SWOT Analysis

About this Page:

A SWOT analysis is a tool used by businesses to determine the strengths, weaknesses, opportunities and threats that surround a company. By exploring these elements, business owners are in a better position to adapt their strategies and tactics to compensate for their weaknesses, while also being able to take advantage of new opportunities and ward off issues that may arise down the road.

Useful Prompts:

S

• What does your business do well?
• What is unique about your business?
• What does your business do better than your competitors?
• What is your business an expert in?

W

• Where do you see your business having to improve?
• What resources does your business currently lack?
• Where is your business lacking experience or knowledge?
• What are your business costs?/ Where are you losing money?

O

• What are some attainable goals you have for your business?
• What are your dream goals for your business?
• How can your business use new/existing technology to enhance itself?
• How can you reach more clients and keep existing clients?

T

•What challenges might your business face?
• What’s going on in your industry currently?
• What are your competitors biggest strengths?
• What is going on in the economy?
• What external or internal forces/processes that could harm your business?