Strengths Weaknesses Opportunities Threats (SWOT)

Every business has internal strengths and weaknesses.

Every businesses faces a changing market, changing competitors, changing customers with their evolving tastes and preferences, and changing technology that pose external opportunities or threats.

The best business model for one team is different than the ideal business model for another team because their starting points of strengths and weaknesses are inherently different.

A SWOT analysis is a good starting point. SWOT analysis helps you to be conscious about where you are today and where the market may be tomorrow. It helps you be both self-aware and situationally-aware. With this structure you can map out a successful route to a desirable future. The alternative is a famous Yogiism.

Yogi Berra — ‘If you don’t know where you are going, you’ll end up someplace else.’

An undesirable future is the likely destination without the SWOT analysis planning step.

Diagram of SWOT analysis