Example of real business plan SWOT analysis

Lesson Details:

Video Transcription: Now let's go over the SWOT analysis in the business plan for my mobile apps it's relatively simple and you should do this in your case just to evaluate your overall business so the strengths are and one of the top people in app store search I teach classes on it I have a book on this so I definitely have a marketing advantage of over a lot of the competitors right then I also have deep customer understanding because by now you know like I actually spend a lot of time talking to my customers so I give personal care and I have years of experience improving the product and I'm the product guy i market the product and I'm the product guy it's all in my head I don't have a team who's confused who's communicates I have it all here and I am a head of a lot of my competitors already so I'm not starting I have started then I've got some progress but I do have some weaknesses I have limited resources to keep growing and experimenting with this because my main business today is my courses and my other things so I have very very very part-time not of time to devote to this so that's a problem for me and that's gonna set up this business to not do well long term the opportunities is that there's still more mobile app store domination that can be have and I can grow my brand and I can grow sharing.

They're they're still I can still make the apps better and through that that apps can grow still more until I'm missing out on that and my threats to the business are there's an easy barrier to entry right anybody can create an app in like a couple of weeks or a month of programming and I there's a lot of million and billion dollar apps that can jump ahead of me and their apps might be their full-time focus or they might have a team of full-time people devoted to their apps where I don't even have a team of one person devoted full-time to these apps so that's a threat to this business and also because I can only devote a certain amount of time to this I can't keep up with the app technologies on Apple on Android as fast as teams who are fully involved in this so try to create the SWOT analysis for your business just to see if if you're honest with yourself in it you'll see the business at a high level and it will help you evaluate risks versus room words for example I know what the opportunity is I know how much I can gain but I also know I have to devote more time to this so I have to pull my time away from something else and it just helps my decision-making whether I should or should not do it and it will do the same thing for you.