Strengths: Your Competitive Advantage
A SWOT analysis is an exercise designed to provide a unique big picture of your business. For an accurate analysis, you must be honest. If you find this hard, you might hire a consultant to provide an outside perspective. A less costly method for discovering not only strengths, but the other three elements of a SWOT analysis (weaknesses, opportunities and threats) is to ask both customers and employees to answer the same questions.
Top Ten Questions
These are some of the many questions to help you dig deeper in your search for company strengths:
- What is your specialty?
- Is your location an advantage (or a weakness)?
- Are your products or services competitively priced?
- Does your firm deliver quality products or services?
- How do your company’s offerings compare to those of your competition?
- Are you strong financially?
- Are you and your employees well trained and skilled?
- Are your key executives and your workforce experienced?
- Do you have the technology necessary to compete and grow?
- Does your company have a unique selling proposition, one another company can’t match?