1
00:00:00,004 --> 00:00:03,001
- Number six, keys to success.

2
00:00:03,001 --> 00:00:05,001
Now that you've established a good foundation

3
00:00:05,001 --> 00:00:06,005
for what you're wanting to achieve,

4
00:00:06,005 --> 00:00:09,002
it's time to list the benchmarks or tools needed

5
00:00:09,002 --> 00:00:11,000
to obtain those goals.

6
00:00:11,000 --> 00:00:14,007
Examples maybe to follow a proven system consistently.

7
00:00:14,007 --> 00:00:18,001
Established great relationships with vendors or contractors.

8
00:00:18,001 --> 00:00:20,004
Acquire necessary investment capital

9
00:00:20,004 --> 00:00:23,005
or develop dependable and successful marketing campaigns

10
00:00:23,005 --> 00:00:25,000
for lead generation.

11
00:00:25,000 --> 00:00:26,008
You'll want to include anything you feel

12
00:00:26,008 --> 00:00:28,002
will help you stay on track

13
00:00:28,002 --> 00:00:30,006
so you achieve your projected growth.

14
00:00:30,006 --> 00:00:33,000
Number seven, SWOT analysis.

15
00:00:33,000 --> 00:00:34,007
SWOT stands for strengths,

16
00:00:34,007 --> 00:00:37,008
weaknesses, opportunities and threats.

17
00:00:37,008 --> 00:00:40,002
This section requires time and critical thinking

18
00:00:40,002 --> 00:00:43,000
as you are going to be compelled to identify information

19
00:00:43,000 --> 00:00:46,000
that most new business owners fail to acknowledge.

20
00:00:46,000 --> 00:00:48,007
In order to perform a good SWOT analysis,

21
00:00:48,007 --> 00:00:51,005
you'll want to focus on the individual parts separately

22
00:00:51,005 --> 00:00:55,000
and then begin to formulate the bullet points for each one.

23
00:00:55,000 --> 00:00:57,004
Once you have the information you feel is valid,

24
00:00:57,004 --> 00:00:59,006
you can begin to write this segment.

25
00:00:59,006 --> 00:01:00,005
To start this segment,

26
00:01:00,005 --> 00:01:03,000
you'll need a three to four paragraph opening statement

27
00:01:03,000 --> 00:01:06,006
that gives an overview or explanation of the SWOT analysis.

28
00:01:06,006 --> 00:01:07,007
Once you've done that,

29
00:01:07,007 --> 00:01:10,005
begin to list bullet points for each section.

30
00:01:10,005 --> 00:01:13,002
For example, you might say something like

31
00:01:13,002 --> 00:01:16,003
this SWOT analysis provides a concise breakdown

32
00:01:16,003 --> 00:01:19,008
of the most relevant factors facing ABC LLC.

33
00:01:19,008 --> 00:01:21,006
First, let it be acknowledged

34
00:01:21,006 --> 00:01:25,004
that ABC LLC has far more strength than weaknesses.

35
00:01:25,004 --> 00:01:27,002
The company's most important strengths

36
00:01:27,002 --> 00:01:29,004
are its industry specific knowledge,

37
00:01:29,004 --> 00:01:32,005
education and training et cetera.

38
00:01:32,005 --> 00:01:34,000
As you can see in the example,

39
00:01:34,000 --> 00:01:36,008
I'm going to outline the four sections in an overview

40
00:01:36,008 --> 00:01:39,000
this allows an investor to have perspective

41
00:01:39,000 --> 00:01:42,002
on your business position and your level of commitment.

42
00:01:42,002 --> 00:01:43,001
Take some time here

43
00:01:43,001 --> 00:01:46,000
and really be creative with how you present the information,

44
00:01:46,000 --> 00:01:47,005
but make sure you keep this section

45
00:01:47,005 --> 00:01:49,007
between three to four paragraphs.

46
00:01:49,007 --> 00:01:52,006
This is your opportunity to showcase the amount of thought

47
00:01:52,006 --> 00:01:55,006
and planning you have done to support this business.

48
00:01:55,006 --> 00:01:57,007
Now that you've completed the overview,

49
00:01:57,007 --> 00:02:00,002
lay out the bullet points of your analysis,

50
00:02:00,002 --> 00:02:02,000
each section should have three to five points.

