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How to do a SWOT analysis?

A SWOT analysis is an organized list of your business's greatest strengths, weaknesses, opportunities, and threats.

Parts of swot analysis

Strengths

Weaknesses

Opportunities

Threats

Strengths describe the positive, tangible and intangible, internal attributes of your organization. They are under your control.

Weaknesses are aspects of your business that detract from the value you offer or put you at a competitive disadvantage. You need to improve these areas to compete with your best competitor.

Opportunities are attractive external factors that represent the reasons why your business is likely to prosper.

Threats include external factors beyond your control that could put your strategy or the business itself at risk. You have no control over these, but you can benefit from having contingency plans to address them if they occur.