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SWOT Analysis: The Questions You Should Ask Yourself

Although times have changed and the way of selling has turned 180 degrees, there are some techniques from the old marketing that we can inherit to know the scenario where a brand, a product, a company develops. That is the case with SWOT analysis . Also known as SWOT or Dofa analysis, it is a very effective method to know everything that can influence the growth or decline of a brand, product or company. Eventually, companies settle for knowing the competitive advantage that can help to highlight their product and, based on that data, create strategies to strengthen their brand and make it survive in the market . It turns out that with SWOT analysis, there is not only an opportunity to know the advantages that put you above the competition. This method will give details that go beyond knowing channels to connect with the niche. This type of analysis will make you see clearly everything that has to do with the process of reaching success and staying as firm as possible. External factors such as political, environmental and cultural can be managed if you know how to take a proper approach. What is a SWOT analysis SWOT is the acronym for Strengths, Weaknesses, Opportunities, and Threats . In what we know as SWOT or SWOT and it obeys the weaknesses, opportunities, strengths and threats. This method can be used both to make a simple personal decision, and to make decisions that change the direction of a company. How to increase my sales with Content Marketing There are those who believe that deciding the future of a company through SWOT analysis is simple, but the truth is that this goes beyond being aware of weaknesses and strengths. In theory, it may sound very practical, but when you start to know details about the environment of your company, you will see that the matter is serious and there are many factors that affect the image of your brand. Wha é says wikipedia? “It is a tool to know the real situation in which an organization, company or project finds itself, and to plan a future strategy. This resource was created in the early 1970s and produced a revolution in the field of business strategy. The objective of the SWOT analysis is to determine the competitive advantages of the company under analysis and the generic strategy to be used by the same that suits it best based on its own characteristics and those of the market in which it operates. ” To give continuity to the concept of Wikipedia , we believe that those who practice it have solid foundations to create and implement strategies that refuse to die despite the difficulties of the environment. This is so, because from now on, you can predict what will happen in the future. Wha é says Thompson and Strickland on the SWOT analysis? Both earned part of their reputation as university professors in the United States and as business strategists. AJ Strickland sees Dofa analysis as building a strategic balance sheet. This should be based on creating strategies with stronger competitive assets than competitive liabilities. For his part, Arthur A. Thompson, clarifies that the most important aspects of SWOT analysis are strengths and weaknesses . It recommends taking into account strengthening elements such as: The capabilities of the key areas of the company (Customize it to the issue you want to evaluate) Financial resources. Cost advantages. And contrast them with the aspects that weaken the strength of the company: Deficiency in monitoring strategies. Delay in monitoring and development (company, product, service, brand, etc.) Weak distribution network. It is clear that these points are referential and in each case should be evaluated cu to are their true weaknesses and strengths. Situations in which a SWOT analysis is useful As we mentioned a few lines ago, SWOT analysis is not only useful to know the environment of a company, there are situations in which this method will be of great help to define the destination of the object to be studied. We recommend implementing it, in situations like these: Investment opportunity. Scenario to make a new acquisition. Know the market . In this case, to know if a product or service will have a growth opportunity. Change provider. New business idea. Analyze new methods or instruments to distribute products. Questions to ask yourself to put the SWOT study into practice SWOT analysis Learning to know yourself is a basic principle of life itself and in the field of business it is more valid than we can believe. Doing a Swot analysis will help you to get to know yourself as a company and in turn to understand the environment in which your online business lives. But in order to find the answers that will make you create a successful marketing plan , you have to learn to ask yourself the right questions. With regard to strengths, ask yourself the following questions: Is it price, value or quality that sets me apart from the competition? If none of this can make you stand out, the next question would be: Wh to l is my competitive advantage? What innovative elements will make me stand out in the market? Does my market prefer value and quality over price? or on the contrary Is the price of my product and / or service what you prefer? In reality, there are many questions that can arise when you start studying the competition . These may be the most common. Get together with your team of marketers and brainstorm ideas. They are great for finding solutions and answers. Now, we will try to generalize the questions that will arise when analyzing your weaknesses: Wh to to them the disadvantages of my proposal ? Disadvantages when covering my capacity in the market? Does my proposal lack competitiveness? Is my reputation good enough that the client will accept me? Will I be able to meet the stipulations of price, date, value or quality of the product in the long term? If you are an entrepreneur looking