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Do you want to control what happens to and around you?, your finances and most importantly your time; this can mostly happen by having your own business. I know you want that, but slow down and read this article to actually know what to do before you start working on those ideas. Get to know more about personal SWOT analysis by following these steps, it will do a lot with starting with a bang!!!

The Personal SWOT Analysis

You are the business person, the first analysis or check, that you need to perform will be on you, yes you. Ask yourself these questions, what do i want for myself from this business; sense of fulfillment, money, fame, just to burn time.

Know you drive to create the business and be sure about it. Then you need to know how much of knowledge you need to actually start a business (SME GUIDE will help you a lot with this.). Ask yourself if you are ready and available.

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After you are done asking yourself all these questions, you are going to conduct a simple analyses called the SWOT analyses.

That is

S-STRENGTH

W-WEAKNESSES

O-OPPORTUNITIES

T-THREATS

Strength: Get to know what you are good at and what you can be good at, at this stage do not flatter yourself, you need to know this because it will go a long way in the kind of business you can actually do. These are the questions to test your personal strength

  • Things that you are doing better than others?
  • What unique resources can you draw on?
  • What do others see as your strength?

Weakness: At this stage you need to be true to yourself so that you can improve on the weaknesses that you have identified.

These are the questions to test your personal Weaknesses;

  • What you improve?
  • Where do you have fewer resources than others
  • What are others likely to see as weakness

Opportunities: These are possibilities that are available to you.

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These are the questions to test your opportunities open to you;

  • What opportunities are open to you?
  • What trends could you take advantage of?
  • How can you turn your strength into opportunities?

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Threats: Threats are the things that you need to be careful of.

These are the questions to test your threats around you;

  • What threats could harm you?
  • What is your competition doing?
  • What threats do your weaknesses expose to you?

You might not be able to answer all these questions almost immediately, take your time, you will be amazed at what you will get out of it.

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You need a SWOT template to work on this, luckily for you, you can get one free by dropping your comments below. Get started on your dreams, your future self will thank you for it.

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