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I wrote this post back in December as we were closing out 2020. December is a great time to conduct an end-of-year SWOT (Strengths, Weaknesses, Opportunities, Threats) self-analysis. Truthfully, you can do a SWOT self-analysis at any time of the year, you don’t have to wait until December. Doing them quarterly is a great idea. Right now is a great time to do an end-of-year self-analysis.
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Conduct A SWOT Self-Analysis Frequently
I am going to give you a few ways to conduct a SWOT self-analysis. I conduct a SWOT self-analysis to take an inventory of my life. Looking at different aspects of my life to see where I became better, stayed the same, and where I’m worse off. Some of the areas that I look at are my goals, my plan, my education, and my expenses. In each area, I evaluate my strengths, weaknesses, opportunities, and threats.
Since our goals are simply what we want they are easy to analyze. Did I accomplish them or not? Doing a SWOT self-analysis of your goals is crucial to set goals for next year. I break down my goals to make sure they were specific, measurable, attainable, relevant, and time-bounded. If I accomplish my goals easily, I know I need to set more challenging ones for next year. If I did not accomplish my goals, I want to find out why. Maybe I overestimated my abilities and set unattainable goals.
The next thing I do when conducting SWOT self-analysis is going over my plan. Accomplishing the goals I set for myself all depends on my plan. If the plan I had didn’t succeed then I need to change my plan. By analyzing my plan I don’t waste time doing things that didn’t achieve the results I expected. Achieving great results means my plan is working so I continue with the plan. If it ain’t broke don’t fix it.
I always like to go over my education. I look at courses I purchased, books I read, and people I listened to. Writing down what I learned, if anything, from these different educational tools, helps me to see if I’m on the right path. You can analyze what you learned about yourself, your business/career, and your relationship.
For me, education is important and I never want to stop learning. This analysis of my education also helps me to analyze my goals. For example, if I didn’t achieve a goal in my business but I learned some new marketing tactics then I know I’m on the right track. If you are failing, don’t beat yourself up. As long as you are learning and doing you’re on the right track. Everything you’ve done in the past is like sowing seeds that will begin to sprout soon.
Finally, I analyze my expenses. I want to see where my money is going. Am I investing my money or spending my money? For my business, some of the things I look at are courses I purchased, marketing expenses, as well as apps and plug-ins. I want to see if they were worth it or not. By conducting this analysis of my expenses I get a good indication of my return on investment. I can then determine what expenses I cut and what I continue for next year.
Decide today where you want to be this time next year. Conduct a self-analysis and put together a winning plan for next year. Commit to working on this plan every day and you will be a different person a year from now
3 thoughts on “Conduct A SWOT Self-Analysis”
Great post! SWOT sounds like a great way to stay on the right track and evaluate your life.
Thank you, Pooja. I appreciate your wonderful comments. Take care. Scott