to position a brand by fist force, it is likely that at the end of the SWOT analysis, you feel that you have more weaknesses than anything else. Do not be overwhelmed, when weaknesses are solved, you can turn the environment into a world of opportunities, even if new questions arise, such as: Wh to are they the failures of competition ? Where are the market trends heading? Will I be able to launch new products or services in the face of market trends in the near future? Is there an opportunity to expand my capabilities in the market? Ż C or how I can manage my favor influences the market? In general, opportunities arise as the business goes, it ‘s a matter of having the ability to catch them as time goes by. Threats are the point of instability of any business, you have to be prepared to face them and be able to keep the business stable, despite the difficulties. Let’s do a review: Wh to l is the situation pol í tica, economic and social environment where I intend to develop my business idea? Are these optimal for me? Wh to l is the positioning of competition in the market ? Wha é puts them at an advantage over me? Wh to are the weaknesses they could not overcome? What is the market demand? Can I meet the needs? Will my finances allow me to cover the needs of the niche? There are external factors that we must look and study carefully, such as: The seasons of the year, fashions or trends, among other things. SWOT analysis example Let’s imagine that you are the owner of a shoe business that is located in the center of the city with several branches in places with a lot of influx of potential customers and consumers in general. You are a 60-year-old man married to a 55-year-old woman, together with their two children they make up the Esposito family. Your grandparents and parents have been part of a generation dedicated to the footwear trade and they know everything about the product. In total she has more than 100 years in the shoe business. Now your family is dedicated to the business, your wife and eldest son work full hours, while your youngest son partially, since half of his time is dedicated to studying for his university degree. The business has registered few sales because fashion is focused on a more “modern” and cheaper type of footwear. Your shoes are styled after a line of classic Italian footwear. A luxury, but expensive Your oldest son is 30 years old, he has a wife and a baby who has just arrived in this world, he depends on the profits of companies to support his family. With the economic situation so heavy, he thinks it would be a good idea to start his own shoe business, but this time by becoming a supplier, he wants to make shoes. But doing that requires hiring more knowledgeable staff and managers to grow the shoe factory. However, not everything is bad, the Esposito family has a great store that, when investing money, can be the perfect location to start the shoe factory. While your youngest son is about to get his college degree in entrepreneurship, but would not want to go into the family business. Now, in front of this fictitious scenario, we are going to carry out a SWOT analysis taking into account the whole family situation. Strengths The Esposito family has been in the market for more than 100 years. They know how to support themselves in times of crisis. They don’t spend much on employees, as the family helps in the business. His shoe style is elegant and classic. According to the style of the shoe, they already have a niche (You may not know it) They have a relative (youngest son) who knows about entrepreneurship. Weaknesses There is no invention. They have stayed with the classic line in their footwear. The business must support two families. Less capital to invest. The youngest son does not want to continue working in the shoe business. They will need to hire more staff for the new project. Opportunities They are strategically located in areas. The sales opportunity can increase by leaps and bounds. Your oldest son has great business ideas that will grow your business income. They will be able to cover more space in the market. They have the potential to become a large industry in the field. They own a store that has the potential to become a shoe factory. Threats The competition is gaining ground, while they lose customers. Her youngest son, who knows about entrepreneurship, does not want to continue collaborating in the family business. There are risks of losing a great help, a true talent. The market presents better and cheaper options. The trends of the market and consumer tastes have changed. With this example, we hope we can make it clear how to do a SWOT analysis  to study the environment of your company, brand or product. Tips for doing an analysis of your environment You have to try to be as honest as possible about the weaknesses of your brand or company. It is useless that you are clear about the opportunities, if within your defects you will find obstacles to advance. To do a #SWOT Analysis you have to be honest about the weaknesses CLICK TO TWEET Do not extend yourself more than you should, do not try to find solutions to everything, prioritize the inconveniences of your company. And finally, don’t just stay with Swot analysis, there are more methods that can help you refine details, such as PEST analysis . Although many often confuse it, it must be clarified that it is not the same. The main differences are that the PEST is based on analyzing external factors , those that are capable of affecting the business, but without the minimum performance of it. That is why we recommend using it, as it will assist you in knowing all the details outside of your actions to know the growth opportunities of your business. In general, it is done before doing the SWOT analysis and based on the data that it gives you, you will be able to evaluate if it is necessary to deepen with the PEST. Remember, start it up, being aware of your mistakes and threats.

