Doing a SWOT analysis
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:
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
Things you need to work on internally to improve your business.
Things that are happening externally that could offer an advantage or opportunity to your business i.e. opening of MONA
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.