SWOT, GOALS, PLAN

We look at the Strengths, Weaknesses, Opportunities, and Threats to your eCommerce project. These then inform your goals and with these a clear Roadmap can be formed to help you get to where you want to be.

A SWOT analysis is an incredibly simple, yet powerful tool to help you develop your business strategy, whether your’e building a startup or guiding an existing company.

When you take the time to do a SWOT analysis, you’ll be armed with a solid strategy for prioritising the work that you need to do to grow your business.

You may think that you already know everything that you need to do to succeed, but a SWOT analysis will force you to look at your business in new ways and from new directions. You’ll look at your strengths and weaknesses, and how you can leverage those to take advantage of the opportunities and threats that exist in your market.

Strengths.

Strengths: your business may already have a strong track-record selling to customers. How do you do this online? Questions may look like…

What assets do you have in your team, such as knowledge, education, network, skills, and reputation?

What competitive advantages do you have over your competition?

Weaknesses.

Weaknesses: or areas for improvement – do you have the necessary expertise to run an eCommerce website? What resources will you need?

For example… what business processes need improvement?

Opportunities.

Weaknesses: or areas for improvement – do you have the necessary expertise to run an eCommerce website? What resources will you need?

Opportunities and threats are external?things that are going on outside your company, in the larger market. You can take advantage of opportunities and protect against threats, but you can’t change them. Examples include competitors, prices of raw materials, and customer shopping trends.

An example question may be: is your market growing and are there trends that will encourage people to buy more of what you are selling?

Threats.

Weaknesses: or areas for improvement – do you have the necessary expertise to run an eCommerce website. What resources will you need?

Or could future developments in technology change how you do business / could your competitors be doing this already?