Understanding the Totality of Your Business

Key Links

• Sign-up for your FREE COPY of Exit Mindset (Releasing early 2021!)
• http://exitmindset.com/

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SWOT Analysis

• There is a tool that has been utilized by top level corporations worldwide to break down their business into four actionable pieces.
• The SWOT Analysis is a quick and straight forward way to understand your business on a deeper level.
• The acronym SWOT stands for Strengths, Weaknesses, Opportunities and Threats.
• One of the easiest ways to visualize a SWOT Analysis is to draw a square separated into four quadrants or use our worksheet at exitmindset.com/tools 

Breaking Down The Acronym SWOT

• You’ll need to refer back to the three principals that we have talked about in the past: your product, infrastructure, and the conversation.
• Strengths- The key is to always maintain a broad Exit Mindset so that your team is able to see the larger picture.
• Weaknesses- It’s important to remember that having a weakness does not mean that your overall business is weak, try to recognize a crack in your infrastructure or product.
• Opportunities- Where your business could grow, market share that could be taken advantage of, or even pricing structure that could be adjusted.
• Threats- Business owners sometimes struggle to identify their own threats, even if the threat is right in front of their nose.
• It’s important to think broad and be honest with yourself and with your business as a whole.

Including The Team

• Including your team and other key decision makers can help to garner a wider view with different perspectives.
• We would always suggest that you begin by creating a rough SWOT Analysis on your own.
• You can then crowdsource solutions or additions to the list using your employees or other executives.
• Remember, as a business owner you are in this endeavor alongside your employees.

Conclusion

• If you are struggling to make SWOT Analysis’ a regular piece of your weekly routine, try to simplify your process and focus on one or two bullet points per letter of the acronym.
• A SWOT Analysis is a great way to establish a 360-degree view of your company but relies on your ability to think honestly and trust your team!

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• The Exit Mindset is brought to you by Rem Oculee, founder of Confidence Wealth. All rights reserved.
• For more information, please visit ExitMindset.com.
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