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Crypto

How to Create Account in EXMO step by step

In this article you will learn how to register in EXMO in 2022, as you well know it is a cryptocurrency platform to trade, as well as buy and sell digital currencies. Next, we are going to make you a quick and easy guide to create your account.

How to open an account in Exmo.com step by step

Access the official website of EXMO to be able to register for free.

Select “Registration”

At the top right you will have a Registration button, click on it and there you will open a form to place basic data such as username, email, telephone, password and its confirmation, as well as the acceptance of terms and conditions of the platform.

Likewise, if you want you can subscribe to receive news you just have to activate the option. then activate the captcha and click on “Registration”

Phone and email verification

They will send you an SMS to the registered phone to place the verification code and give it confirmation. The same will happen with the email, in which they will send you an email with a link to confirm the account and activate it.

Account Verification

Once you have completed all the registration, you must verify your account, this is quite important that you do it so that you do not have limitations, it is a financial platform and as such, by regulation you must verify your identity and address.

  • For identity, you can do it through your ID, passport or other identity document, also a selfie with the document, you can support yourself by linking the mobile if you do not have a webcam.
  • In the case of the address, it would be verified with a bill for services such as electricity, water or other document where they can verify your location or residence, this is to raise the limits further.
  • For the card, you need to enter your card details and even take a photo and attach it.

Ideally, you should verify everything, but the first thing is the identity, in which you will be required name, surname, middle name in the case you have. Secondly, you will be asked to identify what type of document you are going to use to identify yourself, for example, the DNI.

After that, you must upload a photo of the front and back of the identity document, if you do not have them at hand, you can do it with your mobile and send it to you by mail or web whapsapp or another application, and then upload it from the computer.

Once this is done, it will request a selfie with specific details, where you must write down on a paper the word EXMO, followed by the date of the day of the photo and hold the DNI without covering anything, there you capture the photo and attach it, with these steps you will already be in the process of verifying the identity.

Likewise, you can do it to verify the address with a receipt and in the case of the card you must do the same, they are similar processes quite simple, the idea is that you complete the entire registration process.

Configuration

Another important point regarding registration is the security configuration in which you can add extra protection and have two-step authentication. Likewise, you can observe other options such as personal information, which you can review carefully.

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Crypto

How to create an account on Poloniex step by step

In this article you will learn how to register with Poloniex in 2022, it is a cryptocurrency trading platform, where you can trade with margin or leverage and you can also do hodl. Here’s a step-by-step way to create an account on Poloniex.

Go to the official website of Poloniex

Access the Poloniex registration page to later follow the step by step that we will give you to register for free.

Select “Sing Up”

Once you are on the platform you must select in the left menu “Sing Up”, where you must enter the email and password, the latter you must confirm it. Additionally, you must place the referral code (optional), as well as accept the terms and policies that govern this page.

Verify your email

Once the previous form has been completed, you must check the email where a link will be sent for the purposes of verifying the email, in order to continue with the account registration process.

Account access

With the email and password data entered, we select “Log In” and access. Among the important things that there are is the “profile”, where you will have to verify your account.

If you want to apply margin for trading or leverage you must verify your profile in “Upgrade” you will be able to select other aspects that will help you verify your identity, you will probably be asked to upload a file, such as a photo of the DNI or an invoice to verify the address.

Then, in the event that you want to use the future option that allows margin up to one hundred leverage, you have to have verified these things.

This request is totally normal, since it is required by all financial platforms by legal issue, with this you would already have verified level 2 and with it you would not have any type of limit.

