Ideas are the lifeblood of small business owners. You have ideas for start-ups, growth, new products or services, how you want your business to run...
What many of us fail to do, however, is to regularly take stock of our ideas. It's a time thing to analyse what's worked and what hasn't, what we really want to achieve, and how our ideas will help us achieve our goals.
That's why I've come up with the Small Business SWOT. It takes 10 minutes and it'll help you quickly identify your strengths (S), weaknesses (W), opportunities (O) and threats (T). Here are the questions to ask:
Strengths: What advantages do I have over my competitors?
Weaknesses: What could I improve? Do these two things reveal any opportunities for my business?
Opportunities: Which areas offer the best chance of growth?
Threats: What are the obstacles I face, either within my business or from my competitors? Could I turn them into opportunities?
If you want to take longer on the Small Business SWOT, feel free. But the simple process of going through this quickly can help you do business with your eyes wide open, in good times and bad.
Do it now!
Margie
Sunday, August 29, 2010
Subscribe to:
Posts (Atom)
