Examples of SWOT in a Membership-Based Business
Saturday, May 30th, 2009Last week I discussed, “My Favorite Entrepreneurial Tool–Deciding My SWOT” and I received dozens of e-mails asking for examples of SWOT in my businesses.
As a reminder, SWOT is a business acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. EVERY single company, no matter what size it is, has SWOT. Success is achieved based on how you leverage this tool. And I also told you last week that I apply SWOT to my companies by:
Deciding what my acceptable weaknesses will be
Predicting the threats to my business
Capitalizing on my strengths
and seizing opportunities
So here are some concrete examples of SWOT in my businesses to help you better understand the tool.
Strengths
- Business model positions us as an industry leader
- We are able to attract better partners because we are the
gatekeeper to a targeted niche - We roll out new products and services quickly
- We invest in tangible benefits and therefore deliver higher quality
than our competitors - We measure our ROI consistently and act quickly when we need to
shut down a program or service that isn’t in high demand
Weaknesses
- Our niche is crowded (AWE and NAWW)
- We don’t offer physical workshops anymore (NAWW)
Opportunities
- This is a good time to establish a social media presence
- Our target markets love “hand holding” services
- We can invest more dollars into marketing than many of our competitors
- We can publish more print books than our competitors and therefore generate more leads
Threats
- Great marketing techniques are becoming saturated
- Competitors copy product and service offerings
- E-mail delivery is harder than it used to be due to technologies that block out “good” e-mail along with spam
To figure out “your” strengths and opportunities, use my “Leverage Triangle” report to learn more about leverage. For you to capitalize
on your strengths and seize the opportunities, you will have to leverage one or all three of the elements of the triangle (time, money, or expertise). You can grab a copy of that report at www.queenofleverage.com.
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Want To Use This Article In Your Ezine or Website? You have my permission, as long as you include this complete blurb with it: Sheri McConnell is the CEO of Sheri McConnell Companies, Inc. and the president and founder of two national organizations, the National Association of Women Writers-NAWW and the International Association of Web Entrepreneurs-AWE. Under the same corporate umbrella she is also the owner of two high-level product and consulting companies: Create Your Group and My Millionaire Friends. You can visit Sheri, access herfree article archive, and find out more about all four of her companies at www.sherimcconnell.com. Sheri lives in San Antonio, Texas with her husband, their four children, a weenie dog, and two cats.
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