S.W.O.T. Your Flies

by | Oct 15, 2010 | Planning Your Business

s.w.o.t. your flies
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Whether you’re creating a brand new business and marketing plan or are evaluating how you’ve been doing against it, a S.W.O.T. analysis can be a very useful tool.

What is a S.W.O.T. analysis you say? I have to admit that when I first came across the concept, I found it very difficult to understand. I’m hoping that this post will make your learning curve a bit shorter.

S.W.O.T. stands for

Strengths
Weaknesses
Opportunities
Threats

When you do a S.W.O.T. analysis, you take a look at your business and you list as many strengths, weaknesses, opportunities and threats that you can think of. The thing is, many people get confused about difference between strengths and opportunities, as well as the difference between weaknesses and threats.

Here are some guidelines:

s.w.o.t. analysis
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Once you have these things written down, you can take a look at them and think of ways to use this information to improve and grow your business.

  • What can you do to capitalize on your strengths?
  • What can you do to overcome your weaknesses?
  • What can you do to take advantage of opportunities?
  • What can you do to reduce threats?

 


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