SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis
Before completing a SWOT analysis it is often better from your brand work to have defined your goals, strengths, skills and attributes, coupled with your experience and knowledge.
The SWOT will then help you truly decide if it’s the right opportunity for you. Also, if you decide to say yes then this analysis will help you put the necessary plans in place to ensure that you achieve the goals you have outlined in your ultimate vision and be more successful.
Review what you know about the opportunity and the marketplace to this point. Fill out the four quadrants in the SWOT Template, considering the following;
Strengths – Those skills, attributes, abilities, credentials etc that set you apart from others. What can you offer that no-one else can?
Weaknesses – Those areas that need improvement because they are essential to successfully reaching your goals. Identify those weaknesses that will prevent you from reaching your goals.
Opportunities – Look at both your strengths and weaknesses and see if there are opportunities that you had not considered before.
Threats – Look hard to find those things that could get in the way of your achieving your goals. They could be outside your control or perhaps you’re being more aware of them will enable you to put a threat mitigation plan in place. These are typically external factors but could be items that relate to your weaknesses.