A SWOT analysis is a great way to evaluate anything. The acronym stands for: Strength, Weaknesses, Opportunities and Threats. It can be used on a business, product or person. A SWOT works best when you already have a goal in mind. Writing out a SWOT helps you decide which steps to take next.
You have to be realistic when doing a SWOT analysis. This is because you use the SWOT to plan the strategy for attacking your goal. Strengths are internal things that can help achieve the goal. Weaknesses are internal things that might keep you from your goal. Opportunities are external things that can help achieve the goal. Threats are external things that might keep you from your goal.
After you do an honest SWOT, you have to decide if you can achieve the goal. If you think you can, plan a course of action. If you don’t think you can, you might need to choose a different goal and start over again. The purpose of the SWOT is to give you a clear view of the situation.
Points to remember:
- You can do a SWOT for just about anything.
- A SWOT helps you make smart plans.
- Strengths and weaknesses are internal.
- Opportunities and threats are external.
- Always find ways to turn strengths into opportunities.
We all have goals in life. Have you done your personal SWOT analysis yet?