How to do a SWOT Analysis?
You can simply draw four boxes on a piece of paper, similar to the illustration below.
Then, you’ll want to fill in each section accordingly:
Here you will list 3-4 major internal strategic strengths of your current efforts. You need to identify what has been working well for you so far. (Even if you haven’t started yet, you can still complete this step.) In that case, for example, one of your strengths could be that you have expertise in a particular topic that your target audience is extremely interested in.
If you have started , however, some of your strengths could include a well-defined blogging strategy and established customer base.
Here you will list 3-4 major internal strategic weaknesses of your current efforts. Again, if you haven’t started yet, you can still complete this step. For example, your weakness could be a lack of a dedicated resource for product development or lack of experience in raising money.
If you have started, some examples of potential weaknesses would be an inability to attract strong salespeople or lack of capital needed to market your product or service.
Here you will list 3-4 major external opportunities that exist for anyone working within your market. Some examples of opportunities might include that paid social distribution as it isn’t as competitive as adwords campaigns or generating leads from long-form ‘how-to’ content.
Here you will list 3-4 major external threats that exist for anyone working within your market. Some potential threats include a product or service that is easily replicated by your competitors, like industry white papers for example, or your competitors might have more resources to develop a better resource centre, increasing their possibility to rank higher than you.