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Your Home Business Check-up

Written by: Lindel James

Article Overview: As a business owner you must have that capacity. You must be able to truly assess your strengths and weaknesses and be able to determine your opportunities and threats. Successful business owners regularly administer their own SWOT analysis. If you have never done this for your business, you must stop and do it now!

Your Home Business Check-up

Your Home Business Check-up

Can you be very honest with yourself? I am here to tell you, that as a business owner you must have that capacity. You must be able to truly assess your strengths and weaknesses and be able to determine your opportunities and threats. Successful business owners regularly administer their own SWOT analysis. If you have never done this for your business, you must stop and do it now!

You must look carefully and honestly at your personal (you are your business) strengths and weaknesses. You must also assess your external and environmental opportunities and threats.

Let’s consider your strengths - Do you have a passion for what you are doing? Do you have confidence that is built on previous solid wins? Do you have perseverance (are you willing to keep going when that going gets tough)? Do you really love working with people? Can you honestly think about what’s in it for them and not be “all about you”. Have you identified your niche?

Are you aware of your weaknesses? – Does the telephone feel like a two ton brick? Are you too shy to lead a “silent prayer”? Does networking make you nervous? What’s your relationship with money?

Now let’s consider your environment and look at your opportunities and threats. An opportunity would be a need for your product or a need for others to earn additional income. A population base that supports your sales and recruiting goals. Competitive products and pricing also provide opportunity. Conversely, threats would be the opposite of the opportunities.

Now, take out a pad of paper, grab a pen draw a line down the middle of the paper, and across the middle of the paper; at the top of the page on the left, write strengths; on the left side, write weakness.

On the bottom left write, opportunities and the bottom right write threats. This can be quick, but will give you that SWOT analysis that is a necessary piece to grow a successful business. Pay attention to what you are seeing and look for support to turn your weaknesses to strengths and threats to opportunities.

I would love to know how this works out for you!

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