SWOT is a simple and smart assessment tool for evaluating the strengths, weaknesses, opportunities, and threats in your business.
Evaluating these four areas can provide clarity in a number of situations, including:
- Considering new business ideas
- Evaluating progress
- Developing goals and business plans
- In a crisis situation
- Quarterly or yearly business reviews
- Evaluating competitors
- Choosing priorities to focus on
- Evaluating employees or departments
- Assessing the current status or value of a business
SWOT can be a valuable tool throughout the life of your business, from evaluating your initial business idea to choosing directions for growth once you are successful.
Why not give it a try?