SWOT Analysis

By: Norrie Jackson 01/04/2022
  • Do you have a current SWOT analysis (Strengths, Weaknesses, Threats & Opportunities), which is regularly reviewed ?

For Business Owners, using a SWOT (Strengths, Weaknesses, Threats & Opportunities) analysis is an under-used exercise. Why ? Because, in the main, it is not used properly.

This is one of the reasons why my JFP Partners and I have included this as one of our key questions in the Business Energiser Scorecard.

Too often at JFP, we come across SWOT analysis, where there are ten or more Strengths, Weaknesses, Threats & Opportunities - but the trick is to limit each category to three items. This really helps Business Owners focus on the main strengths, weaknesses, opportunities and threats.

When completed, there will be a maximum of 12 items - and the next move is to select the top five that will make a significant difference to the business - then put those five items into priority - and what you end up with is the bare bones of a good plan.

An exceedingly easy exercise - yet so effective.

If you would like to discover what other gaps you may, or may not, have in your business, take our complimentary Business Energiser Scorecard – you will find it very revealing!