Are you trying to do a SWOT (strengths, weaknesses, opportunities, and threats) analysis for your company, but have no idea where to start? Ask yourself these 39 questions, and your SWOT will be done in no time.
Figure Out Your Strengths
What are our assets?
What is our strongest asset?
How is my business different from our competitors?
What unique resources do we have access to?
Do we have a sustainable competitive advantage?
What is our unique selling proposition?
Does my business have any exclusive relationships with suppliers or distributors?
Where do our sales and marketing teams excel?
What skills do our employees have that our competitors’ employees don’t have?
Can we easily get additional capital, if we need it?
Do we have a strong customer base?
What things do our customers say we do really well?
Figure Out Your Weaknesses
In what areas do we need to improve?
What expertise do I lack?
In what areas are our competitors better than we are?
Is there one customer carrying our entire company?
How much debt does my company have?
What complaints do we regularly hear from our customers?
What objections do we most often hear from potential customers?
Do we have any technology or equipment that needs to be updated?
Are we understaffed?
Do we have any cash flow problems?
Are our profit margins lower than our competitors’?
Figure Out Your Opportunities
What trends might positively affect our industry?
Is there talent available that we could hire?
Is there a need in the industry that we’re not meeting, but could?
Can we package our products/services differently and set a higher price?
Do our competitors have any weaknesses that we could take advantage of?
Is our target market changing in a way that could help us?
Is there a niche market that we’re not currently targeting?
Do our customers ever ask for something that we don’t offer, but could offer?
Could we steal our competitors’ customers by offering something they don’t?
Figure Out Your Threats
Is there anyone who’s not currently a direct competitor, but could become one soon?
Are my employees happy and supported, or could they easily be poached?
What happens if a manufacturer or supplier runs out of materials we need?
What if a natural disaster strikes?
Is our website secure, or do we run the risk of being hacked?
Are our competitors planning on expanding or offering new products soon?