In this episode of the "Future Proof Business" podcast, we explore the essential SWOT analysis tool. It helps business owners unlock their potential by understanding their strengths, weaknesses, opportunities, and threats.
Conducting a SWOT analysis provides a comprehensive view of internal and external factors that impact your business, guiding you in strategic planning and decision-making.
We start by defining a SWOT analysis and its purpose in business strategy. Then, we break down the process into manageable steps, beginning with an internal analysis to identify your business's strengths and weaknesses. We offer practical tips for gathering insights from your team and using data to support your findings.
Key Takeaways:
Conducting a SWOT analysis helps small businesses understand their internal and external environment.
Regularly updating the SWOT analysis ensures the business remains agile and responsive to changes.
Integrating SWOT findings into strategic planning enhances decision-making and business growth.
Episode 3: Using SWOT Analysis To Drive Your Business Strategy.