Strengths. Weaknesses. Opportunities. Threats Its important to look at your business not only from your own perspective but also that of the customer. As entrepreneurs we rightfully take great pride in our businesses. This confidence is important when it comes to sales and decision making but it also leaves us susceptible to blind spots. Listing out the Strengths Weaknesses Opportunities and Threats of our business forces us to look at the issues of our business. "Not Everything that is faced can be changed, but nothing can be changed until it is faced"- James Baldwin Provide a SWOT analysis of your business in the discussion below. -or- Provide a SWOT analysis of the last business you bought from.
It important to look at your business from an outsiders perspective regularly to make sure that you are staying competitive in the market. Many businesses fail because they are optimistic without being realistic. An example is video rental stores, before