Next Steps in Your Business Venture
Step 3: SWOT and PESTLE Analysis on Business Ideas
Idea 1 SWOT and PESTLE Analysis
SWOT
Strengths: What do you see as the strengths of moving forward with this business idea? What makes you excited about this business idea? |
Weaknesses: What do you see as potential weaknesses in moving forward with this business? What concerns do you have? |
Opportunities: How do you see this idea as an opportunity in the market? How do you see potential for growth down the road? |
Threats: What things could potentially impact the success of your business? |
PESTLE
Political: Do you see any political aspects that may positively or negatively impact this business idea? |
Economic: Are there current or future economic factors that could have a positive or negative impact on your business? |
Social: What social factors, such as cultural trends or demographics could impact your business either positively or negatively? |
Legal: What legal considerations are of concern? For example, additional regulations on your industry? |
Technological: Are there any technology issues you'd expect to impact this business, for example new technologies that could impact the industry? |
Environmental: Would the weather, climate or other environmental factors impact your business? |
Idea 2 SWOT and PESTLE Analysis
SWOT
Strengths: What do you see as the strengths of moving forward with this business idea? What makes you excited about this business idea? |
Weaknesses: What do you see as potential weaknesses in moving forward with this business? What concerns do you have? |
Opportunities: How do you see this idea as an opportunity in the market? How do you see potential for growth down the road? |
Threats: What things could potentially impact the success of your business? |
PESTLE
Political: Do you see any political aspects that may positively or negatively impact this business idea? |
Economic: Are there current or future economic factors that could have a positive or negative impact on your business? |
Social: What social factors, such as cultural trends or demographics could impact your business either positively or negatively? |
Legal: What legal considerations are of concern? For example, additional regulations on your industry? |
Technological: Are there any technology issues you'd expect to impact this business, for example new technologies that could impact the industry? |
Environmental: Would the weather, climate or other environmental factors impact your business? |
Idea 3 SWOT and PESTLE Analysis
SWOT
Strengths: What do you see as the strengths of moving forward with this business idea? What makes you excited about this business idea? |
Weaknesses: What do you see as potential weaknesses in moving forward with this business? What concerns do you have? |
Opportunities: How do you see this idea as an opportunity in the market? How do you see potential for growth down the road? |
Threats: What things could potentially impact the success of your business? |
PESTLE
Political: Do you see any political aspects that may positively or negatively impact this business idea? |
Economic: Are there current or future economic factors that could have a positive or negative impact on your business? |
Social: What social factors, such as cultural trends or demographics could impact your business either positively or negatively? |
Legal: What legal considerations are of concern? For example, additional regulations on your industry? |
Technological: Are there any technology issues you'd expect to impact this business, for example new technologies that could impact the industry? |
Environmental: Would the weather, climate or other environmental factors impact your business? |