Performing a SWOT Analysis on your Business Skills & Then Capitalizing on Them

October 17, 2007 – 11:17 am

When you perform a SWOT analysis on your business skills, you will be able to capitalize on them to make the most of your unique abilities. Strategic planning is an essential part of determining your current and future business success.

What exactly is a SWOT analysis?

SWOT stands for strengths, weaknesses, opportunities and threats.

Generally used for businesses, a SWOT analysis can be quite easily translated to your career life.

Strengths and weaknesses are part of your ‘internal business’ and opportunities and threats are external business factors.

Strengths can include your personal brand, good reputation, your education, business skills and work experience in a particular niche or industry.

Weaknesses may be a poor reputation, weak personal image, substandard or missing skills in a key area where you may want to seek employment.

Opportunities can include recent barriers to trade lifted, taking advantage of new technologies and companies who are expanding that fall within your areas of expertise or core competencies.

Threats of an external nature can be anything from your competition within the job market, to a particular industry that is vulnerable, downsizing or experiencing turbulence.

When you perform a personal SWOT analysis on your business skills, you uncover your good and bad points – your opportunity and your challenges – and overall be in a better position to target your dream job.

By analyzing business strengths you can be ready to pursue future lucrative opportunities. In understanding business weaknesses, you can eliminate potential threats and strengthen the areas that need improvement.

A SWOT analysis can help you to develop a defensive plan that makes the most of your abilities for the greatest possible business success.

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