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Doing a SWOT analysis

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Last updated on May 15, 2013

Identifying your strengths, weaknesses, opportunities and threats (SWOT) can provide valuable information for your business planning and business strategies.

A SWOT analysis will help you identify your:

  • Strengths
    Your competitive advantage. The things you do better than your competitors. Make sure it is a competitive strength and not a 'me too' or wish list
  • Weaknesses
    Things you need to work on internally to improve your business.
  • Opportunities
    Things that are happening externally that could offer an advantage or opportunity to your business i.e. opening of MONA
  • Threats
    Any external threats that could impact on sales. For example, a strong Australian dollar could impact negatively on sales.

A SWOT analysis should fit on one page. What you include in your SWOT analysis should then inform your business planning and business strategies.

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