A SWOT analysis always comes in handy. As we fill out each category, it allows is to visualise internal and external conditions that could be improved, and just as equally, express gratitude in the strengths.
If you’ve never done one before, here’s a little summary. . .
SWOT stands for:
S – Strengths
Look at what you’re currently doing that is working for you. What are your strengths? What sets your capabilities/business apart from others? What unique capabilities and characteristics do you possess? What do others perceive as your strength?
W – Weakness
What are your weaknesses? What do you feel you need to do to improve in your capabilities or next steps? Do your fears trigger a weakness? Go in full detail, no judgement here!
O – Opportunities
Do you have any opportunities available to you? Are there options you have not explored yet, but see that there is a possibility? Have you explored market trends? Have you explored influences that are foreign but might be a new avenue?
T – Threats
What are some blockages you might face that you impede your company/personal growth? Are these internal or external blocks? Is it financially, politically, or environmentally related?
The great thing about using a SWOT Analysis is that it is applicable to your personal life, and business venture. It is a healthy tactic to use when you reach any milestone that requires further insight or development. Give this a try, see what works for you. Sometimes the best answers are right at your fingertips!
