Personal SWOT and Business SWOT – It is time to SWOT yourself and your business!
Most people have heard of a SWOT analysis – It is an opportunity to look at the pros and cons of the business you are looking to start of the opportunity you are going to take on and naturally you can also do it at any stage throughout your business life.
In a SWOT analysis you look directly at the Strengths, Weaknesses, Opportunities and Threats of an idea. Something different though is to look at a Personal SWAT so that you can analyse yourself in terms of a business entrepreneur.
- What Strengths to you personally bring to the business and if you are a partnership, do one for each of you. These strengths may be industry knowledge, passion, time, and much more. Make sure you are honest!
- What Weaknesses do you bring, this may be poor administration skills, poor marketing and more.
- What Opportunities do you personally bring through clubs you may be a part of, potential clients you already know etc.
- What Threats do you bring personally, this may be health issues, stress management, and anything else you may see as a personal threat.
- When looking at the business SWOT, what Strengths does this business have in the market place, what Weaknesses does it have, what Opportunities are these for this business and finally what Threats are there to the operation of the business, short and long term.
- The next important thing to remember is that you can change both the weaknesses and the threats before you even begin in business or it is something that you can do over time.
If marketing is a weakness, My Sassy Business can help if budgeting is difficult, we can teach you about drawing up a budget at My Sassy Business we are inspiring small business for success every day.
There is always something you can do to improve your knowledge and skills in business. My Sassy Business Learning
The earlier you figure this out and do something about it then the easier it will be for you to run your business and have long term success. Likewise, if you have political or legal threats how are you going to manage these over the life of your business? What will you do so that these threats don’t damage you or your business?
Please take the time to be as honest as you can with your answers and take a close look at yourself and your business. If you can know in advance some of the challenges you face then you are able to plan for those challenges, put money aside if you need to, and know what to expect if they pop up.
If you need help working through these then book in for a Sassy Vision or Brainstorming session.
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