A SWOT analysis is a tool that helps you identify your company’s strengths, weaknesses, opportunities, and threats.
Strengths are things that make your company unique or better than other businesses in its industry. Weaknesses are things that make it hard for your business to compete in the current market. Opportunities are external factors that increase the demand for your products or services—for example, if there’s a new trend in the market that could increase sales if you were to take advantage of it. Threats are external factors that decrease the demand for your products or services—for example, if a competitor releases a similar product at a lower cost than yours.
A SWOT analysis is a tool that helps you identify your company’s strengths, weaknesses, opportunities, and threats.
Strengths are things that make your company unique or better than other businesses in its industry. Weaknesses are things that make it hard for your business to compete in the current market. Opportunities are external factors that increase the demand for your products or services—for example, if there’s a new trend in the market that could increase sales if you were to take advantage of it. Threats are external factors that decrease the demand for your products or services—for example, if a competitor releases a similar product at a lower cost than yours.
