A SWOT Analysis is a technique for assessing four aspects of your surrounding areas.

Strengths are things that you do particularly well, or in a way that distinguishes you from your peers.

A SWOT Analysis will only be valuable if you gather all the information you need. So, it's best to be realistic now, and face any unpleasant truths as soon as possible.

Weaknesses, like strengths, are inherent features of you, so focus on your people, resources, systems, and procedures.

Opportunities are openings or chances for something positive to happen, but you'll need to claim them for yourself!

Threats include anything that can negatively affect you from the inside, such as supply chain problems, shifts in market requirements, or a shortage of recruits.

Once you've examined all five aspects of SWOT, you'll likely be faced with a long list of potential actions to take.

SWOT helps you to build on what you do well, to address what you're lacking, to minimize risks, and to take the greatest possible advantage of chances for success.