wcms_436192

Recommendations

Info

By making this comparison, Muthoni thinks that all three have advantages but that she would be best suitedto manage the disadvantages of the second-hand clothing store. She also thinks that she is more interested inthat idea, as it fits well with her love of fashion. She decides to choose the second-hand clothing store as herbusiness.ACTIVITY 12Now 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 ofyour 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 businessenvironment? 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 foryour next two ideas.PART IV | The best business ideas for you | 59
SWOT ANALYSISBusiness idea: …………………………………………………………………………………STRENGTHSWEAKNESSESOPPORTUNITIESTHREATSAdvantages:Disadvantages:When you have completed the three SWOT analyses for the three business ideas, compare them and select thebusiness which has more advantages and less disadvantages and /or is easier to overcome the disadvantages.60 | Generate Your Business Idea
Page 2 and 3:
GENERATEYOUR BUSINESSIDEAgenerate Y
Page 4 and 5:
About the Start and Improve Your Bu
Page 6 and 7:
ContentsINTRODUCTIONi1. What is thi
Page 8 and 9:
INTRODUCTION |1. What is this manua
Page 10 and 11:
PART I |YOU AS AN ENTREPRENEURAre y
Page 12 and 13:
Business management skillsBusiness
Page 14 and 15:
Githuku worked for a construction m
Page 16 and 17:
2.3 Identify your business field an
Page 18 and 19: ACTIVITY 2ACTION PLANAreas that nee
Page 20 and 21: PART II |A MARKET IS WAITING FOR YO
Page 22 and 23: 2. What makes a business idea?A bus
Page 24 and 25: 2.2 What good or service will your
Page 26 and 27: 2.3 Who will your business sell to?
Page 28 and 29: Refer to the cases of Janet and Lil
Page 30 and 31: My business idea is:...............
Page 32 and 33: PART III |YOUR OWN BUSINESS IDEA LI
Page 34 and 35: What did Hamisi do to find his busi
Page 36 and 37: BUSINESS IDEAS ANALYSIS FORMName of
Page 38 and 39: ___________________________________
Page 40 and 41: 4. Draw from experience4.1 Your own
Page 42 and 43: There is no tea shop orquiet bar wh
Page 44 and 45: Muthoni also makes the following ge
Page 46 and 47: 6. Scanning your environmentYou can
Page 48 and 49: 6.3 Waste productsBusiness opportun
Page 50 and 51: 6.6 Trade fairs and exhibitionsOrga
Page 52 and 53: 7. BrainstormingBrainstorming means
Page 54 and 55: This can be illustrated as follows:
Page 56 and 57: 9. Your ideas listACTIVITY 10Now co
Page 58 and 59: PART IV |THE BESTBUSINESS IDEAS FOR
Page 60 and 61: Agency for home-basedcareWhich need
Page 62 and 63: ••Does this business need equip
Page 64 and 65: After you have acquired more inform
Page 66 and 67: SWOT ANALYSISBusiness idea: Second-
Page 70 and 71: PART V |YOUR OWN BUSINESS IDEAIf yo
Page 72: Want to start a business, but still
show all

wcms_436192

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?