Start With Strengths
Brainstorm the strengths of your business and ensure a complete and detailed list. Placing as many as possible, and refine these later. It can often help to think of client journey, all the touch points, and the sales messaging during this stage.
Focus On Weaknesses
With Strengths complete, it’s time to focus on the weaknesses of the business. This is the mirror image to the Strengths and after been through the strengths process it should be easy and natural to identify this list.
Review Internal Analysis of Strength and Weakness
At this point we have a full SW analysis, giving a picture of internal business. With a refined list of Strengths and Weaknesses. Taking a step back and review both lists together, is there anything missing?
Look For Opportunities
The OT is all about the future of the business, driving it forward and growing in ways that have not previously considered. In order for this next section to be effective, it’s important to really understand the market the business operate in, so if is this done as a group make sure team members who are exposed to the market you operate in each day are involved.
Identify the Threats
To identify the threats we must consider the external market, competitors, and own business SWO. Threats are items that may hit outside of own control, so preparing for them and mitigating against them is a key factor.