SWOT Analysis - Your Mega Pro/Con List Part 3: Opportunities
Now that we have looked internally at our Strengths & Weaknesses, let’s look outside to things we do not have full control over.
Opportunities reflect what is going on in the environment you do business in from the marketplace as a whole, to your niche within it. Trends, events, projections, resources, etc. - what can you take advantage of?
For example, you sell oranges and you know through your farmers that this will be a great year for the orange crop. Is this an opportunity to expand your customer base? Maybe new markets?
In the current environment anyone in or looking into virtual education has a tremendous opportunity.
In this section only focus on the positive, we’ll discuss Threats next.
> Are there any major changes expected? Laws? Regulations?
> Any competitors getting out of the market?
> New resources/technology/etc. becoming available?
Opportunities are about how you can leverage changes in the marketplace for your customers, and therefore benefit your business.