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Aspiring Lawyers - Applications & General Advice
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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<blockquote data-quote="ajeya" data-source="post: 133970" data-attributes="member: 27715"><p>PESTLE</p><p></p><p>P: Are there any small business subsidies or tax breaks being offered by the govt.? Are there any conflicts or sanctions occurring in the country I import my beans from that will interfere with bringing them over?</p><p>E: Will I need to fundraise (find investors or get a loan) to help start this up? What are the current interest rates, if they are high, would it make sense to wait until they are lower? Where will I set up shop for this business? Are mortgage rates particularly high for commercial properties? Would it make more financial sense to rent a place?</p><p>S: Who are my target group? E.g., if I set up in a business district of London will I be catering to busy professionals? How do I make my products more appealing to this group? Are there any initiatives I could introduce like order online or reserve a place in queues to avoid long waiting times for them? How do I make my business attractive to a diverse range of people? Can I cater to various religious / cultural holidays? How do I make any food / pastries I offer attractive to different faiths / cultures?</p><p>T: Can I enable online orders? Can I incorporate tech to reserve places in queues? How can I ensure all machinery will be worth it? How can I use social media to expand brand? Find influencers who will promote?</p><p>L: How do I ensure all proper planning permissions / registrations are completed when I set up shop? How will I ensure my products satisfy consumer health guidelines? Is my shop / all machinery and furniture in my shop child-proof and safe to use?</p><p>E: How can I minimise carbon footprint when importing food / coffee beans? Can I choose suppliers who use sustainable machinery to grow beans? Can I use companies that use EV trucks to deliver beans? What ingredients can I source locally?</p><p></p><p>SWOT</p><p>S: High demand for aesthetic coffee shops that offer homebrew, alternative options. Chance to create own recipes / coffee blends that are different to established ones. </p><p>W: Bit of a saturated market for start up coffee shops, how can we stand out? Will have to compete with big brands like COSTA who have been slowly taking over the market and squeezing out smaller shops. </p><p>O: can use social media to stand out from the crowd and push the home-grown, start up feel. This will be a refreshing alternative to big, branded coffee shops. Can offer meals too like brunch or pastries to offer more variety. </p><p>T: high interest rates will make make mortgages and start up business loans more expensive. Ukraine War means higher than ever energy and utility bills.</p></blockquote><p></p>
[QUOTE="ajeya, post: 133970, member: 27715"] PESTLE P: Are there any small business subsidies or tax breaks being offered by the govt.? Are there any conflicts or sanctions occurring in the country I import my beans from that will interfere with bringing them over? E: Will I need to fundraise (find investors or get a loan) to help start this up? What are the current interest rates, if they are high, would it make sense to wait until they are lower? Where will I set up shop for this business? Are mortgage rates particularly high for commercial properties? Would it make more financial sense to rent a place? S: Who are my target group? E.g., if I set up in a business district of London will I be catering to busy professionals? How do I make my products more appealing to this group? Are there any initiatives I could introduce like order online or reserve a place in queues to avoid long waiting times for them? How do I make my business attractive to a diverse range of people? Can I cater to various religious / cultural holidays? How do I make any food / pastries I offer attractive to different faiths / cultures? T: Can I enable online orders? Can I incorporate tech to reserve places in queues? How can I ensure all machinery will be worth it? How can I use social media to expand brand? Find influencers who will promote? L: How do I ensure all proper planning permissions / registrations are completed when I set up shop? How will I ensure my products satisfy consumer health guidelines? Is my shop / all machinery and furniture in my shop child-proof and safe to use? E: How can I minimise carbon footprint when importing food / coffee beans? Can I choose suppliers who use sustainable machinery to grow beans? Can I use companies that use EV trucks to deliver beans? What ingredients can I source locally? SWOT S: High demand for aesthetic coffee shops that offer homebrew, alternative options. Chance to create own recipes / coffee blends that are different to established ones. W: Bit of a saturated market for start up coffee shops, how can we stand out? Will have to compete with big brands like COSTA who have been slowly taking over the market and squeezing out smaller shops. O: can use social media to stand out from the crowd and push the home-grown, start up feel. This will be a refreshing alternative to big, branded coffee shops. Can offer meals too like brunch or pastries to offer more variety. T: high interest rates will make make mortgages and start up business loans more expensive. Ukraine War means higher than ever energy and utility bills. [/QUOTE]
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