Right now, you could make all kinds of deposits, normal purchases with certain fairly high limits.

Two-factor authentication verification

To protect your account you can activate 2FA this is double authentication code, so you must enter a code apart from the password to be able to log in.

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Crypto

How to Invest in Cryptocurrencies on Skrill

If you are one of those investors who do not like to deal with many complicated orders, but prefer to hold long-term, then Skrill is an excellent alternative for you. With the simplicity that characterizes it.

But the question is, how to invest in cryptocurrencies within Skrill? The answer will be shown in this article.

But first log in to your Skrill account, then you could already start the step by step that will be shown below.

Access Skrill’s Cryptocurrency Investment Options

Like any financial platform, Skrill puts at your disposal tools so that you can invest in cryptocurrencies within yourself, doing so in a simple and comfortable way. To access these tools, below, we will describe the following procedure:

  1. Within the home screen of your account, in the left sidebar, find and tap on Cryptocurrencies.

Important: It is likely that when you enter this section, you will be asked to accept some terms or similar.

  1. Once there, you are presented with different options in terms of cryptocurrencies. From among these, you will select Invest now, clicking on this option.

  1. Once you access that section, you will be shown an extensive list of existing cryptos in Skrill. In each of which, you are given a Trade option. If you click on any of these, you would enter their trading options.

  1. When you have entered the crypto you chose, you will see a Buy – Sell panel.

Ways to trade cryptocurrencies in Skrill.com

In this buy-sell panel or trading box, you will have some options that will allow you to perform these operations:

Steps to buy cryptocurrencies within Skrill

First of all, talking about the purchase of cryptocurrencies in the Instant mode (which is the usual one), you will be able to do the following:

  • Select the currency in which you want to buy cryptos.

  • Set the amount to spend that, for its purposes, must be a minimum of 10 EUR (You are also shown the balance you have available).

  • Select the cryptocurrency in which you are going to invest.

  • See what you are going to receive in cryptos in equivalence for what you have invested.

  • See the commission you will be charged for that transaction.

When you have everything ready, then you can click Next.

After this, you will be able to see the summary of the entire operation; you will be told everything you have added, such as the amount and what you would receive, and also the commission charge, which will be added to the total amount to be spent. If you agree with everything, you can click on Confirm.

Steps to Sell Cryptocurrencies within Skrill

There is not much to comment on in the case of selling your cryptos within Skrill, as they are basically the same steps as in the case of the purchase:

  • You establish the type of crypto that you are going to sell (and that logically, you should own).

  • You indicate the amount of cryptocurrencies to sell directly or, if you prefer, using the percentage indicators.

  • Select the currency in which you want to receive the funds in equivalence.

  • See how much you will receive, in the same way as the previous case.

Having this ready too, you would click Next.

Following this, you must also click on Confirm in a summary similar to that of the case of the purchase, where you will see important data with which, if you agree, you can proceed to the respective confirmation.

Some other options that Skrill gives you to trade

The options you have in Skrill to trade are very practical and easy to use. And for your convenience, they are not numerous. Here’s what you can find on Skrill for when you want to trade on it:

The Portfolio section

In this section you have at hand some useful things for your negotiations, such as:

  • The Watchlist, with which you can keep abreast of the indices of your cryptos in the market.

  • Alerts and orders. With these options you are given the possibility to mark an index within the cryptocurrency, which, if the price reaches it, this will be notified to your email or mobile, as you have it configured.

  • Recent activity. It is the section where you will get your last financial movements, when it comes to purchases and sales, as is logical.

The Trade section

Within this section, you can do what you are told below:

  • Visualization of Graphs. This will allow you to take a look at the stock market movement in a not at all complex interface (you can also see the current trend that the market has in terms of sellers and buyers).

As you can see, the trading system within Skrill is not complicated. They are few and simple options, but with the same utility for people like you who do not want to get too entangled in the stock market issue, but to play it safe, but in a simple way.

This tutorial summarizes it this way so that you have a general idea when investing in cryptocurrencies within Skrill.

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