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Business Guidance

Conducting a SWOT Analysis

Contents

Contents

Conducting a SWOT Analysis

A SWOT analysis (strengths, weaknesses, opportunities and threats) is a simple tool to help you gather your thoughts as you review your business and the industry around you. It divides an overall analysis into internal issues – strengths and weaknesses) and external issues (opportunities and threats).

Put yourself in your customer’s shoes. Step back from your business and carefully scrutinise what your customers really want. What would make them return again and again to your business and ignore your competition? The answer might be quality, convenience, reliability or customer service. Remember, price is rarely the only reason people buy.

Remember to consider the opportunities that lie at your doorstep. What can you utilise in your surrounding area to add depth to your product offering? Does your business share a story with an iconic attraction? Is it located in an area of natural beauty? Is there an annual music event that you could tie in with?

SWOT Analysis Table

Strengths

Weakness
  • Beautiful location
  • Excellent local knowledge
  • House has real character & history
  • Mournes easily acessible
  • Lack of knowledge about how to use the internet and social media for marketing
  • Not enough existing networks with other tourism providers

Opportunities

Threats
  • The development of the Mourne Coastal route
  • New activity providers are emerging that will encourage more visitors to the area
  • Lots of quality restaurants and things to do in local area
  • The unpredictable weather can be off-putting
  • Cheap city breaks in Europe are an attractive proposition
  • Lots of similar B&B's in surrounding area

Action plan from SWOT analysis

Having considered areas for potential standout, the B&B owner decides to explore how to develop links with activity providers in the local area and resolves to start making better us of social and digital channels.