SWOT – your best planning tool

What is a SWOT and why are they so important?

What is it?

A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is a great place to begin any strategic planning process. It is important you also define the SoWOT factors.

Make it Customer Centric

It is important that you make your SWOT Client/customer centric – To do this simply considered Strengths and weaknesses from the perspective of your clients or customers, compared to a named individual, department or competitor – this stops you getting carried away

Example: what are your strengths compared to your competition who want to sell their product idea or service to YOUR internal or external client.

What about weaknesses – again compared to a named individual, department or competitor

What is it that, in the eyes of your customer or client, your competition do better than you .

Opportunities and threats are considered to be external

Think about what is coming over the horizon in the next 12-36 months, which might be an opportunity for YOU and YOUR client

How might you get ready to exploit that opportunity together

Think about threats from the same perspective, what is coming over the horizon in the next 12-36 months which might be a threat to you and your client – how will you work together to avoid or mitigate that threat.

Now the SoWOT‘s

Having just defined your strengths what should you do to build on them.

• Talk about them at every meeting, find out how important these are to the customer or client
• Emphasise them.
• Keep doing them and try to improve or amplify these strengths.

With weaknesses you need to understand a couple of things

• How important is this issue to your customer – if it is low – perhaps don’t dwell on it.
• Can you or your business change this – if you can then do it
• Does your business want to change this – if not then prepare a story about why you will not or can not do this
• What can you do to mitigate this.
• Try not to talk about these – but if you have to ensure you have a polished convincing story

A SWOT provides you with a snapshot of where your department stands today, highlighting both internal factors (strengths and weaknesses) vs a competitor, be that a person in another department or another business.

Opportunities and Threats (external factors) that could impact your department’s future if you don’t begin planning now.

The SoWOT’s should always lead to actions

Why it’s important:

A SWOT analysis helps you understand your department’s current position, enabling you to make informed decisions on where to focus your efforts. It also allows you to capitalise on strengths and opportunities while addressing weaknesses and mitigating threats.

How to do it:

Strengths: What does your department do well vs other departments? What resources do you have?

Weaknesses: Where does your department need improvement vs other departments? What are the resource gaps?

Opportunities: What trends or market shifts could benefit your department? Where will they come from and when will they arrive?

Threats: What external factors (competition, technology changes) could harm your department’s success? Where will they come from and when will they arrive?

Tip:

Involve your team in this process to gain different perspectives and insights you may have overlooked.

If you need help to refocus or develop your team, please get in touch A half day skill shot might be just the ticket!

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