Using a SWOT to Develop Your Internet Marketing Strategy- Examining Your Opportunities And Threats
Once you've looked at the opportunities that have presented themselves to you or that you think may present themselves to you, you can consider your threats. Again, for the most part, these are external factors that you cannot control. Common threats to most businesses include a bit of new competition in your marketplace. New laws that apply to your business may also be a threat to you. Moreover, some of your weaknesses could potentially turn into threats, and you should consider those on your horizon. These, of course, are threats that you may be able to control in the long run. When you are trying to make your list, think about any obstacles that you are facing that could be placed in this category. Think about new technologies that your competitors are creating that may hurt you in the future. Also, think about how your market might change in the future. If the market is headed to an all internet based product, and you currently have a traditional store front to support, that could be a real problem for you and your business. If the product specifications or the training required for your job will change, that could be a detriment to your profits. If the financial requirements for your business might change, that could also be a problem to you in the future. For example, if you have been a debt based business, but things are changing in your industry, that could spell real problems for you and your business.
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