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By making this comparison, Muthoni thinks that all three have advantages but that she would be best suited
to manage the disadvantages of the second-hand clothing store. She also thinks that she is more interested in
that idea, as it fits well with her love of fashion. She decides to choose the second-hand clothing store as her
business.
ACTIVITY 12
Now do a SWOT analysis for each of the three business ideas you have selected.
First make three copies of the SWOT analysis form as shown on the next page and then write down the first of
your three selected business ideas on the first form.
Think carefully about the strengths and weaknesses within the business. These may be personal characteristics,
financial issues, marketing issues, the location of the business or the cost of promoting and selling your product.
Write all of them down.
Think of the external environment for this business. What are the opportunities and threats in your business
environment? The “key informants” you spoke to during your field research may have pointed these out to you.
Write them down.
Ask yourself:
••
Can I combine my strengths with the opportunities to create a big advantage?
••
What disadvantages are created by the weaknesses and the threats? Can I overcome them? How?
Then write down the advantages and disadvantages, as well as how you intend to overcome them.
When you are finished with your first idea, use the two copies of the form to do the same SWOT analysis for
your next two ideas.
PART IV | The best business ideas for you | 59