How To SWOT Your Way To A High Performance Business Model

One of the common questions business owners ask me is – “What’s wrong with my business and how do I fix it?

My answer is that the first step to increase sales, improve profit and grow your business is to understand the good, bad and ugly in your current business model. To do that you need to perform a SWOT analysis on your business.

Improving your business performance starts with the development of a strategic business plan – and all good business plans start with a SWOT analysis.

What is a SWOT analysis? Simply, it is a review of the Strengths Weaknesses Opportunities and Threats in your current business model. Once the review is completed you should have all the information that you need to be able to develop a successful business improvement strategy.

I conduct a SWOT analysis on two levels – how is your business affected by the outside world and how is your business structured internally.

To assess the external Strengths Weaknesses Opportunities and Threats to your business you need to consider the following factors:

  • What is happening in your industry?
  • What are your competitors doing?
  • How is technology affecting your business?
  • What changes are happening within your customer’s world?
  • What is the business owners’ health and financial status and how does that impact the business?
  • What is happening in the general business and economic environment?

To assess the Strengths Weaknesses Opportunities and Threats in your current business operation you need to consider the following factors:

  • How strong is the current business Vision of the owners?
  • Is there a well-developed business strategy focused on delivering the Vision of the owners?
  • How well is the business structured in terms of having the right leadership team and the right organizational processes?
  • Is the culture of the business aligned with the owner’s Vision and is it building a team focused on high performance?
  • Is the current mix of products and services maximizing the profit potential in the business – both now and in the future as your customer needs change?
  • Do you have an effective sales and marketing strategy focused on increasing new customers, retaining current customers and maximizing the sales and profit made from each customer?
  • How effective are your current people strategies in terms of recruitment, training, performance management and reward structures?
  • Have you systemized your business processes to ensure consistently high levels of customer service and product quality as well as find ways to release the owners from the day to day grind of business tasks?
  • Have you achieved best practice in terms of your financial controls so that you have excellent management reporting processes to drive profit and increased business value while ensuring you have sufficient working capital and cash flow to fund business growth?

Once you have conducted this review you need to ask yourself 4 more questions:

  1. How can I use my strengths to maximize the identified opportunities?
  2. How can I use my strengths to overcome the identified threats?
  3. How can I overcome my weaknesses so they don’t get in the way of my opportunities?
  4. What will I do if the perfect storm occurs – where my weaknesses collide with the identified threats to my business?

The answers to these questions are the ones that will set your business strategies over the coming months and years.

Watch the following video where I outline this SWOT process in more detail and show you one of the best online SWOT tools on the market today.

 

If you would like to access the Advisapedia tool to perform a SWOT review on your business, use the PayPal button below to choose the level of review you want and we can get to work building a high performance business model tailored to your needs.


Choose Your Level



As a Member or Associate of Your Business Coaching Club I am happy to give you the opportunity to access this market leading online SWOT tool. This is the exact same tool I use with my professional business coaching clients and I know how good it is at developing your strategic business plan for growth.

For a short time only, anyone who registers for our professional SWOT reviews will also be granted life time Full Membership – you will have full access to every business coaching resource we publish, and never have to pay a membership fee again.

As I outlined in the video, I am happy to offer 3 levels of access to you depending on how much of the process you want to handle yourself.

Full Self-Assessment Package

Register for this package if you just want access to our market leading online SWOT tool and you are happy to interpret the results for yourself.

Registration costs $97

Professional Overview Package

Register for this package if you want access to our market leading online SWOT tool and you would like me to provide you with a professional review of the results to highlight the priority opportunities you have to grow your business.

Registration costs $397

As a special offer, register for the professional overview package today and I will also grant you Full Membership rights to all of our business coaching resources for life – Value of bonus is $180 per year for every year of membership!

Professional Analysis Package

Register for this package if you want access to our market leading online SWOT tool and would like me to personally work with you to use the results to develop a full strategic business plan for you to implement. This is a full service offer and you will have direct access to my professional experience in applying the results of the SWOT review to your business.

Registration costs $897

As a special offer, register for the professional analysis package today and I will also grant you Full Membership rights to all of our business coaching resources for life – Value of bonus is $180 per year for every year of membership!

 

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