SWOT Analysis Threats in Internet Business
Wednesday, September 8th, 2010SWOT Analysis Threats in Internet Business
SWOT Analysis Threats is one f the worst events in Internet Business like any other businesses. How do you deal with the threats when it finally realized in your Internet Business? How do you mitigate it to an extend that it does not hurt your business and future growth? Below are some tips that are derived from my own Internet Business. I also included some important points to for you to understand how SWOT Analysis Threats are identified.
How SWOT Analysis Threats can be identified?
Firstly, in most cases, threats in Internet Business are external factors and beyond your own control. However, having said that, you still need to find a way to identify them because it is detrimental to your own business profitability and future growth. Below are some source of information about threats to Internet Business:-
- Subscribe to Internet News from search engines, your hosting company and pay attention to news that may have impact to your internet business. It is not easy as it normally do not have direct indication as a Threat.
- Join forum – and be an active member. Search for similar topics and see how the members response. Evaluate them and compare that with your own internet business for its impact.
- Join websites like yahoo answer, answer dot com and look for such question in their questions section. Ask the question yourself if you can’t find any
- Collate your own problem encountered so far and collect similar information from friends. Do an evaluation and confirm whether those problem constitute to be a threat to your own Internet Business.
How to mitigate SWOT Analysis Threats
Ideally, your should totally eliminate any threats to your Internet Business. If you can’t, then you have to think of a way to mitigate or reduced its impact when it really happen to you. It is better be prepared than sorry later.
“TAKE PRECAUTION” maybe the most appropriate action to take for you to mitigate any threats to your own Internet Business. And to do it effectively, you need to use the SWOT Analysis Matrix. What you need to avoid is get into other problem while trying to prevent threats from happening. Therefore, instead of looking at the threat in isolation, you need to look at SWOT Analysis Threats holistically. Always refer back to the SWOT Analysis Threats together with other SWOT factor like those stated in the table.
Tips to Mitigate SWOT Analysis Threats
Below are some common tips to mitigate SWOT Analysis Threats to your Internet Business. While it may be a long list but you need to screen them to suit your own purpose.
- Avoid using one hosting company if you have multiple websites or blogs
- If you can afford, use a paid hosting. If you ever use free hosting, pick those reputable companies such as blogger or wordpress ( note: this companies are my own evaluation and I do not guarantee they are reliable. You use them at your own risk )
- Always back up your website or blog, database, etc. And do it as frequent as you can so that your latest information are backup.
- Use different company for domain and hosting. If anything wrong the hosting company, you still can transfer the domain to another hosting company and upload your backup data.
- Do not violate any law of any country and terms and conditions of search engines
- Do not conduct spamming activities.
- If you depends on search engine ranking, always keep your website listing on top 10 of the search engine listing
- Use multiple traffic generation to your website such as article marketing, list building, email marketing, social networking etc to overcome your website being sandbox by search engine.
- Have multiple source of income to your website. If you use CPC as an income source, look out for other source of income such as CPA, Textlink, Affiliate Marketing etc
In summary, every business has its own threats though some are small and short term while some are major and has long term effect to the business. While you want to total eliminate them, the best solution is to take preventive action so that you do not suffer any loss during any recovery. Look at the SWOT Analysis Threats closely and do your best to mitigate it.