Wednesday, July 13, 2005

SWOTting: it's not just for flies

A good ol' SWOT analysis is a great starting point for your marketing planning. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The analysis part, well, that's where the fun comes in. This is where you start putting the SWOT puzzle pieces together to form a strategy.

There are lots of sites out there to help you with SWOTting, but one in particular I like is from, which (quickly) explains how to analyze your SWOT by comparing different components of it. Pair off the 4 areas of your SWOT to find out what you can do best and what you should fix or avoid, like so:

Strengths + Opportunities = Go for it!
Weaknesses + Threats = Things you need worry about
Weaknesses + Opportunities = Fix those weaknesses to seize those opportunities
Strengths + Threats = Can you use your strengths to eliminate your threats?

The New Pathways to Planning site I've mentioned before has a SWOT worksheet you can use. They also link to The National Arts Marketing Project, which offers SWOT guidelines.

Tomorrow, I'll work backwards and mention PEST, a close relative of SWOT (can't have enough acronyms, can we?). :)

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