S.W.O.T.

Business S.W.O.T. Analysis

This is a powerful business tool that allows you to take a close look at your business. All businesses have strengths, weaknesses, opportunities and yes, threats. Strengths and weaknesses are often internal to your organization. Opportunities and threats can be external factors. Let’s break each one down in manageable chunks that you can use more easily.

*STRENGTHS  

What advantages does your operation have?

What do you do better than anyone else?

What are your operations “unique selling propositions”, the secret sauce?

What do customers and competitors see as your strengths?

What factors are in your operation that means “you get the sale”?

*WEAKNESSES

What needs improvement, staff, processes, sales and marketing, cost of sales?

What are doing that you should avoid?

What have customers and competitors in your market identified as a weakness?

What factors are losing you sales?

Consider your strengths and weaknesses from both an internal perspective and from the point of view of your customers in your marketplace. Do you have some trusted customers that you have identified with whom take an extra special interest in your business? You might consider   asking them for some feedback, most people will be more than happy to give an honest opinion if you take the time to ask. How about your staff? These folks are in your operation working with your customers, why not ask for some feedback and see what you can learn.

*OPPORTUNITIES

Are there opportunities open to your company that you can spot?

What interesting trends can you identify that you can take advantage of?

Are the products or services you offer changing?

Are there changes in technology that could be helpful or maybe impact your business in a negative way?

How about any new regulations or compliance issues?

Are there any identifiable shifts in social patterns, population profiles, lifestyle changes that can help your business?

Is your business offering what the customer wants to purchase?

*THREATS

What threats do you face, what is holding you back?

Do you have any bad debt or cash flow issues?

Is ever-changing technology threatening your operation?

What are your competitors doing?

Are quality standards, specifications or expectations for your product or service changing?

Are you losing longtime customers and not enough new ones coming in?

We can all learn something when we make time and look at our business to identify what works and what does not. As a business owner or manager you can be so focused so much on the day to day workings that you miss the big picture. You know there is a mental list in your head of items in your workplace that need attention. Write them down, prioritize them and work toward the change you want and it will come about. And remember that there are no problems, only solutions that you have not found yet!  Be proactive and take charge today.

If you would like some assistance in performing a S.W.O.T Analysis on your business please call 1-877-776-1059 and ask for Richard or DeeDee @ Ford Business Consultants.