1. Conducting a SWOT Analysis
Written by
Annette Dunlap, MBA
Extension Associate
Ag & Resource Economics
NC State University

2. The Value-Added & Alternative Agriculture Start-up Toolkit
Program Outline
What is a SWOT analysis?
Identifying your Strengths
Understanding your Weaknesses
Capitalizing on Opportunities
Minimizing Threats
Resources
The Value-Added & Alternative Agriculture Start-up Toolkit

3. The Value-Added & Alternative Agriculture Start-up Toolkit
What is a SWOT Analysis?
A SWOT analysis is a systematic way of looking at the internal and external factors affecting your business. “SWOT” means:
Strengths
Weaknesses
Opportunities
Threats
The Value-Added & Alternative Agriculture Start-up Toolkit

4. Identifying your Strengths
Strengths are generally “internal” – those things that you bring to the enterprise that can help it grow and develop successfully
Examples are:
Education
Experience
Capital
Access to advisors/support systems
The Value-Added & Alternative Agriculture Start-up Toolkit

5. Understanding your Weaknesses
Like Strengths, Weaknesses are generally internal. They are those things that could prevent the business from reaching its goals.
Examples of weaknesses are:
Limited experience or education
Limited access to needed capital
Limited availability of labor, support or professional help
The Value-Added & Alternative Agriculture Start-up Toolkit

6. Capitalizing on Opportunities
Opportunities are those things we perceive that will help our business grow. They are outside of our control, but we want to make decisions that allow us to take control of what the opportunity offers.
Most opportunities arise from our understanding of the unmet needs or wants in the marketplace.
The Value-Added & Alternative Agriculture Start-up Toolkit

7. Examples of Opportunities
Unmet customer need or want for a new product or service
Opportunity to expand customer service
New market openings through product development
Changes in market demand that benefit our business
The Value-Added & Alternative Agriculture Start-up Toolkit

8. The Value-Added & Alternative Agriculture Start-up Toolkit
Minimizing Threats
Threats are also external to the business
Planning can help to reduce the impact of threats
Typical threats are:
Negative changes in market demand
Changes in economic status
Changes in customer preferences
Entry of a new competitor
Changes in regulations and laws
The Value-Added & Alternative Agriculture Start-up Toolkit

9. The Value-Added & Alternative Agriculture Start-up Toolkit
Next Step Resources
For a free SWOT analysis template, go to:
Another SWOT profile is available at:
Overview of how to start an alternative agriculture business:
The Value-Added & Alternative Agriculture Start-up Toolkit