What Is a SWOT Analysis?
Evaluating your strengths, weaknesses, opportunities and threats will help you gain a competitive edge with your marketing efforts.
Q: What is a SWOTanalysis, and how can it help me?
A: Marketing isprobably the most fun aspect of small-business management. Itinvolves direct communication with your customers and clients andallows you the opportunity to share what you bring to themarketplace in a creative way. Unlike most other elements of yourbusiness, marketing does not have rigid boundaries. You can be asformal as you like by mapping out marketing plans and strategies,or you can practice grassroots/guerrilla marketing as your budgetallows. But before you begin any marketing campaign, you shouldperform a SWOT analysis of your business. This acronym stands forstrengths, weaknesses, opportunities and threats.
Continue reading this article — and all of our other premium content with Entrepreneur+
For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:
- Digestible insight on how to be a better entrepreneur and leader
- Lessons for starting and growing a business from our expert network of CEOs and founders
- Meaningful content to help you make sharper decisions
- Business and life hacks to help you stay ahead of the curve
