You want to grow your business, get new clients, make sales, and be successful. One of the best ways to see how your business is doing is to complete a SWOT analysis. A SWOT analysis doesn’t have to be difficult or overwhelming.
SWOT stands for Strengths, Weaknesses, Opportunities and Threats. As you go through the analysis, you’ll evaluate your business from these aspects.
Large corporations complete a SWOT analysis annually to determine how their company is doing and see what changes need to be made. Don’t think that an analysis is only for big companies with hundreds of employees though. Even a self-employed blogger, Etsy store owner, or virtual assistant can grow with an evaluation of their business.
Let’s jump in and see how to appraise your business with a SWOT analysis.
What strengths does your business have? Do you have great content and courses, fabulous skills or delightful items to sell? Looking at your strengths can help you to see where you already excel and can grow further.
Take a look at what weaknesses you may have. What needs to be improved? Maybe your content could be more SEO friendly. If you have problems with grammatical errors and typos, you could hire a proofreader to make your content shine. You could optimize your social media accounts to get more click-throughs to your shop or blog.
Next, evaluate the opportunities that are out there for you to take advantage of with your business. Think about taking a course in bookkeeping or Pinterest management to grow your skill set to offer to clients. Look into ways to promote your product that you may not have tried before such as using pins on Pinterest to direct traffic to your Etsy shop or latest course offering.
Finally, assess the threats your business faces. Social media algorithms can change, possibly making it more difficult for viewers to see your posts. New apps and tech appear almost constantly, and your skill set or hardware may be lagging behind. Checking out your competition is an important part of this section of the analysis.
Now that you’ve completed the SWOT analysis on your own, you need to call in others to look at your business to give you more perspective on what needs to grow or change. Ask trusted friends to go through the steps with you. Join a mastermind group and do it as a group challenge for each member to look at their own business and then take a look at each other’s businesses.
I hope that you now feel that you can evaluate your business and help it to grow and succeed!
After you’ve done your SWOT analysis, if you see the need for proofreading or editing, I would be happy to bolster your business with my services. You want your content to stand out and be perfectly polished before you send it out to your readers. I would love to be the virtual assistant to help you achieve that goal! Contact me today to see how I can help you save time and improve your readers’ experience.