0 SWOT Analysis Template Grow Your Business Strategically by Theresa Delgado
SWOT Analysis Template 1 All rights reserved. ALL RIGHTS RESERVED. No part of this book may be reproduced or transmitted in any form whatsoever, electronic, or mechanical, including photocopying, recording, or by any informational storage or retrieval system without express written, dated and signed permission from the author. DISCLAIMER AND/OR LEGAL NOTICES: The information presented herein represents the view of the author as of the date of publication. Because of the rate with which conditions change, the author reserves the right to alter and update his opinion based on the new conditions. The book is for informational purposes only. While every attempt has been made to verify the information provided in this book, neither the author nor his affiliates/partners assume any responsibility for errors, inaccuracies or omissions. Any slights of people or organizations are unintentional. If advice concerning legal or related matters is needed, the services of a fully qualified professional should be sought. This book is not intended for use as a source of legal or accounting advice. You should be aware of any laws, which govern business transactions or other business practices in your country and state. Any reference to any person or business whether living or dead is purely coincidental.
SWOT Analysis Template 2 SWOT Analysis Template Grow Your Business Strategically By Theresa Delgado What is a SWOT Analysis?... 3 How to Do a SWOT Analysis... 5 How to Analyze a SWOT Analysis... 10 How to Use a SWOT Analysis in Your Strategic Planning... 12
SWOT Analysis Template 3 What is a SWOT Analysis? What is a SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis? It s a business tool used to help make strategic planning decisions. It helps you grow your business proactively and purposefully. Who Should Do a SWOT Analysis? A SWOT analysis is not just for large corporations. Salespeople use them to evaluate their territories. Small business owners use them to evaluate their firm. This tool allows any individual who wants to grow their revenues, a strategic plan to do so. Why You Should Do a SWOT Analysis A SWOT analysis will tell you what you are doing well, places to tweak, areas of future growth, and problems you need to confront.
SWOT Analysis Template 4 If you are self-employed or a company-employed salesperson a SWOT analysis will help you evaluate: Where you dominate in your market. Where your product/service falls short. Where you have growth potential. Where you are facing challenges. Without knowing the answers to matters a SWOT analysis uncovers, you do not know where your business stands. Not to mention how you can stand out from your competition. What A SWOT Analysis Evaluates This analysis evaluates factors that impact a business in several ways: Internal Factors these are aspects the firm can control. External Factors these are factors the firm can t control. Current Factors these are situations that are going on now. Future Factors these are issues that are forthcoming. This evaluation of your business aids you in planning and decision-making. Bottom line, it allows you to be proactive and purposeful.
SWOT Analysis Template 5 How to Do a SWOT Analysis Anyone who is responsible for bringing in revenues should do a SWOT analysis. It will help you in your business planning, financial planning, product development, and many other areas. If you want to grow your business, you need to perform regular SWOT analyses of your business. Now that you know what this tool is and why it s important for business planning and revenue growth, here s a template to help you perform a SWOT analysis on your business. On the following 4 pages are the SWOT Analysis questions to help you plan for the future and grow your business.
SWOT Analysis Template 6 What Are Your Strengths? These are internal factors that are present right now. Questions you might ask yourself: What are your advantages over the competition? Do you have strong customer relationships? Do you have a lot of marketing resources? These are areas you can maintain, build and leverage. 1. 2.
SWOT Analysis Template 7 What Are Your Weaknesses? These are internal factors that have an impact now. Questions you might ask yourself: Do your competitors dominate the market? Why? Where do you have a lack of resources? (financial, product knowledge) Where does your product lack in quality or benefits? These are areas you can make changes to and optimize. 1. 2.
SWOT Analysis Template 8 What Are Your Opportunities? These are external factors that are present in the future. Questions you might ask yourself: Are your competitors vulnerable? Do you have new markets on the horizon? Can you partner with someone? These are areas you have growth potential. 1. 2.
SWOT Analysis Template 9 What Are Your Threats? These are external factors that will impact you. Questions you might ask yourself: Is there new legislation coming that will change how you do business? Is your industry seasonal or economically sensitive? Is your market facing new obstacles? These are areas you have to counter. 1. 2.
SWOT Analysis Template 10 How to Analyze a SWOT Analysis Identify Your Business Goals You need to have a clear idea of what your business is trying to achieve. Look at your goals in two groups: Short-term, 6-months to 1 year Long-term, 1 to 5 years The plan you decide on as a result of the SWOT analysis must support the goals you set for your business. What Does Your SWOT Analysis Tell You? Your analysis will address: 1. Factors that need to be maintained or leveraged. 2. Situations that need to remedied or stopped. 3. Circumstances that can be optimized or prioritized. 4. Conditions that must be countered or minimized. So, how do you decide on a strategy? Ask yourself these questions (and write down you answers):
SWOT Analysis Template 11 Which items are most significant in each SWOT area? (you ll focus on these first) What actions are you going to take to take advantage and build on your Strengths and Opportunities? What changes in your business need to occur to deal with the top Weakness and Threats? Success with your plan increases, if you are specific with your plan of action. Tips for Successful Implementation Changes normally do not occur overnight. Applying these tips will help your plan be even more successful: Assign dates of completion for each task. Once a month compare the progress of your plan. If new factors come up that impact you plan, revise as necessary. Taking this time to analyze your business puts you in a great position to keep your business moving forward and gaining momentum.
SWOT Analysis Template 12 How to Use a SWOT Analysis in Your Strategic Planning You have completed your SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. Check. You have analyzed your SWOT analysis. Check. Now, let s talk about how to use your SWOT analysis in strategic planning. How are 3 tips to put into practice to maximize your plan and grow your business How Frequently Should You Evaluate? Anytime you implement a new strategy it s important to allow enough time for the strategy to build momentum and for you to evaluate the results. If you change strategies too frequently, you don t have an accurate indication of the results. It s like a company running a commercial once at midnight and changing the advertising campaign because it didn t bring in the business they hoped.
SWOT Analysis Template 13 Do a SWOT Analysis at the beginning of each quarter. January Beginning of the year fresh start April Spring renewal campaigns July Summer fun plans September End of year push Working this schedule also allows you to plan for seasonal changes. Performing a quarterly analysis will also allow you to understand exactly how your business is advancing. How Many SWOT Items Should You Focus On? Implementing new strategies involves a lot of time and effort. You also have to manage your current customer base, keep up with the market, deal with any programs that are currently in progress, etc., so to set yourself up for success, focus on the top 1 or 2 in each SWOT category per quarter. This might seem like a slow pace, however to see changes you need to devote ample time to planning, implementation, plan assessment.
SWOT Analysis Template 14 What s the Best Way to Work Your Plan? Schedule it! Make a step-by-step plan to achieve the changes you want. Schedule these action steps in your calendar daily and/or weekly. Complete your action steps. It s that simple. The only way you ll see growth in your business is if you execute your plan.
SWOT Analysis Template 15 About the Author Theresa Delgado is a Career Development Strategist with over 20-years of professional sales and marketing experience in very competitive markets. She now has a consulting firm where she helps corporate-employed and self-employed salespeople manage their careers by helping them implement proven sales strategies that get results. Theresa focuses on sales and marketing methods that are straightforward and easy to duplicate. Visit TheresaDelgado.com for more sales strategies that will help you grow your business. You will also be able to sign up for the Build Rapport Like A PRO e-course no charge. While some salespeople are wondering why their sales are flat, others are exceeding their goals! Why? Find out at BuildRapportLikeAPro.com!