A SWOT analysis can increase your business awareness and provide a valuable addition to your business plan. It’s split into four sections - Strengths, Weaknesses, Opportunities and Threats - with each one detailing the various relevant attributes and downsides to your business and the industry.
SWOT analyses are sometimes represented visually in the form of a matrix.
Examining your business and the sector in which it operates is intrinsically valuable, as it helps you to make strategic decisions and prevent disasters by planning ahead.
Brainstorming is often a good way to begin a SWOT analysis; simply jot down any observations or ideas which come to mind and flesh them out or edit them later.