What is SWOT and How Can It Help Your Business?

swot on computer screen

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
  • Brainstorming
  • 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?

 

 

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