I’m doing a college class (Integrated Business Topics BUS/475) and currently I’m trying to prepare a SWOTT Analysis (Strengths, Weaknesses, Opportunities, Threats, and Trends) and was wondering if any of you “owners of your business” could give me some examples of the five characteristics of this strategic plan. I chose to write about a home inspection company since this is my job. I would like to hear from any of you that may have prepared your own SWOTT if you don’t mind. Any help is greatly appreciated.
Strengths would be related knowledge and experience, experience inspecting homes, ability to communicate clearly verbally and written, computer and internet user and marketing skills, finances sufficient for survival when starting out, or during slow times.
Weaknesses, lack of any of the strengths above.
Opportunities for a new guy, ability to use the most used technology for marketing, (a lot of ‘old time’ inspectors are not very skilled) Inspectors come and go, many are older, so they won’t be around for ever. Opportunities for established guy, industry networks and connections. Repeat business comes from referrals as opposed to the same customer, most people do not buy a lot of houses, if you are able to make everyone involved happy, buyer, seller, realtor, they will hopefully tell their friends.
Threats, volatile real estate markets.
Trends, local as opposed global internet based marketing.
The last time I did a SWOT analysis was in Grad School. Notice there is only one “T” at the end. “Trends” was not part of it back then.
Thanks for posting this - it made me think…
