How To Use A SWOT Analysis To Grow Your Business

One of the single greatest tools in a small business owners toolbelt is the ability to critically analyze how their business operates. On that note, today were going to talk about a useful technique for analyzing and growing your business - the SWOT Analysis. Originated by Albert S. Humphrey in the late 1960s, the SWOT Analysis is a powerful decision making tool for any business. Let's dive in! Take a piece of paper and draw 4 squares on it. Title each square Strengths, Weaknesses, Opportunities, and Threats. Strengths: What do you do well What benefits Weaknesses: You dont know what you dont know Inexperience No marketing or market share Opportunities: Festival or event sales Competition left New growth Threats: Limited cashflow Cant hire/retain employees New competition Conclusion: By taking the time to develop a SWOT Analysis you are able to quickly and clearly see a roadmap for your company moving forward both internal and external. --- Marketing 360® is the #1 Marketing Platform® for Small Business. It has everything you need from design, to marketing, to CRM. Powered by Madwire® - voted one of the Nation's Best Places to Work by Glassdoor in 2016 & 2017! Follow Us: Marketing 360® Website: https://www.marketing360.com/ Madwire® Website: https://www.madwire.com/ Facebook: https://www.facebook.com/marketing360/ Instagram: https://www.instagram.com/marketing360 Twitter: https://twitter.com/fuelsyourbrand Pinterest: https://www.pinterest.com/fuelyourbrand/ Snapchat: https://www.snapchat.com/add/fuelyourbrand Youtube: https://www.youtube.com/marketing360