PORTERS FORCES

Areas covered by the Porters Forces are below. Recommendation is to combine SWOT and Porters Forces together.

Direct Competition

You as a business need to under the forces around competition. For instance, what are your competitors doing, that they may even be doing it better.

Threat Of Entry

If there is a lot of money to be made in the sector then it's a matter of time before you start getting loads of competitors. 

Threat of Substitute

What is the likelihood that the customers can simply find an alternative product to use instead of yours.

Supplier Power

If you have just one supplier for a product then you are bound to be squeezed heavily, hence ensure you have various option.

Buyer Power

Do the customers have money or too much leverage that they can squeeze profit.