If you want to persuade someone to do something, then you need to master the SWOT analysis. The acronym stands for Strenghs, Weaknesses, Opportunities, and Threats. Using the SWOT analysis can persuade people to do almost anything for your business…if you word the SWOT analysis correctly and send it to the people who would care.
The SWOT analysis is designed to do the following:
- Identify what is working. These are the strengths. In your SWOT analysis, you need to start off with the strengths to make everyone feel good about the business. By starting off with the strengths, the weaknesses will be easier for everyone to swallow.
- Identify what is not working. These are the weaknesses that need to be fixed. The reason many businesses (and countries for that matter) fall apart is because they do not pay attention to the weaknesses. In order to move forward as a business and an entrepreneur, you need to identify what is not working so you can fix the problems.
- Give everyone a big picture of the potential that can be unlocked by moving forward. After hearing the weaknesses, some people will get discouraged. This part of the SWOT analysis is to give people a new level of hope and show them how to make the strengths stronger. This new level of hope can be used to increase productivity among your employees and business colleagues to get better results.
- What would happen if we got too comfortable and did not try to unlock our potential. Now that you have given everyone a new level of hope, you need to close your SWOT analysis with the threats. Ending off with the threats will make your employees and business colleagues believe that moving forward in the direction of your vision is the best and right way to go.
What are your thoughts on the SWOT analysis? Please share your thoughts below.
Thanks Marc I love using SWOT analytics when working with a brand, usually though for the Strengths and Weaknesses I look inside within the brand, with the Opportunities and Threats I use this to look to external forces that may impact the company. Thoughts???
I agree with that approach Michael. SWOT is very important, and you’re doing it right. I would recommend getting very deep with the analyses because the first answers that come up don’t always tell the whole story. Constantly asking why about 5 times reveals the deeper truth about why things are the way they are.
Interesting blog topic to continue discussion: “you’ve done your SWOT, now what?”
Thanks Joshua. Once you do your SWOT, the next step is to implement. The conversation will be different for every person since their SWOTs will be different.
A great way to envision what you want for your company taking into consideration internal and external factors!
I agree.
What is your opinion of SOAR versus SWOT, and do you think the two of them can be complimentary?
I believe the two of them could be used complimentary. One big difference it that SOAR includes accountability. You can create a plan, but if we don’t have a way to keep ourselves accountable, we won’t keep ourselves accountable, and that spells disaster. SOARSWOT maybe? I don’t know about the name. Does anyone have suggestions?
It’s been a long time since I used SWOT – thanks for the reminder Marc.
My pleasure. SWOT analyses are still relevant and important. More businesses should utilize them.
This is a great post. Thanks for posting this. It is going to help me out a lot! 🙂
I am glad to hear that. SWOT analyses are powerful.