ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Starting A New Busines

Updated on January 18, 2010

SWOT Analysis!

What is SWOT Analysis?
What is SWOT Analysis?

Dreaming in Owning a Business?

 So, are dreaming in owning your business? That's great! Everyone should allow him or herself to dream such a dream, don't you think?

Everyone wants to be his or her own boss and, that is a right that we all have but, unfortunately, owning a business is something harder that most people think.

The decision of owning a busines is probably one of the most important decision that one will ever make during his or her lifetime because involve high risk, time, commitment and discipline among other factors.

It is one of those decision that will make or brake and, that will determine your financial future, your life future and happiness, so, if owning a business is so important, why most people don't take such a decision more seriously, why so many people fail to succeed in such vital decision?

As the ancient people use to say: if you fail to prepare, you prepare to fail!

The Perfect Fomula to Achieve Success on Your Business!

What is SWOT Analysis? What this has to do with business success?

 SWOT analysis, stands for: Strength, Weakness, Opportunity and Threats. This is a popular term widely used in the business world, it is the formula for a successfull business when properly implemented in a business srategic plan or commonly known as business plan.

Why SWOT analysis is so important to your business to succeed?

Swot analysis will allow you to fully and deeply analysis four of the most important areas of your business.

1 - S (Strenght): This function will allow you to self assess your business strength in areas that you are performing really well so that, you can keep doing so.

2 - W (Weakness): This fuction will allow you to self assess your business weaknesses, such as poor customer service, poor service, product, pricing and so on, by identifying the areas that needs improvement, you will also be able to find proper measure to change the course of the areas that needs to be improve.

3 - O (opportunity): Once you have identified your company's weaknesses, you will create opportunity to improve the business in such areas, this is part of the opportunity that you will have to get your business back on tack.

Opportunity also helps you learn other areas, such as: marketing trends, competition and so, on, by identifying the opportunities that are available to your business, you will be able to better position your business ahead of the trend and, therefore, you will be better prepared to compete and survive in this so competitive marketing place.

4 - T (Threats): This is an area that most business owners are affraid to assess, however, it is vital and it is a determinant factor that could easily decide the future of your business.

Do not ignore this part of SWOT equation, this is as important as the other three topics, however, understand one thing, there are two different types of threats: Internal & external.

Internal threats: Internal threats usually happens within the boundaries of the company, they are threats that can be managed and controled by the company.

Example of internal threats: Unethical business practice within the company, employee dishonesty, sexual harrasment in the workplace, higher price than the competition, inferior products and services and, so on.

Most of those threats can be avoid, adjusted or completely eliminated by your own company, it is within the company control, that's why is called internal threats.

External threats: These threats are beyond your company's control, therefore, you can't change.

Example of external threats: wheather condition, your competitor business practices and so on.

So, I hope that you have enjoyed this article, if so, please, add me to your fan list and, leave your thoughts and comments.

I deeply appreciate.


Other sites that I own:




    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)