Strategic Planning? SWOTT Analysis Is Your Best Friend!

  

If you're strategic planning for your business, there are few tools more useful than a SWOTT analysis. SWOTT, or Strengths, Weakness, Opportunities, Threats, and Trends is generally considered to be the cornerstone of strategic analysis.

Your strengths and weaknesses are features of your organization, and your opportunities, threats and trends are features of the environment your organization is operating in. Features of your organization and environment have both the ability to further your goals (strengths and opportunities) or hinder them (weaknesses and threats). Very simply, identifying good and bad features, and whether they come from inside or outside your organization, is an elegant and powerful way to think strategically. SWOTT analysis can be scaled to fit any size of organization, too: from your small business in Ann Arbor, to the very largest international corporations.

Need help getting started with your strategic plan?

Read more on my website!

63% of Business Owners Only Plan a Year Ahead! Sound Familiar?

 

A major reason why small and medium sized businesses fail is lack of strategic planning. In fact, according to a recent survey from Constant Contact, 63% of small business owners surveyed said they only planned a year or less in advance.

Sound familiar? If so, that may be a sign your small business could benefit from strategic planning.

 

There are many reasons to make a strategic plan for your small business in Ann Arbor. Having a strategic plan that is shared internally and made available, in part or whole publicly, can educate your employees and customers, in addition to attracting potential investors or buyers, should you decide to sell your business. Most importantly, having a strategic plan benefits you!

Strategic planning for your Michigan small business can help clarify your goals. By carefully defining your vision, you will unite and focus your efforts on assessing where you are, where you want to be, and how to get there.

Need help jump-starting your strategic planning? 

Read more on my site!