SWOT Analysis - A Business Owner's Secret Weapon

What is a SWOT Analysis?

SWOT simply stands for:

-Strength

-Weakness

Opportunities

-Threats

There are four areas you should be looking at when building your business.

Strengths: What are your strong skills? Are you able to generate responses in your marketing campaign? etc..

Weakness: What skills are you lacking? Are you able to attract new clients? etc..

Opportunities: Are you first to market? What innovation can be applied to your service or product?

Threat: Who is your competition? and are you in the right mindset (the inner enemy)? etc..

Understanding the SWOT formula will help you to better understand how to build your business.