The SWOTT analysis is an easy to use and highly effective tool to assist business owners in determining what is working with their business, what is not working, and what areas should be tweaked or changed. A SWOTT analysis is typically included as part of a strategic plan or a marketing plan. Listed below are the categories of a SWOTT and some sample questions for each category.
- What are your advantages?
- What do you do well?
- What relevant resources do you have?
- A workforce of diverse backgrounds and expertise
- What do other people see as your strengths?
- What could you improve?
- What do you do badly?
- May have too many staff for the amount of business
- What should you avoid?
- Where are the good opportunities facing you?
- What are the interesting trends you are aware of?
- Are there new Technologies available that you should implement?
- What obstacles do you face?
- What is your competition doing?
- Are the required specifications for your job, products or services changing?
- Is changing technology threatening your position?
- Could any of your weaknesses seriously threaten your business?
Trends (recently added to the analysis)
- Are your sales based on holidays, weather, or other reoccurring patterns?
- Has any aspect of your industry changed because of new technologies or demographics?
- Have the sales of your competitors increased or decreased in the past year?