As a small business, you and your team should constantly be looking for ways to better your practice and stimulate growth for your company. Successfully marketing your brand requires a lot of trial and error to figure out what works best and what does not for your business, especially when you first start out.
Fortunately, there is an often overlooked method to make this painstaking process smoother – you just have to return to the basics.[/vc_column][vc_column width=”1/3″][/vc_column][/vc_row][vc_row no_margin=”true” padding_top=”0px” padding_bottom=”0px” border=”none”][vc_column width=”1/1″]
A SWOT analysis, as the name suggests, is an analysis of one’s strengths, weaknesses, opportunities, and threats for a past or potential decision. As a growing business, evaluating your decisions and strategizing choices is imperative along the way.
The analysis is simple, but it helps one to think about the various implications of a given decision. You must ask yourself questions such as: what advantages does your organization have over others? What could you avoid and improve on in the future? Are there any interesting trends worth keeping an eye on? And, what are my competitors doing better than me?
Questions like these are simple yet effective in that they help uncover opportunities your business is in a position to take advantage of, while allowing you to better understand your weaknesses and therefore minimize threats.
With time, the SWOT framework will assist your organization in developing its very own, very effective business strategy to better compete in your market.
To see how we’ve helped other organizations expand their business, be sure to check out our clients’ success stories here: