you’ve got to develop a higher-level understanding of your business and the context in which it operates. a swot analysis is a strategic planning framework used to take a big-picture look at the internal and external factors impacting your brand and business. this kind of holistic, high-level thinking is valuable and necessary to ensure that you don’t get lost chasing after details that don’t deliver the return on investment your business needs to survive. finally, you should conduct a swot analysis anytime you consider making any significant changes to your brand or brand identity. you simply list all of your business’s strengths and weaknesses along with all of the outside opportunities and threats that may impact your business.
for a swot to be truly useful, it must be comprehensive. the goal of any swot analysis is to make better choices that are informed by a deeper understanding of your situation. then view all of these assets and liabilities strategically in relation to the opportunities and threats you discover in the next section. and decide whether to meet a threat head-on or avoid it based on your likelihood of success with your current resources. how can you redirect your brand in a stronger direction using the new perspective you’ve gained? katie is a problem-solver, writer, former professor and reluctant video game enthusiast.
however, many businesses, from start-ups to well-established corporations, have never felt the need to take a step back and ask themselves three major questions about their business: your brand is much more than a sleek logo or clever slogan. your business is a representation of your dedication and hard work, and most importantly, a reflection of how your current and potential clients see you. either way, in order to build a successful brand with a swot analysis, you need to examine your business under a microscope. strengths and weaknesses are internal analyses that examine the factors you have the most control over when it comes to organizing your business.
so, let’s dive into the ins and outs of your business and how to conduct a swot analysis. your company’s strengths are a measure of the internal operations you do best. opportunities are exactly what they sound like—opportunities outside of your current business operations that you can take advantage of and turn into strengths. examine how you can tap further into your market and expand your business with the following questions: analyzing threats is an extremely important part of building a successful brand with a swot analysis. a swot analysis can help to uncover strengths, weaknesses, opportunities and threats that you may not have been aware of, and it also keeps you up-to-date with your competitors, target market and other factors that may affect the success of your business.
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