Determine Where Your Business Sits in the Market

Before you attempt to change the world, you should take a hard look at your company to get a clear picture of its purpose and place. This can be done with a familiar planning tool called a SWOT Analysis. SWOT stands for:

  • Strengths:ย Characteristics of the business or project that give it an advantage over others.
  • Weaknesses:ย Characteristics that place the team at a disadvantage relative to others.
  • Opportunities:ย Elements that the project could exploit to its advantage.
  • Threats:ย Elements in the environment that could cause trouble for the business or project.

“We WILL be there with you every step of the way.”ย 

By doing a SWOT analysis, you should be able to identify where you have opportunities and risks. Once you have completed your SWOT analysis, you can then use that information to create an actionable plan. The actionable plan should be based upon the strengths and weaknesses you’ve identified from your current efforts, take advantage of opportunities in the market and also account for potential threats to your strategy.

Once you have completed your SWOT analysis, you can then use that information to create an actionable plan. The actionable plan should be based upon the strengths and weaknesses you’ve identified from your current efforts, take advantage of opportunities in the market, and also account for potential threats to your strategy. Below is an example of an action plan we have created based on the examples we mentioned above.

Follow Us on Social Media

Where do you go for answers?

Our Learning Community is the one stop shop for the intelligence you need. Instead of countless hours searching for answers, we’ve organized what you need to know across all of the business and personal issues you face. You’ll get knowledge, ongoing support, weekly live coaching sessions, tools and templates, vendor reviews and a vibrant community of your fellow entrepreneurs. All that for only $99/month! Join today!

Share The Lonely Entrepreneur