SWOT: Identify Opportunities and Defend Against Threats

By: ActionCOACH Team

Date: 01 / 11 / 2024

SWOT: Identify Opportunities and Defend Against Threats

A couple of clients this month have been talking to me about how to complete a SWOT analysis (strength, weakness, opportunity, threat). On both occasions I had to tell them that, in my view the biggest problem with this analysis was the acronym it has been given because it is easy to say. So, what did I mean by that?

Well, SWOT analyses tend to result in a two by two Johari window type document with strengths and weaknesses at the top and opportunities and threats at the bottom of the table. The benefit of doing these in this way is limited to being an audit exercise as no flow occurs from one element to the other.

SWOT Analysis

If , however the tool had been called a SWOT, it would have been significantly more effective. The best way to truly use such an analysis to be able to affect your future plans is to go through it in this order:

List the strengths that you have compared to your competitors in a given market place.
For each strength listed, consider what opportunity is available to you. This may be a target market, a strategy to employ or another opportunity type.
List the weaknesses that you have compared to your competitors.
For each weakness listed, consider what threats there are to your business as a result of this weakness.
For each threat listed consider what strategy you can employ that would mitigate the threats identified.

Through this process you will have created a flow of ideas form the strengths and the opportunities and considered strategies that you can work upon to overcome the threats that exist as a result of your weaknesses. These two lists now provide you with a set of actions that you can implement that will take your business forward and minimize risk while you do so.

I suggest that you run this exercise every six months or so and use the time after to move your business forward in a planned and secure manner.

Reason #1: Different styles and methods of business coaching don't work for everyone

It's important to be honest with yourself and conduct a realistic assessment when it comes to business coaching. Though business coaching can have many benefits, it might not work for everyone.

Every individual brings their own experiences and values to the coaching dynamic, so results will vary. Additionally, some individuals might need more than just a coach. They might also need specialised knowledge or communication strategies specific to their industry or target audience. Below are a few key factors to consider:

Reason #2: There is no clear focus or vision (talk about time dedication here too)

cIt's important to be honest with yourself and conduct a realistic assessment when it comes to business coaching. Though business coaching can have many benefits, it might not work for everyone.

Business coaching is an effective tool for developing a clearer focus and vision for growing your business. A good coach will help you to take a comprehensive look at your strengths, weaknesses, and available resources that can be used to reach those goals. They will also help you draw up action plans with step-by-step instructions to get there.

By providing honest feedback and being patient throughout the process, a business coach can make sure that you’re on the right track. This will enable you to set realistic milestones and tasks.

These tasks may need dedicated time outside of coaching sessions. For example, a coach might help a client develop a marketing strategy or implement new systems for managing employees. However, if the client does not have enough time to devote to these tasks outside of coaching sessions, progress will likely stall.

Both the coach and the client must have enough time available to reflect on past experiences, brainstorm new solutions, and test out different strategies. If either party is rushed or distracted during coaching sessions due to other commitments or obligations, they may struggle to fully engage in this process.

Effective business coaching also requires a commitment to regular meetings and ongoing communication. If either the coach or the client does not have enough time to dedicate to these meetings, progress may be slow or nonexistent.

It's important to recognise that business coaching is an ongoing process that takes time to yield results. While some clients may see improvements after just a few sessions with their coach. Others may need months or even years of consistent effort before they begin seeing real changes in their businesses.

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