Friday, April 13, 2018

Intro to SWOT Analysis - Made Simple

Friday, April 13, 2018

On of the best teachers is Trial and Error.
Yes and as a serial Entrepreneur, I have had my share of lessons. 

Starting, running and sustaining a business is a hard road, but a very rewarding one.  There is no one formula for success, but there are certainly process which should be followed. 

After obtaining the necessary business credentials, or even if you’re just thinking about starting your business, you should consider conducting a SWOT Analysis to identify your company’s (or your individual) STRENGTHS, WEAKNESSES, OPPORTUNITIES AND THREATS. 

Begin with things that you can control internally – the Strengths and Weaknesses.

Your Strengths will help you to identify your position against competitors.

Your Weaknesses can help uncover current and future threats. 

Then focus on the external things that you have no control over – Opportunities and Weakness. 

You may not have control over Opportunities, but you can certainly leverage yourself to take advantage of them.

You many not have control over Threats, but you can prepare yourself to counter attack.

That will help with your next task.  Completing a Business Plan, which is your ROADMAP TO SUCCESS. 

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