Did you ever find yourself to be overwhelmed by a word or a phrase you didn’t understand? Matthew was like that when he looked at the wording of the business plan and saw that we had to complete a ‘Marketing Audit’. ‘What is a marketing audit when it’s at home?’ he asked me so to break it down into bite sized chunks, he started with a SWOT analysis.
He said later that he really felt he was grasping the mettle and I didn’t understand what he meant but when we looked it up, we discovered that although it is a commonly used phrase to mean taking something on with determination and stead, the correct form is ‘grasp the nettle’ because although a nettle will sting if brushed against, if you grasp a nettle firmly it won’t sting you. If you have the strength of character to grasp the nettle firmly, it won’t sting and you will progress, by the same token, taking on something that seems difficult won’t be as scary or as difficult as you first think.
At the time that Matthew completed our SWOT (Strengths, Weaknesses, Opportunities and Threats) for the ‘Marketing Audit’ part of our business plan, he discovered that one threat was that some mice were reducing their intake of cheese and were eating more fruit and even dark chocolate. With the recent move to forbid the advertising of foods containing fats which includes cheese, we were a little worried that it would affect our sales. Sales of some of our cheeses are decreasing and we are wondering are one of the threats we identified becoming a reality.
We must think of a way to identify how to address this – perhaps we should work out which market segment (e.g. professionals, parents or elderly mice) were purchasing the cheeses that have become less popular and see if we can then do anything about it.
We’ll let you know in our next blog post 🙂
And if you’d like to read all about how we set up our business, did you know that you can purchase our book online as a paperback or as an e-book.