SWOT Analysis

Posted: March 28, 2009 in General

Strengths – Weaknesses – Opportunities – Threats (SWOT)

Answer the following questions in each category. than think of additional SWOT statements specific to you and your business.

To gain an even broader picture, once you complete the SWOT Analysis, run through it again as though you are one of your competitors. Obviously, you will have less inside information on this perspective, but flipping the point of view to another business owner with a different set of apparent strengths and weaknesses might give you some interesting insights.

Keep your answers short, simple, specific, and realistic.

Strengths

  • What is your strongest business asset?
  • Do you consider your team strong? Why?
  • What do you offer that makes you stand out from the rest?
  • What unique resources do you have?
  • Do you have any specific marketing expertise?
  • Do you have a broad customer base?
  • Additional strengths

Weaknesses

  • What can be improved?
  • In what areas do your competitors have the edge?
  • What necessary expertise / manpower do you currently lack?
  • Do you have cash flow problems?
  • Are you relying primarily on just a few clients or customers?
  • Additional weaknesses

Opportunities

  • What trends do you see in your industry?
  • What trends do you foresee?
  • What trends might impact your industry?
  • What external changes present interesting opportunities?
  • What have you seen in the news recently that might present an opportunity?
  • Additional opportunities

Threats

  • What obstacles do you face?
  • What is the competition doing that you’re not?
  • What challenges can be turned into opportunities?
  • Are external economic forces affecting your bottom line?
  • Additional threats

Did you consider…?

The following might be strengths or weaknesses for you. If you have not included them in your SWOT Analysis, consider if – and where – they should be added: location; web presence; company image; quality; service; pricing.

The following are additional items to consider, if you haven’t, as potential opportunities or threats: price wars; technology shifts; mergers (your or a competitor’s merger opportunities, plans, or progress); joint ventures (your or a competitor’s joint venture opportunities, plans, or progress)

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