InDigital SWOT

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InDigital SWOT by Mind Map: InDigital SWOT

1. strengths (Internal)

1.1. Innovation Warehouse coming online

1.2. V1.0 already released

1.3. Strong team

1.4. Strong track record on events

1.5. Strong existing Networks

1.5.1. Access to Suppliers via T&S's contacts & Mashup

1.6. Scraped database of target market

1.7. Agility to change fast with feedback/iterations to match opportunities - no cannibilisation/legacy system/internal politics issues

2. weaknesses (Internal)

2.1. Bootstrapping until investor attracted (no major initial marketing budget)

2.2. Small team = limited time resources

2.3. Limited development resource

3. Opportunities (External)

3.1. Anecdotal 'need' for this service

3.2. First in market within this market segement/vertical

3.3. If clients can be attracted, premium suppliers will want to join (supply/demand)

3.4. Success of platforms such as Odesk show potential for outsourcing project services as this one

3.5. Growing market need for digital suppliers

3.6. If right mix of trust, education and confidence is communicated to clients: Gap in market is there to be 'the go to place' for grown up digital suppliers

3.7. Can save clients time (faster) and money (more competitive)

3.8. Takes advantage of 'Just in Time' method of hiring

3.9. Linkedin Professional web recently released

3.10. Opportunity if offer is articulated in compelling way

3.11. Create demand from clients as needs/fears are addressed

3.12. Proven business model within other verticals (food)

4. Threats (External)

4.1. No proof clients will use service

4.2. No exisitng product like this = Client education and behaviour change required

4.3. No proof suppliers will pay (although is clients are posting jobs, little worry on this)

4.4. Service does not require regular interaction, risk clients will 'not think' of Indigital when they require a supplier and use established offline networks to find a supplier instead

4.5. Competing against established networks & Connectors who know people

4.5.1. i.e. 'I'll call Dave, he knows people in this area'

4.6. Competiting against personal referals which have large 'trust factor' baked in. Must build large amounts of trust to compete with this

4.7. Clients may not feel confident in what they're look for

4.8. Already have preferred suppliers

4.9. Suppliers don't see the value/pay

4.10. Competitiors follow

5. Summary

5.1. Need to establish early if anedotal evidence of client demand is support by real life demand

5.2. Success relies on client

5.2.1. Initial Awareness

5.2.2. Ongoing awareness (reminding)

5.2.3. Education

5.2.4. Trust