HOW TO WRITE A SWOT ANALYSIS |The How to It for Dummies
Even a dummy can follow this simple How to Write a SWOT Analysis. Now I’m not saying you are a dummy.
You may love chocolates but that does not mean that you need the SWOT Book for Dummies. I not saying that you need a How to Write a SWOT Analysis; I am saying that if you follow these simple steps you will successfully create your company, your business, or your personal SWOT Analysis. If I can teach you, How to Write a SWOT Analysis and not feel like a dummy it will be a win/win for the both of us. I win because I have helped you. You win because your business will improve.
· Step 1 – Information collection – In the here and now…
List all strengths that exist now. Then in turn, list all weaknesses that exist now. Be realistic but avoid modesty!
o You can conduct one-on-one interviews. Or get a group together to brainstorm. A bit of both is frequently best
o You’ll first want to prepare questions that relate to the specific company or product that you are analyzing. You’ll find some questions and issues below to get you going.
o When facilitating a SWOT – search for insight through intelligent questioning and probing
· Step 2 – What might be…
List all opportunities that exist in the future. Opportunities are potential future strengths. Then in turn, list all threats that exist in the future. Threats are potential future weaknesses.
· Step 3 – Plan of action…
Review your SWOT matrix with a view to creating an action plan to address each of the four areas.
· Strengths need to be maintained, built upon or leveraged.
· Weaknesses need to be remedied, changed or stopped.
· Opportunities need to be prioritized, captured, built on and optimized.
· Threats need to be countered or minimized and managed.
A SWOT Analysis can be very subjective, and two people rarely come-up with the same final version of SWOT. It is an excellent tool however, for looking at the negative factors first in order to turn them into positive factors. Use SWOT as guide and not a prescription.
Simple rules for the successful How to Write a SWOT Analysis
- Be realistic about the strengths and weaknesses of your organization
- The Analysis should distinguish between where your organization is today, and where it could be in the future.
- Be specific. Avoid gray areas
- Always analyze in relation to your competition i.e. better than or worse than your competition
- Keep your SWOT short and simple – but only as short and simple as the application or situation demands – it is about ‘fitness for purpose’
- Avoid unnecessary complexity and over analysis
- There is no point listing an opportunity (O) if the same opportunity is available to competitors
- It is pointless to say you have strengths (S) if your competitors have the same
- Strengths need to be maintained, built upon or leveraged.
- Weaknesses need to be remedied, changed or stopped.
- Opportunities need to be prioritized, captured, built on and optimized.
- Threats need to be countered or minimized and managed.
A SWOT analysis can be very subjective, and two people rarely come-up with the same final version of SWOT. It is an excellent tool however, for looking at the negative factors first in order to turn them into positive factors. Use SWOT as guide and not a prescription for your small business.
As I told you, the How to Write a SWOT Analysis is simple and sweet. You don’t have to kiss a pig to know it’s a pig.
Using the SWOT Analysis to help your business; to help your company; to help you should be obvious.
As you learn How to Write a SWOT Analysis you will realize that certain things are obvious as you do your categorization. The key is to learn how to not let the obvious overcome the “Ah-Ah” moments that arise as you examine the completed SWOT Analysis. Good Luck Will Hunting.
Filed under: SWOT analysis
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