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SWOT: Interior Design Case Study

November 2006 (Creativebias)

Following is an authentic example of how the SWOT analysis works.

This exercise will provide you with a specific analysis of your own business.

SWOT: April 2008

STRENGTHS

  • Little competition locally
  • No staff to manage
  • Word-of-mouth recommendations
  • Repeat business from same clients
  • Excellent people skills
  • Reads characters well
  • No business premises costs
  • Member of local business-network

WEAKNESSES

  • Need more frequent financial analysis
  • Tax: self assessment difficult
  • Not many samples to show clients
  • No website
  • Not much publicity material
  • Unsure of where to advertise



OPPORTUNITIES


  • Have a website designed
  • Learn to up-load own materials
  • SME support and training available locally
  • New clients in wider geographic area
  • Design showrooms for building companies




THREATS


  • Very competitive industry
  • Bigger firms have visual presence
  • Economic decline reduces disposable income
  • TV shows encourage DIY design


Having analysed the current status of your business, the next step is to plan how to use that knowledge to strengthen and improve your venture.


Action Plan

Solution / Task
When

Need more financial analysis
Set up spreadsheet and update weekly
Now

Tax self assessment
Enrol on free government course
Before tax year ends

Need more samples
Build up stock, ask suppliers for free samples
Now

No website, internet advertising
Access free training re designing site and uploading materials
Now

Need more publicity material
Before and after pictures in a brochure, printed at home
Within 2 months

Where to advertise?
Local free press; leaflets in companies where young professional work; leaflets in local estate agents’; pens and note pads
Once website ready; budget for leaflets and stationery

Need more clients

Design showrooms
Contact local building companies with brochures and competitive prices
Once brochure and website ready

Repeat business
Keep in contact with previous clients; small % reduction for repeat business; ‘introduce a friend’ voucher scheme
6 monthly

Business network
Continue networking
On-going
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1 Comment

  1. This gives a good practical idea. The S and W in a SWOT analysis are internal (about your company) and the Opportunities and Threats are external.

    Margo Lumby
    Website: http://www.toolkitmarketing.co.uk
    Twitter: http://twitter.com/margolumby
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