SWOT Analysis For Professional and Personal Growth
Posted on August 17, 2011 by Glenn Turner, One of Thousands of Entrepreneurship Coaches on Noomii.
SWOT Analysis is a technique used for many years in the buisness community with great success. Here we will illustrate its usefulness for individuals.
A business can be evaluated and steps taken to initiate growth from a SWOT analysis that is completed in a professional and thorough manner. The SWOT analysis technique is a time tested and proven method for allowing a business to take a good look at where they are today with an eye on where it wants to be in the future. This same technique can be utilized in a manner designed for individual professional and personal growth. First of all what is a SWOT analysis?
Strengths – all people have certain strengths that must be understood and capitalized on if success is going to be reached.
Weaknesses – there is not a person out there that does not have certain weaknesses (limitations is perhaps a better word).
Opportunities – the ability to recognize opportunities for personal growth and achievement are always present. Understanding what brings value to your life in a meaningful manner will allow for personal growth. Taking advantage of opportunities allows a person to live a directed life style.
*Threats *– people face threats that can cause both short and long term pain. Health is a major issue as well as employment security. Understanding the threats is the first step to eliminating or at least reducing them.
A thorough and professionally done SWOT analysis will allow for the individual to get a fresh look at where they are the present time. A clear path for future goal setting and personal improvement will be devised from this analysis. Many people will utilize the SWOT analysis as a way to make decisions regarding day to day and month to month planning. The SWOT analysis is a relatively short document that provides a snap shot of what needs to be done to accomplish critical goals.
Strengths are areas that each of us possess that allow for us to achieve success. Skills and knowledge in a particular subject area is an example. These are those areas where the person excels as far as performance is concerned. For example, a small business owner may stand out from the competition due to his/her ability to maintain great customer relationships. Each person is unique. Most of us are fairly good at noticing areas where we are not strong or very good at. We do not do a great job of recognizing what are core strengths are. We all would be wise to understand our own strengths so that we can utilize these strengths to live a life that is purposeful and value driven.
Weaknesses exist in every person. Limitations is a better word to use here as we all have certain areas that we do not excel in. For example, many people are not gifted with the ability to communicate through public speaking. Recognition of this limitation will allow a person to avoid or at least limit those occasions when that particular skill needs to be utilized.
Opportunities exist for growth and improvement at all times. For example, an accountant may recognize that more medium and small businesses are being created in the area as the economy starts to improve. The ability to recognize this new market will allow the accountant to initiate marketing efforts at developing relationships with these new business owners.
Threats – a business owner or professional faces threats at all times that must be recognized and steps taken to eliminate or at least minimize them. For example, a heating and air conditioning business owner with three co-owners is threatened with loss of revenue if one of the three owners decides to leave the business or is incapacitated due to illness or injury. Once recognized, steps can be initiated to reduce the risk to the remaining owners if one of the owners exits the business or becomes incapacitated.
LDG Consulting is a leadership development company dedicated to helping professionals achieve improved results. Visit www.resultswithldg.com to learn more.