The S.W.O.T. analysis that can save your business

Posted by Vernon Simpson on August 18, 2013

What is the one thing you can do as a small business owner to make sure economical and   other external factors do not have a negative impact on your business? Is there anything you can do right now that will enable your business to sidestep negative conditions and position your business to not only survive, but THRIVE?

What you need to know…

There is one basic business principle that can help you turn negative economic and environmental factors to your advantage and you can use this same principle in your business right now to become the predominant force in your market. It’s called a SWOT Analysis, and it stands for Strengths, Weaknesses, Opportunities and Threats.

Why you need to know this…

A SWOT Analysis helps a small business owner discover their personal strengths and weaknesses, and use that information to position themselves so they perform their highest income-producing activities. That immediately jump-starts revenue and profits for your business.

A SWOT Analysis also allows the business owner to predict threats to their business, and develop a pre-determined plan of action that will enable them to turn any threat that materialises into an instant opportunity. It worked for Toyota, didn’t it? They were the only car company whose SWOT Analysis predicted the gas crisis, and the public’s current demand for hybrid vehicles.

The cost to you if you fail to act…

Do you have a SWOT Analysis for your business?

Do you know the tools required to properly perform one?

Do you have any idea what your strengths and weaknesses are, or for that matter, what your highest income-producing activities are for your business?

If you don’t, what will be the future costs to your business if you fail to act?

Develop these critical skills and you will position your business as the obvious choice for your prospects to buy from.

To take a Test Drive on our system visit http://BusinessGrowthForYou.com/guidedtour

Until the next time

Vernon Simpson, Nydes Business Coach

Coaching Business Owners and Executives to their next level of Excellence

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