We all do it.
Day after day, we make split second decisions on how and where to spend our money.
However, would you make these same decisions if it could potentially cost you several thousand or even millions of dollars? What if there was a way to remove the guesswork associated with investments? Would you utilize this method? Many companies, businesses, and even individuals already use this method.
Still others have yet to hear about it.
What is the method you ask? The method is called a SWOT analysis.
By analyzing four different components, Strengths-Weaknesses-Opportunities-Threats, the SWOT analysis is a tool that forces a company/business or individual, to look objectively at the pros and cons of future investments.
It relates this information to where the company currently stands.
Strengths looks at the positive side of any investment opportunity identifying long-term benefits; weaknesses uncover legitimate concerns the business may have that are self-inflicted; opportunities identify favorable conditions that make this new venture worthwhile; and threats addresses whether this new venture will hinder or hurt current business.
When you add all this together, you get a detailed analysis of the risk/reward factors that this new venture offers.
Unless you are willing to pay a consultant for this information, a free SWOT analysis is the best place to start.
A SWOT analysis requires an investment of time and money.
So why do it? Well, three main reasons standout.
First, a SWOT will show a business, in detail, where they currently stand, however good or bad it may be.
Second, the SWOT pinpoints a company's strengths and weaknesses.
This reliable data can then be utilized to make the necessary corrections allowing the business to out- perform the competition.
Finally, the SWOT strengthens and improves any company or person undertaking this endeavor.
So, whether you are a business looking at growth potential, a company wishing for a thorough review of current operating procedures, or an individual investigating an investment opportunity, look into performing a SWOT analysis.
Day after day, we make split second decisions on how and where to spend our money.
However, would you make these same decisions if it could potentially cost you several thousand or even millions of dollars? What if there was a way to remove the guesswork associated with investments? Would you utilize this method? Many companies, businesses, and even individuals already use this method.
Still others have yet to hear about it.
What is the method you ask? The method is called a SWOT analysis.
By analyzing four different components, Strengths-Weaknesses-Opportunities-Threats, the SWOT analysis is a tool that forces a company/business or individual, to look objectively at the pros and cons of future investments.
It relates this information to where the company currently stands.
Strengths looks at the positive side of any investment opportunity identifying long-term benefits; weaknesses uncover legitimate concerns the business may have that are self-inflicted; opportunities identify favorable conditions that make this new venture worthwhile; and threats addresses whether this new venture will hinder or hurt current business.
When you add all this together, you get a detailed analysis of the risk/reward factors that this new venture offers.
Unless you are willing to pay a consultant for this information, a free SWOT analysis is the best place to start.
A SWOT analysis requires an investment of time and money.
So why do it? Well, three main reasons standout.
First, a SWOT will show a business, in detail, where they currently stand, however good or bad it may be.
Second, the SWOT pinpoints a company's strengths and weaknesses.
This reliable data can then be utilized to make the necessary corrections allowing the business to out- perform the competition.
Finally, the SWOT strengthens and improves any company or person undertaking this endeavor.
So, whether you are a business looking at growth potential, a company wishing for a thorough review of current operating procedures, or an individual investigating an investment opportunity, look into performing a SWOT analysis.