If you haven’t tried Priority Matrix already, get it for iPad, iPhone, Mac, Android, and Windows. You can also brainstorm SWOTs with your whole team for fresh ideas and insights. Its a framework for matching an organisations goals, programmes and capacities to the environment in which it operates. You can do this analysis with any business and any opportunity. A SWOT analysis is a planning tool which seeks to identify the S trengths, W eaknesses, O pportunities and T hreats involved in a project or organisation. In this case, for a new company needing exposure and with the ability to take a low paying project, this looks like a good chance to get to know the locals and to do some creative marketing. Once the SWOT analysis is done, compare your strengths and weaknesses against opportunities and threats to decide the best course of action. These things can fall under threats or opportunities, depending on your company. External factors to consider may include market and economic trends, geography, target audience demographics, and even things like how often you come up in a web search. Weaknesses may include equipment and personnel constraints. To start, your strengths as a smaller company may be things like agility, communication, and resources. For this video, let’s say you’re a new, small marketing firm of 5 and you’re deciding whether to take on a local film festival for little pay but potentially great exposure. Opportunities and threats are external factors, which cannot be controlled, but can be mitigated or intensified. Strengths and weaknesses are internal, controllable factors that contribute to success or failure. Here, you can see the quadrants are named strengths, weaknesses, opportunities, and threats– or SWOT for short. Identify and List Problems Write out a list of all of the problems that you need to resolve. To get started, add a project selecting the SWOT analysis template. Pareto Analysis Steps Now, well take a look at how to carry out a Pareto Analysis: 1.
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