What is SWOT Analysis? (And How to Actually Do It Without Overthinking)
Let’s be real—business jargon can sound intimidating. “SWOT Analysis this, strategic framework that.” But strip away the fancy terms, and it’s just a way to figure out:
- What you’re good at
- Where you’re struggling
- Opportunities you’re missing
- Threats that could trip you up
I used to ignore this stuff—until my first failed side hustle taught me the hard way. Spoiler: Not knowing your weaknesses hurts more than admitting them.
Here’s How to Do It Right (No Fluff)
1. Strengths: Be Honest, Not Ego-Driven
- What do you do better than competitors? (Example: “Our customer service replies in 2 hours, not 2 days.”)
- My mistake: Once listed “great team” as a strength. My boss asked, “How? Prove it.” Now I track metrics.
2. Weaknesses: Don’t Sugarcoat
- Where do you waste time/money? (Example: “Our website crashes during high traffic.”)
- Painful lesson: I ignored our slow shipping times until 30% of carts got abandoned.
3. Opportunities: Look Outside Your Bubble
- Trends, gaps, or customer complaints you can fix. (Example: “Competitors don’t offer payment plans—we could.”)
- Regret: Skipped TikTok marketing because “our audience isn’t there.” Turns out, they were.
4. Threats: Face the Scary Stuff
- New competitors, supply issues, or tech changes. (Example: “A cheaper alternative launched last month.”)
- Wake-up call: Google’s algorithm update once buried our blog traffic overnight.
5. Act—Or This Was All for Nothing
- Strengths → Do more of these.
- Weaknesses → Fix or outsource.
- Opportunities → Test one this quarter.
- Threats → Prepare a backup plan.
Why This Works
SWOT isn’t about fancy reports. It’s about spotting problems before they cost you money. The first time I did it right, we caught a supply chain issue before it delayed orders.
Try it today—just grab a notebook and answer those four points. No perfect template needed.
(And if you skip the “weaknesses” part? Well… I’ve got some bad news for you.)
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