Covid-19 SWOT Analysis
In what ways if any might the virus not effect your business?
As my business is an online-based service business, We have minimal need for in-person company proceedings which eliminates the risk of covid spreading through people meeting and such. as all business proceedings except for extremely necessary ones that would have to be in person would be online.
The virus would not effect the way the service works as it’s all online up until the point of employment, and even that can be done online or at home due to the recent uprise in online/remote jobs and freelancing opportunities, which is a positive for us, the fact that users could use the site as a replacement for going into agencies and seeking out jobs in person, and especially in the creative job market this is a huge positive for everyone involved, especially for students who may not have the confidence to showcase their talent in person.
What potential weaknesses does the virus expose within your company?
As my business is an online-based service business, the service would not be threatened directly by the “Covid-19 Pandemic”, there are a few ways it could slightly impact it but hopefully, there would be no direct correlation between COVID-19 and the downfall of my business, there are many ways to combat the different situations that coronavirus may put upon the business due to different companies already going through the same thing and releasing their combat resources to the public domain.
How might your company benefit from the virus?
Our company could benefit highly from the virus, in many ways, one huge way we could benefit would be the fact that many people are out of work, or straight out of education with no specific plan for their life, due to coronavirus changing the way the world works now, we can give a sense of direction to people and if those people find our website and decide to use it to get a job in the creative industry, that could potentially be a significant increase in the number of people signing up to our service.
There is no reason to at this point try and get an office, and even in the future as the company would have been run online for the previous year we could stay as a fully online company which would let us spend the money we would use on locations and the running of them on more important things such as the running of the company, marketing, paying our workers a decent working wage so they can live in this economy and the environment they are in right now, and more.
The website will also have a learning service, within which a user would be able to watch informative videos, talks by industry professionals, join live streams where they can learn, read articles and blogs on different informative topics, and more. This is a positive for us as instead of going to conventions where they can potentially learn these things in person, they can use our service to learn these things at a potentially faster rate and at the same time as multiple other users which they can talk to and get help from on the forums.
In what ways does the virus threaten your business?
Even if employment can be done online now, and at a great scale, there are a lot of jobs in the creative industry that can only be done in person, and because of that, we as a company are missing out on a big market of opportunities for our users which could result in less profit for us, but in all fairness, if the jobs aren’t available, they aren’t available, so we are not missing out on any untapped potential markets, and after coronavirus, we can seek out those jobs that have not yet been filled and put them up on our website which gains us profit as well as our users a potential job.
There is a limited amount of financial options for us as a business and our users, economic recession is causing severe financial challenges for everyone who is a part of current society right now, this may cause issues in funding and gaining capital as well as may cause issues with the number of people signing up to our plus service, we may have to spend less money on marketing and SEO, but I’m sure we will find a way around all of that as the monetary resources available to us are in abundance right now due to people already having gone through these problems and trying to help people who are at risk too.