SWOT Analysis – How to Position Your Business for Growth

SWOT Analysis

Success is the natural product of a growth mindset.

At each new stage in life or business, we have to learn what is required of that new level in order to succeed. We have to commit ourselves to growth or we will commit ourselves to failure.

Chances are, if you’re reading this, you have a growth mindset. You are committed to learning and growing in order to achieve success in life.

My question to you is this: Does your business have a growth mindset or a failure mindset? 

Is your business constantly learning new information about the market, the audience, new technology, cultural trends, competitors, and opportunities to improve or refine your existing processes? 

Information evolves every day and the implications and perspectives shift even more often. When you consider the fast-paced nature of Social Media, information can change by the second! The more you can keep up with these changes in information and perspectives, the more insight and power your business has to position itself as the right solution for the right group of people at the right time.

What is a SWOT Analysis?

SWOT Analysis

A SWOT analysis helps you identify the Strengths, Weaknesses, Opportunities, and Threats present in your business. It allows you to define the competitive advantages of choosing your business as the solution. It also highlights opportunities and areas of overcoming obstacles, which may be missed when you fail to complete a SWOT analysis.

A SWOT analysis is also an exercise in communicating your businesses’ benefits. The better you are at communicating why your business is the right answer for your customer’s problem, the better the likelihood that they will turn to you for that solution.

Your SWOT analysis should mirror the major milestones of growth in your business as well as the constantly evolving mindsets of the people you hope to serve.

A couple of years ago, a threat to most businesses was the Pandemic. As a result, many businesses shut down and people were laid off or terminated. However, some people saw major growth in their business endeavors. Their SWOT analysis was able to identify opportunities to continue to serve people, which allowed them to continue to make money.

When is the last time your team conducted a SWOT analysis to ensure that you are positioning your business for success in this ever-changing marketplace? 

Share your thoughts and feedback with us below.

Kema Hodge
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