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SWOT Analysis

...a simple, but extremely effective tool for your business


I find the SWOT analysis tool to be a really useful starting point for a business plan or marketing plan. It is simple to use, but allows you to reflect on your business as it is today AND your thoughts for the future.

Please don't discount it for it's simplicity. Try it and see it's true power!

To help you, I have shown an example to put things into context.

In this case it's a Landscaping company which for the sake of argument is successful and well established. But it's owner is near retirement and the business is under pressure and needs a new impetus to drive it forward...

STRENGTHS

- Knowledge of plants
- 10 years experience
- Strong refrerrals
- Skilled workforce
- National Award Winner
- New Equipment
- Staff retention
- Competitive prices		 WEAKNESSES

- Highly seasonal
- Cashflow constraints
- Availability of plants
- Cost of building materials
- No marketing performed
- Lack of Admin support
- No succession planning

OPPORTUNITIES

- New local building
- Public Sector contracts
- Sell design capability
- Materials cost reductions
- Gain marketing advice
- Adopt Admin outsourced
- Focus on "Exit Planning"

 THREATS

- Climate change
- Bad Debt Management
- Price increase of plants
- Price of building materials
- Profile of competition
- Administrative mistakes
- Health of owner


By describing what the main Strengths, Weaknesses, Opportunities and Threats of the company are....the basis of a strategic plan begins to build.

How is this done?... By knowing your Strengths you can then passionately describe them to your existing and new clients either verbally or in advertising/promotion.

Your Opportunities are self evident - the challenge is how you intend tapping into them.

If you have any Weaknesses, then how will you address them? In our example, I would look to improve cashflow management by considering such things as:

  • Staged payments from the client
  • Invoice discounting
  • Closer Debt Management
So the business plan should outline how you intend turning Weaknesses into Strengths!

I use SWOT analyses to think through almost any problem - a great tool to have!

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