In this article, you will learn how to do a SWOT analysis. This is a tried-and-true method that is used by many businesses to identify internal strengths and weaknesses. It also helps the business identify external opportunities and threats.

This analysis allows you to gather critical information that may be needed to create a strategy or a plan for your future business growth.

This one exercise is beneficial for individuals to. You will be able to analyse your own strengths and weaknesses. It will allow you to better how you can play to your strengths and be in a better position to manage your weaknesses. You will then understand how to make a plan of action as to what areas you need to focus on.

Furthermore, it will uncover the opportunities for growth and most importantly it will eliminate any threats that is keeping you stagnated.

How to perform your personal SWOT, first of all get hold of a plain piece of paper. Once you have your paper on hand, divide the paper into four quadrants with the following headings. (see image below).

 

What you now need to do is fill in each section and answering them “HONESTLY” now lets dive into each section so that you have a better understanding of it.

Strengths

• What sets you apart from your peers. This could be education, skills, talents, certifications, and also networks you may have that differentiate you from your peers.
• What does your boss or co-workers say you’re strengths are?
• What are your values and ethics you may have that your peers don’t have or lack?
• What are you most proud of? (think about your achievements)

Weaknesses

• What areas are you lacking in? (Education, Skills, presentation)
• What does your boss or co-workers say you’re weaknessess are?
• What are your bad or negative work habits and personality traits?
• What are you not confident at and avoid it at all cost?

Opportunities

• What are the trends that may affect your industry?
• What are the main areas that your industry is growing?
• What new technology tools can help you advance?
• How can your networks help and support you?

Threats

• What are the obstacles you are facing currently in your business/career?
• Who are your competitors?
• How is your industry changing that could potentially affect your growth/advancement?
• Will technology slow your progress?

Once you have completed the SWOT, you may want to consider asking people who you may know well and trust to give you some honest feedback.

You can use your SWOT analysis to focus on developing your weaknesses and set a plan of action to achieve. This will help you to laser focus on the areas that you need to concentrate one.

If you have answered filled in all the quadrants honestly to your ability you’ll walk away with some great insights, action steps, and a laser focus action plan. This is a recipe for success.