Another impressive video. Might be useful to link this one with your TOWS video, do a personal SWOT example video, and look at the Harvard Business Review article: Are you doing your the SWOT Analysis backwards? Thanks, Jim
Is a swot analysis required when your business hasn’t started yet? I’m writing a business plan but it’s a new start up, so no staff/premises as yet. Thanks
Hi there! Thank you for your question. Although performing a SWOT analysis is not a legal requirement, it is generally recommended as a best practice when starting a new business. As you are in the process of writing a business plan for your new start-up, performing a SWOT analysis can help you identify and evaluate the potential strengths, weaknesses, opportunities, and threats of your business idea. Since your business has not started yet, you may not have any staff or premises, but a SWOT analysis can still be useful in identifying potential risks and opportunities that you may encounter in the future. This can help you develop a strategy for mitigating risks and leveraging opportunities to your advantage as you move forward. Hope this helps and good luck with your business plan - feel free to ask any further questions you may have! xx
