SWOT Analysis for my business

In this post I will write about my strengths, weakneses, opportunities and threats (SWOT). I will analyse them by giving two examples for each.

Strenghts

• Value added service - by providing exeptional client service and adding value to the client's wedding. I can create a competetive advantage in the marketplace.
• Hight motivation level - having high motivated staff members will allow me to focus my efforts on more important tasks.

Weaknesess

• Lack of funds - I should think about my business plan and my expenses and aks for a loan from the bank.
• No market information - being relatively new there is no in-depth market infromation available to base the decisions.

Opportunities

• Strategic relationships with hotel managers, catering managers etc.  - these strategic relationships will lead to repeat business and sustained long term growth.
• Price strategy - lower prices, discounts, vouchers will help me to gain more customers than my competitors.

Threats

• High competition - I am new on the market, my competitors are more experienced and they have got lots of money.
• Paying bills - I might not have enough money for paying my rent.