SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Use this template to think about your business and competition from a fresh perspective.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Use this template to think about your business and competition from a fresh perspective. SWOT analysis helps you assess strengths and weaknesses, and how you can leverage those qualities to respond to market opportunities and threats. Step back and take a broader view. How does your organization fit into the bigger picture? Do you see yourself as part of a larger team? Are you responsible for leading a group of people who work together toward a common goal? Or do you focus on one specific task, such as marketing or product development? Whatever your role, make sure you know how your organization fits into the overall scheme of things.
What you need before purchase
After purchase, you’ll be able to view the template immediately. The template can be added to your Notion account by:
For ongoing use, the steps are:
SWOT Matrix helps you understand what’s working well in your organization and where there may be room for improvement. It allows you to identify opportunities for growth and evaluate threats before they become problems. The matrix can help you make better decisions about how to allocate resources, improve operations, and develop new products and services. You can use it to:
There are several ways to use this tool. One way is to organize the information into four quadrants. Each quadrant represents one of the four categories (strengths, weaknesses, opportunities, threats) and has two axes – horizontal and vertical. The horizontal axis shows whether the factor is internal or external while the vertical axis shows whether the factor creates an advantage or disadvantage. For example, if you have a strong product line, but lack a strong distribution network, then you would place yourself in the lower left quadrant. If you have a weak product line, but a strong distribution network, you would place yourself in the upper right quadrant.
The first step is to brainstorm all the things that could affect your business and organize them into four quadrants. This will give you a good idea of which factors are important to your business. Once you have identified the key areas, you need to determine which ones are strengths and weaknesses, opportunities and threats. To do so, take a look at each category and ask these questions:
Once you have completed this exercise, you should have a clear picture of your organization’s strengths and weaknesses, opportunities, and threats. Next, you need to decide which of these factors is most important to your business. Then you can assign each factor to either strength, weakness, opportunity or threat quadrant based on its importance.
Now that you know how to complete a SWOT matrix, here are some tips to keep in mind when creating your own SWOT matrix (these steps can be done using the Notion template above instead of paper):
When you are done, review your results and see if you made any errors. Remember that you don’t have to fill out every box. Be sure to leave space for additional boxes as needed. After reviewing your results, you may want to make changes before finalizing your SWOT matrix. You may also want to add more than four quadrants to your matrix. In fact, it is recommended that you create a separate matrix for each area of your business. The last thing you need to remember is that there is no perfect way to complete a SWOT analysis. It is simply a tool designed to help you identify and prioritize your organization’s needs.