis tomorrow, so keep your list of opportunities in a
safe spot.
Stay tuned for tomorrow’s SWOT analysis task: listing your
threats. We’ll have a similar guide ready to go to walk you
through the process.
What opportunities did you come up with for your business?
Share your findings in the comments!
Monday, February 27, 2017 13
14. SWOT Analysis (cont’d)
Used in a business context, it helps you carve a
sustainable niche in your market. Used in a personal
context, it helps you develop your career in a way that
takes best advantage of your talents, abilities and
opportunities.
This article looks at how to use the tool in a business
context.
Monday, February 27, 2017 14
15. BUSINESS SWOT ANALYSIS
What makes SWOT particularly powerful is that, with a
little thought, it can help you uncover opportunities that
you are well-placed to exploit. And by understanding the
weaknesses of your business, you can manage and
eliminate threats that would otherwise catch you
unawares.
More than this, by looking at yourself and your
competitors using the SWOT framework, you can start
to craft a strategy that helps you distinguish yourself
from your competitors, so that you can compete
successfully in your market.
Monday, February 27, 2017 15
16. How to Use the Tool
Originated by Albert S Humphrey in the 1960s, the tool
is as useful now as it was then. You can use it in two ways
– as a simple icebreaker helping people get together to
"kick off" strategy formulation, or in a more
sophisticated way as a serious strategy tool.
Monday, February 27, 2017 16
17. TIP:
Strengths and weaknesses are often internal to your
organization, while opportunities and threats
generally relate to external factors. For this reason,
SWOT is sometimes called Internal-External Analysis
and the SWOT Matrix is sometimes called an IE Matrix.
To help you to carry out your analysis, download and
print off our free worksheet, and write down answers to
the following questions.
Monday, February 27, 2017
BUDU, BRIGHT 2016
17
19. Strengths
What advantages does your organization have?
What do you do better than anyone else?
What unique or lowest-cost resources can you draw
upon that others can't?
What do people in your market see as your
strengths?
What factors mean that you "get the sale"?
What is your organization's Unique Selling
Proposition [Add to My Personal Learning Plan]
(USP)?
Monday, February 27, 2017 19
20. Strength (cont’d)
Consider your strengths from both an internal perspective,
and from the point of view of your customers and people in
your market.
Also, if you're having any difficulty identifying strengths,
try writing down a list of your organization's
characteristics. Some of these will hopefully be strengths!
When looking at your strengths, think about them in
relation to your competitors. For example, if all of your
competitors provide high quality products, then a high
quality production process is not a strength in your
organization's market, it's a necessity.
Monday, February 27, 2017 20
21. Weaknesses
What could you improve?
What should you avoid?
What are people in your market likely to see as
weaknesses?
What factors lose you sales?
Again, consider this from an internal and external basis: Do
other people seem to perceive weaknesses that you don't see?
Are your competitors doing any better than you?
It's best to be realistic now, and face any unpleasant truths as
soon as possible.
Monday, February 27, 2017 21
22. Opportunities
What good opportunities can you spot?
What interesting trends are you aware of?
Useful opportunities can come from such things as:
Changes in technology and markets on both a broad and
narrow scale.
Changes in government policy related to your field.
Changes in social patterns, population profiles, lifestyle
changes, and so on.
Monday, February 27, 2017 22
23. TIP
A useful approach when looking at opportunities is to
look at your strengths and ask yourself whether these
open up any opportunities. Alternatively, look at your
weaknesses and ask yourself whether you could open up
opportunities by eliminating them.
Monday, February 27, 2017 23
24. Threats
What obstacles do you face?
What are your competitors doing?
Are quality standards or specifications for your job,
products or services changing?
Is changing technology threatening your position?
Do you have bad debt or cash-flow problems?
Could any of your weaknesses seriously threaten
your business?
Monday, February 27, 2017 24
25. TIP
When looking at opportunities and threats, PEST
Analysis [Add to My Personal Learning Plan] can help to
ensure that you don't overlook external factors, such as
new government regulations, or technological changes
in your industry.
Monday, February 27, 2017 25
26. Further SWOT Tips
If you're using SWOT as a serious tool (rather than as a casual "warm up" for
strategy formulation), make sure you're rigorous in the way you apply it:
Only accept precise, verifiable statements ("Cost advantage of $10/ton in
sourcing raw material x", rather than "Good value for money").
Ruthlessly prune long lists of factors, and prioritize [Add to My Personal
Learning Plan] them, so that you spend your time thinking about the most
significant factors.
Make sure that options generated are carried through to later stages in the
strategy formation process.
Apply it at the right level – for example, you might need to apply the tool at a
product or product-line level, rather than at the much vaguer whole company
level.
Use it in conjunction with other strategy tools (for example, USP Analysis
[Add to My Personal Learning Plan] and Core Competence Analysis [Add to
My Personal Learning Plan] ) so that you get a comprehensive picture of the
situation you're dealing with
Monday, February 27, 2017 26
27. NOTE
You could also consider using the TOWS Matrix [Add to
My Personal Learning Plan] . This is quite similar to
SWOT in that it also focuses on the same four elements
of Strengths, Weaknesses, Opportunities and Threats.
But TOWS can be a helpful alternative because it
emphasizes the external environment, while SWOT
focuses on the internal environment.
Monday, February 27, 2017 27
28. Example
A start-up small consultancy business might draw up the
following SWOT Analysis:
Monday, February 27, 2017 28
29. Strength
We are able to respond very quickly as we have no red
tape, and no need for higher management approval.
We are able to give really good customer care, as the
current small amount of work means we have plenty of
time to devote to customers.
Our lead consultant has strong reputation in the
market.
We can change direction quickly if we find that our
marketing is not working.
We have low overheads, so we can offer good value
to customers.
Monday, February 27, 2017 29
30. Weaknesses
Our company has little market presence or reputation.
We have a small staff, with a shallow skills base in
many areas.
We are vulnerable to vital staff being sick, and
leaving.
Our cash flow will be unreliable in the early stages.
Monday, February 27, 2017 30
31. Opportunities
Our business sector is expanding, with many future
opportunities for success.
Local government wants to encourage local
businesses.
Our competitors may be slow to adopt new
technologies.
Monday, February 27, 2017 31
32. Threats
Developments in technology may change this market
beyond our ability to adapt.
A small change in the focus of a large competitor might
wipe out any market position we achieve.
As a result of their analysis, the consultancy may decide to
specialize in rapid response, good value services to local
businesses and local government.
Marketing would be in selected local publications to get
the greatest possible market presence for a set advertising
budget, and the consultancy should keep up-to-date with
changes in technology where possible.
Monday, February 27, 2017 32
33. Key Points
SWOT Analysis is a simple but useful framework for
analyzing your organization's strengths and weaknesses,
and the opportunities and threats that you face. It helps
you focus on your strengths, minimize threats, and take the
greatest possible advantage of opportunities available to
you.
It can be used to "kick off" strategy formulation, or in a
more sophisticated way as a serious strategy tool. You can
also use it to get an understanding of your competitors,
which can give you the insights you need to craft a coherent
and successful competitive position.
When carrying out your analysis, be realistic and rigorous.
Apply it at the right level, and supplement it with other
option-generation tools where appropriate.
Monday, February 27, 2017 33