What to Do with SWOT Analysis Results
There is no point in creating a SWOT analysis and then not doing anything with the results. However, it can be quite difficult to analyze the information you have gathered and building an action plan based on it.
Maybe you see your business as evolving naturally and don’t need to implement your SWOT analysis results rigorously, or perhaps you simply don’t know how to use your findings to improve your company.
What follows is a short guide on what to do with SWOT results.
The goal for creating such analysis is to give yourself a broad overview of your business as well as to identify opportunities and issues in your business. All this data enables you to do the following:
- Improve your strengths
- Eliminate weaknesses
- Leverage opportunities
- Defend your business from threats
The best approach to this is by asking yourself such questions as:
- What can I do to make my strengths even more powerful?
- What do I need to change to eliminate or minimize my weaknesses?
- How can I use the opportunities to my advantage?
- What should I do to protect my business from emerging threats?
But remember that the most important thing here is action. Since SWOT Analysis is a descriptive exercise, it is easy to stop there and do not implement your findings at all. In fact, this is a quite common mistake many startups make once they created their results.
Biggest danger with processing SWOT Analysis results
There is one thing you must be aware of when analyzing SWOT data. It is very easy to fall into a trap of using it to justify your actions and decisions so far, no matter how right or wrong they were.
The goal of SWOT analysis is to give you an objective outlook on your business, therefore you need to make sure that any previous decisions or course of action must be kept out of your SWOT.
Also, when working on such elements as weaknesses and threats, you must be objective about yourself and your business. What you think of yourself does not matter, you must give an objective overview of you and the company here.
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