a SWOT Analysis intro

This is a copy of my free downloadable document here.

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SWOT is a tool for strategic analysis used by entrepreneurs and business in any market and of any size, they are used to analyze a company and the market (environment) in which it operates.

A SWOT analysis, depending on the type of business you are getting into, can be more effective in helping you understand your business model and your market than spending time writing a business plan is outdated as soon as you click save anyway. 

Understanding: Strengths, Weaknesses, Opportunities, &  Threats.

The information is organized into internal and external factors:

1.     The internal look of a company’s operations and identifies what is being done well and what areas need improvement. It provides a foundation for further insight from the most obvious strengths and weaknesses. These are then used to dig further into what else is being done on a micro-management level whether good or bad, and so giving more leverage when is time for corrections and allows improvement from the ground up.

2.     An examination of the external factors affecting a company’s market stake. This again, provides a foundation for further digging based on the most obvious trends in operations by competing or parallel market companies that might be deterring growth for a company. This section identifies external threats and provides opportunities for the company to also understand its competitors.

Below is a standard SWOT analysis sheet for your use, it is encouraged to also complete one for yourself as the management and founders of any company are key factors to any success the idea or business will have. Understand where you fit in your own business model.

1.     Compare your skills against what your company’s SWOT revealed and identify the gaps, this can yield very helpful information and save you time and money in the long run. 

2.     Don’t cheat and try to complement the first SWOT with your second, and you should always do the business SWOT analysis first, because is what will most true, your personal analysis should follow and only helps if is done with complete honesty.