Strategic planning is the key to build a roadmap for a successful business venture. Once you craft the goals and vision for your business, the next step to level it up is to plan it by doing a comprehensive SWOT analysis. A SWOT analysis is an all-inclusive evaluation of your business’ Strengths, Weaknesses, Opportunities and Threats.
The four SWOT quadrants with the external and internal metrics assist to uncover a wealth of information about your company to achieve maximum benefits. Small businesses can expand their profits by preparing a marketing plan with an extensive SWOT analysis. Leverage on opportunities and decrease the negative factors affecting your business by conducting a SWOT analysis.
A multitude of platforms is available online with SWOT analysis templates for PowerPoint like SlideModel.com. With a dedicated SWOT analysis template, Entrepreneurs and Business leaders globally, assess the growth trajectories and success benchmarks by determining the company’s attributes with an exhaustive SWOT analysis.
The easiest way to fill the four quadrants with information is by asking relevant questions. Emphasizing on the questions will aid you in analyzing the SWOT factors thoroughly. This article will guide you to design your perfect SWOT analysis by forming questions. Let’s move ahead and know how to conduct a comprehensive SWOT analysis for your business:
The strengths of a business are its positive factors. To determine the strengths of your business’s attributes, start by asking the following questions:
- Which aspects your business is good at?
- Do you have extensive experience in the market?
- What renders your company unique from your competitors?
- How good are your resources and business networks from your competitors?
- How loyal is your customer base?
- Which product or quality is most profitable to you?
- How strong is your social media base?
Brainstorm with your colleagues to identify these strengths and make efforts to highlight and boost them more. Hyper-focus on your selling products and target market for your strengths to be accurate. Always keep your competitors in mind while assessing these strengths.
Weaknesses in your business are the factors which can slow or halt your business’s growth prospect. These include operational limitations, and the company lacks. To uncover the weaknesses of your business, ask questions like:
- Which domains of your business are the least profitable?
- Which features of your products are disliked by the customers?
- Why do your customers leave a negative review or feedback?
- Which areas require improvement?
- What are your challenges in the current sales funnel?
- What to do to reduce overhead costs?
- Which resources do you lack?
- Why are your competitors performing better?
Identifying weaknesses is not a hassle as it is an internal factor. Weaknesses exhibit the shortcoming of the business which need improvement. Deconstruct them one by one by charting a list and tackle them by investing in productive measures.
The third step to a SWOT analysis is pondering over the business growth channels, that is external opportunities. Opportunities incorporate the industry or market-related components that give your business an advantage over your competitors. To find the potential opportunities advantageous for your business, jot down questions like:
- What are the latest technologies and market changes that make your business effective?
- What are some ways to escalate sales and customer support?
- What more can you do to attract customers?
- Which mediums to employ to maximize your publicity?
- Is there a possibility of a new target market?
- What are some ways to expand your business goals?
- What events can be leveraged for the advocacy of your brand?
- How efficient is your allocating of resources?
When examining your opportunities, ensure the investigation of your strengths and weaknesses. Strengths will influence you to take advantage of the new opportunities, and weaknesses will encourage you to choose the appropriate opportunities.
Threats are external forces that pose danger to the success of your business. New competitors in the market, economic downfall, negative press and other regulations constitute the threats. Threats might also emerge from weaknesses that need to be curbed. List out these questions to analyze threats:
- What are the strengths of your competitors?
- Have your competitors launched attractive products?
- Which new technologies in the market threaten your business?
- What market changes necessitate adaptation to them?
- How the economic downturn can alter your business horizon?
- How well is your financial and cash flow base?
- What are the ways of survival in case of lockdown considering the pandemic?
Threats are uncontrollable, but you can always mitigate and reduce the same if proactive measures are in place. Strategic and corrective techniques can be maneuvered to blunt the impact of threats.
SWOT Analysis In PowerPoint
When pitching a business or marketing plan to clients, PowerPoint presentations are optimal for formulating a SWOT analysis. The visual kick of the templates attract the investors and reinforce your branding strategy. An alluring and captivating presentation imbibed with SWOT analysis will intensify your business plan for your stakeholders. Implement your business evaluation strategies using SWOT assessment and expand your small business.
Pick An Attractive Template
SWOT Analysis can be creatively imbibed in a PowerPoint presentation for a crisp understanding. SlideModel offers vibrant and colorful SWOT Analysis PowerPoint templates for strategic business models. The four grid-like matrices representing strengths, weaknesses, opportunities and threats are perfect for a graphical SWOT analysis. The templates containing sections with infographics highlight each of the 4 SWOT elements.
Why Conduct SWOT Analysis In A Template?
Slide templates make the work easy for corporates as it is quick to craft. It segregates all the sections vividly that is graspable by the audience. Additionally, the attractive design is useful when it comes to pitching to the executives to impress them. Integrate all the sections with animations to unfold them one at a time. Graphical information is more long-lasting on your audiences’ minds than simple textual bullets. Conduct SWOT analysis professionally while enticing your audience simultaneously.
As a small business owner, it is easy to get caught up in running functions and forgetting to reevaluate aspects of your business. The results of SWOT analysis can be wielded to set company goals and objectives. A SWOT examination can be done on a company, as a whole or a single product as well. Strengthen the positive aspects while building plans to mitigate the threats and challenges. Construct your SWOT analysis in a beautiful PowerPoint template for it to resonate with your clients.
Logan is a digital nomad entrepreneur and writer at SlideModel. When he is not writing online, you can find him designing presentations or running a half marathon outside.