THE BOARDROOM
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
It’s a simple yet powerful framework to assess where your business stands and how to grow.
Here’s how to conduct a SWOT analysis the right way:
1. Identify Your Strengths:
What gives you a competitive edge? Brand reputation, customer loyalty, or unique offerings?
2. Assess Your Weaknesses:
Where are you struggling? Low conversions, slow operations, or inconsistent marketing?
3. Spot New Opportunities:
Market trends, untapped audiences, or competitor weaknesses you can leverage?
4. Prepare for Threats:
Competition, industry changes, or shifts in consumer behavior that could impact your business?
The key isn’t just filling out a SWOT chart, it’s using what you learn to make strategic moves that drive real growth.
Marching Orders for the day:
Set aside 30 minutes to conduct a SWOT analysis. Identify one action based on your findings, whether it’s improving a weakness, capitalizing on an opportunity, or strengthening an advantage.