What is the SWOT analysis and how to apply it to your business?
When you have a business, it’s easy to fall into two extremes: believing everything is fine because “we’re selling” or thinking everything is wrong because “the market is tough.” The truth, as it often is, lies somewhere in between, and to understand it clearly, there is a tool that has been useful for decades: the SWOT analysis.
First, the basics: What is the SWOT analysis?
SWOT (or FODA in Spanish) is a matrix that helps you understand four key aspects of your business:
- Strengths: What you do well, your internal advantages
- Weaknesses: What limits your growth or affects your performance
- Opportunities: What’s happening outside that you could take advantage of
- Threats: External risks that could affect you
This analysis forces you to look inside and outside your company, without embellishments or excuses.
Why should you do it?
Because making decisions without knowing your starting point is like designing a marketing campaign without knowing your customer.
A well-done SWOT analysis gives you:
- Clarity to focus your strategy
- Identification of urgent areas to improve
- Vision to leverage market trends or changes
- Preparation against external threats (competition, economic changes, etc.)
At Bizmasoft, we don’t just analyze; we design an effective marketing and positioning strategy. Contact us, and let’s start charting your path to success!
