About this lesson
This lesson shows you how to complete a SWOT analysis of your business. It will help you identify any opportunities and head off any looming threats.
How much does it cost?
These lessons are provided free by New Zealand Trade & Enterprise.
Why you should do it
It is easy to get so caught up in the day-to-day running of your business that you lose sight of of both threats and opportunities. You also need the opportunity to take an objective look at your business and how you can improve it.
It is good business practice to every now and then stick your head above the parapet and have a look at what might be coming towards you (either good or bad).
Who should complete it
All small business owners who have not assessed possible impacts on their business recently, and who want to conduct a short effective review of their business. It is especially useful if you use the format as an opportunity to brain storm ideas (for example in a staff meeting or with other small business owners).
You can read what a SWOT analysis is anywhere. However this lesson will allow you to spend 15 minutes thinking about this now, for your business, allowing you to print out an action plan of ideas to implement immediately.
What you will end up with
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A clearer idea of your business direction.
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Greater awareness of how changes in the market and how the external world may affect your business.
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A specific list of your own business and personal strengths, weaknesses, opportunities and threats to action.
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A SWOT template for you to download and use.