Every organisation needs a clear strategy in place for growing its business. And every career needs focus and direction. But how do you know where to begin? This is where SWOT analysis comes in useful.
SWOT stands for:
Strengths
Weaknesses
Opportunities
Threats
By analysing these four areas of your business or career, you will be able to cut through the noise and focus on what really matters. You can use SWOT analysis to identify a niche in your market or to help develop your career. When you understand your strengths and weaknesses, you can exploit the most relevant opportunities and manage threats that may otherwise have surprised you.
To start your SWOT analysis, print off my free worksheet. Give yourself time to consider each of the four areas in depth. Try to be as realistic and as rigorous as you can.
Starting off with Strengths, ask yourself some key questions:
What advantages do you or your organisation have?
What do you do better than anyone else?
What do people in your market see as your strengths?
Moving on to Weaknesses, ask yourself:
What could you improve?
What should you avoid?
What factors lose you sales?
What do outsiders perceive as your weaknesses?
Next you will want to consider where your best opportunities lie:
What interesting trends are you aware of?
What advantages might arise from changes in technology, government policy, social patterns, etc.?
Most importantly, what options do your strengths open up for you?
Finally look at Threats. Ask yourself:
What obstacles you and your organisation face?
What is your competition doing that you should be concerned about?
Do you have bad debt or cash flow problems?
What threats do your weaknesses expose you to?
When you are finished, you will have made a good start on creating an effective strategy for your SUCCESS.
For more information about business coaching and business consulting services, contact me:
083 256-0378 | This email address is being protected from spambots. You need JavaScript enabled to view it.
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