jRELATIONS OPERATIONAL SWOT ANALYSIS
STRENGTHS Balance & Diversification – We offer our clients variety in public relation areas & marketing strategies. Experience – We are the best at what we do! Driven – We are passionate & enjoy helping people. Organization – We have set attainable goals as well as a plan in which to attain them. Social Media & IT Savvy o Twitter, Facebook, LinkedIn, YouTube & more Practice Effective Outsourcing Conveniently Located
WEAKNESSES We have not established a reputation or developed a solid client core Too many services & projects are having to be outsourced We are relatively small in terms of staff
OPPORTUNITIES Potential for New Clients in Various Areas o Entertainment Industry Travel – Airlines, Hotels & Resorts Local Venues – Wakeboard Park, Lazy E, Clubs o Science Sector – Alternative Fuels, “Green” Solutions o Education Sector – UCO, OU, Rose State, OSU, SNU, OCCC, OCU as well as lower public education levels Economy o Bank on the fact that advertising is down – PR is more effective as well as necessary o Companies laying off employees they will have a need to outsource PR, marketing & advertising.
THREATS Current failing economy Lack of advertising as well as word of mouth All around budget restrictions due to the slowing market Other PR firms Marketing & advertising agencies Organizations that operate completely internally
ROLLING WITH THE PUNCHES While we have yet to establish a viable reputation in the market, as well as lack some necessary rapport, we still have the opportunity to service our current & loyal clients. The educational background of our team members has been a major contribution in conducting our business. The growing entertainment & travel industry, as well as alternative fuel industry, are also opportunities for us. We plan to continue to work with them as we gain reputation in the market.
BUSINESS PLAN TIMELINE (2009 Goals) March – May: Complete business plan June: Present business plan and financial needs to bank Mid-June – August: Begin advertising efforts; build customer base; complete Web site launch September: Rent office space; purchase furniture and electronic equipment October-December: Open for business (continue to refine initial market as needed)
BUSINESS PLAN TIMELINE (2010 Goals) January: Evaluate customer satisfaction and tweak necessary areas (create advisory board if needed) February: Review financial situation internally and enhance efficiency as needed March: Re-evaluation with banker