WHY YOU NEED TO SWOT

Ever feel like you're navigating The Hunger Games instead of a small business? Well, fear not, there's a tool that can help you plan your survival and strategy : a SWOT analysis. It's like having a GPS for your business, a way to know where you’re headed and how you’re going to get there. There was no way I could design a business diary without it, it was a must-have.

So, let's break down why SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) is the bomb-diggity for your business:

Playing to Your Strengths:

Think of the “strengths zone” as your business's hype squad, cheering you on for everything you’re killing it in. It helps you pinpoint what you're really good at – whether it's killer customer service, a top-notch product, or ninja marketing skills. By recognising and maximising your strengths, you will set yourself up for success.

Facing Your Flaws and Weaknesses:

We all have 'em – those little quirks and hiccups that make our businesses less than perfect. Don’t sugarcoat it; give yourself a reality check for you and your business. By acknowledging your weaknesses – whether it's slow shipping times, a wonky website, or a shortage of caffeine in your office – you can roll up your sleeves and start fixing things up.

Spotting Opportunities:

Ever feel like you're standing at the edge of something really great? Assessing your opportunities is like handing yourself a pair of binoculars so you can spot the pot of gold at the end of the rainbow. It helps you see new markets to conquer, trends to ride, and partnerships to explore. It gives you projects and pillars to strategise around, and that’s exciting!

Dodging Threats:

Beware! Sticking your head in the sand to things that threaten your business and industry is the easiest way to end up an ex-business owner. Staying pro-active and assessing the threats you are at risk of means you will spot those sneaky competitors, changing regulations, or market trends that could trip you up. By staying one step ahead, you'll have a backup plan in place for just about every scenario.

A well executed SWOT analysis is like your business's secret weapon – it helps you make smarter moves. Whether you're deciding to launch a new product, expand into a new market, or pivot your business strategy, SWOT gives you the clarity and confidence to go for it.

Do yours today! Be honest, critical and creative - but most of all, think BIG. You might just find something that surprises you.