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Use SWOT Analysis to Crank up the Volume on Your Business

Like most people, I have tons to do and not a lot of time to do it. There are just too few hours in the day so I often put even the most crucial activities on the back burner. That’s why I am so grateful for CBM’s SWOT analysis tool. As a small business owner, I don’t schedule time to check in on my marketing plan. (I’ll bet some of you reading this are getting a very guilty look on your faces right now!)

Maybe, like me, you have a pretty good marketing plan, one that you work from because in any given calendar year, certain activities on your plan keep the cogs of your business turning. But when was the last time you took a clear eyed-view of your Strengths, Weaknesses, Opportunities and Threats as they related to your plan? Have you really revisited the plan in light of these? If not, face the music and grab this tool.

The CBM tool is easy to use and intuitive. That’s not to say it’s needlessly simplistic. For example, I was able to look at my products and services in several different ways. I was able to understand that although I had a plan for putting these in front of my prospects, my understanding of what competitors were doing in this arena was foggy at best. I was missing a key opportunity to grow my business by virtually ignoring my competitors. Danger, Will Robinson!
Understand, too, that in most cases, growing my business (and yours) depends mostly on the right networking, which costs money. How much were my various networking activities costing me and which products and services was I highlighting while engaging with prospects? What dollar amount should I be spending for my networking investment based on which services were selling? Were these services the most profitable or were they low-margin services? The CBM SWOT tool uncovered all of these questions and more. Once I was able to hone in on where I should be spending my time, I was able to use my time better.

The fact remains—no SWOT is a “one and done” proposition. But the CBM SWOT analysis tool can grow with me. Once I solve this first batch of “problems” I can check back in on my first analysis and see where my next batch of challenges will be. I can use this tool to virtually guarantee that I am doing everything in my power to keep my business volume cranked up to 11.

1 reply
  1. Chad says:

    Patty, I enjoyed your post. I have used a SWOT tool in the past but had forgotten about its benefits. I liked what you said about SWOT being used to help focus time on the most profitable products and services.



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