As I have learned, the best way to identify opportunities and threats is to do a SWOT analysis.
The following table outlines the strengths, weaknesses, opportunities, and threats respectively:
|
Organic Established in community Good local reputation In tourist town Ann looks like an organic gardener |
No web presence Lack of skills to support a website No marketing knowledge No alliance with ?big name? companies Lack of variety Time (Ann has a ?real? job) Attracting interns |
|
Web presence Expansion into other markets (balm for kids) Addition of complimentary products Build ?brand name? alliances |
Other herbal producers of (seeds, trees, plants) Animals (Bugs, Deer, Moose) Local Economy |
One of the major strengths of this company is that it is established in the community with a very good reputation. This means, if a web endeavor fails, the company can still survive doing what it is now.
Looking at the weaknesses, it is easy to see how some of the opportunities could reduce them. For instance, If this company gets online (No web presence), it will establish a web presence; If she aligns the company with a big company (Amazon or local stores), she can build some ?brand name? alliances; If Ann wants to increase the variety of what she sells than lip balm for kids and other products could be produced.
As for threats, Ann is in the process of putting a fence around her apple trees (deer love them) and she is always in the garden picking bugs. The local economy is what she has to watch out for. She needs to keep her eye on the financial woes of others. Buying from Oxbow Herbs & Heirlooms is a no lose situation. If you buy and your plant dies, Ann will replace it!