#swotanalysis is a tactic businesses use to identify their strengths and weaknesses as well as the opportunities and threats apparent in the industry.
#SWOT is stand for: strengths, weaknesses, opportunities, threats
SWOT diagram typically contains four boxes.
Now, to conduct a SWOT analysis for your business, Here are the key questions that you need to ask to your self.
----------------------------------------
Full Video - • What is SWOT Analysis ...
----------------------------------------
1. Strengths
Answering the below questions can help you determine your strengths
What are you best known for?
How effectively do you use resources?
How fast do you deliver products?
Which of your products was the most successful?
What are the resources that are exclusive only to you?
Are your investors happy?
What are your unique selling proportions?
Do you have a loyal customer base?
Is your revenue predictable?
2. Weaknesses
Some questions you can answer to list down your weaknesses accurately.
What do your customers often complain about?
What are the financial resources you lack?
What is your human resource you lack?
Do you have enough technical expertise?
Are your products not innovative enough?
Are your expenses too high?
3. Opportunities
To identify opportunities, you can start by asking the following questions:
What are the current market trends that can increase your sales?
Which new government policies and regulations can benefit you?
Which upcoming events or festivals can you capitalize on?
Which recent technological changes can prove to be beneficial?
What are the social and lifestyle changes that you can capitalize on?
4. Threats
Asking the below questions can help you get started:
What are the obstacles you are facing in the market?
What are your competitors doing better than you?
Does your industry have an easy entry for new competitors?
Will raw materials costs and labor charges rise in the near future?
Will advancements in technology impact you negatively?
What are the market trends that can become threats?
What are the social and lifestyle changes that can harm you?
Benefits of SWOT analysis
understand your business better
address weaknesses
deter threat
capitalize on opportunities
take advantage of your strengths
develop business goals and strategies for achieving them.
Our Free Competitive Analysis Kit to help you get started:
upmetrics.co/download/competi...
Create professional business plans quickly and easily in every industry with a pre-written business plan template, Fill in the blanks and we will prepare your polished business plan. Use the financial modeling tool and it calculates all the summaries for you. Get on the same canvas with your team to build your business strategies with our library of business model canvases.
Get 200+ free business plan templates here
upmetrics.co/sample-business-...
Free E-Book: Ultimate Guide On Writing A Business Plan
upmetrics.co/download/ebook
Visit upmetrics today to get more pro tips on writing a business plan.
upmetrics.co/
------------------------------------------------------------------------------------------------
// LINKS
Learn more about #Upmetrics and Find Resources to build your Business - upmetrics.co/
Join our private Facebook group - / 40711. .
Follow Upmetrics on Instagram to Stay Updated - / upmetrics.co
E-books, Guides & More - upmetrics.co/resources
-----------------------------------------------------------------------------
"business plan"
"business model canvas"
"financial modeling"
"swot analysis"
"swot"
"swot diagram"
"what is swot"
"what is swot analysis"
"how to do swot analysis"
"tutorial"
"how to"
"strategic planning"
"swot analysis example"
"swot analysis template"
"swot analysis definition and examples"
"strengths"
"weaknesses"
"opportunities"
"threats"
"address weaknesses"
"deter threat"
"understand your business better"
"capitalize on opportunities"
"Key SWOT Questions"
"strategic planning"
"Personal SWOT Analysis"
"swot matrix"
Business Analysis