Bradley H. Smith >

13 steps to build an effective SWOT analysis (STEP 11)

Conducting a Strengths, Weaknesses, Opportunities, and Threats analysis of your business should be a dynamic venture. It can no longer be siloed as a static, once a year (if even) exercise in preparation for your annual sales and marketing meeting.

SWOT analysis does not take much time, and doing it emboldens you to think about your company in a new frame - helping your team to improve your CONTINUOUS business strategy by making sure you’ve considered all of your business’s strengths and weaknesses, as well as the opportunities and threats. 

A SWOT document is as important as a mission statement or your brand book.

Let’s work on the 13 steps to build an effective SWOT analysis.

1. Involve employees from all the vital departments within your company in the SWOT analysis. They will know nuances you may miss.  (SWOT: strengths, weaknesses, opportunities, threats). 
2. Consider involving important clients, suppliers and other trusted partners who know your niche and can provide an objective view. 
3. Ask contributors to collect and review information on internal resources and external factors affecting the company and industry.
4. Assemble a SWOT team brainstorming conference to pinpoint your organization's strengths and weaknesses as well as the opportunities and threats.
5. Select a moderator for the brainstorming session. Decide whether you have the in-house skillset and objectivity to moderate the session, or if you should use a third-party moderator.
6. Fashion an open and honest atmosphere, totally void of judgment towards others’ suggestions; especially be forthright about weaknesses and threats.
7. Examine internal operations such as finances, marketing, management and personnel, production to categorize strengths and weaknesses.
8. Analyze competitors, customers and suppliers within the business environment and market to identify opportunities and threats.
9. Examine, point-by-point, the ideas that have been raised during the brainstorming. Reach 99% analysis unanimity on what are the key strengths, weaknesses, opportunities and threats. 
10. Isolate any additional information you need to confirm your analysis and if further market research is required.
11. Evaluate the implications from your analysis on your business and identify areas where you have competitive advantages and disadvantages.

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About Bradley:

"I have worked with Bradley Smith as CEO of NIRI for the past several years. Bradley is an important, trusted and knowledgeable marketing and business professional. Bradley's energy is infectious as he represents his organization and helps others around him succeed.

He has been a critical resource to NIRI on many occasions regarding key investor relations issues - disclosure, transparency, communications, both to help educate NIRI's 4,000+ members, as well as an information resource for advocacy efforts with the SEC. Bradley is truly “a member and partner” of our professional organization and has always gone well beyond being just a “service provider.”

Bradley cares. In my personal opinion, Bradley Smith is an outstanding individual and professional.

Jeffrey D. Morgan, CAE
CEO ~ Club Managers Assn of America (CMAA)
https://www.linkedin.com/in/jeffreydmorgan

PROFESSIONAL HISTORY: President & CEO ~ National Investor Relations Institute (NIRI)

Recommended (awesome) vendor #3: 3DL Design – tradeshow exhibits and displays

Tradeshows are expensive. Period.

You REALLY need a vendor that you can trust. I have used 3DL since 1992. Their guidance through the world’s second largest tradeshow – RSNA – shaped my success for tradeshows forever.

Why they are awesome.

• Creative with design, traffic flow and pricing.
• Listen to my ideas and build on them.
• At show support – INCLUDING the show’s damn paperwork.
• Great people. They type you WANT to do business with.

http://3dldesign.com/index.php

Kathleen Ard,  262.842.0530

 

EXAMPLES: They take my napkin doodles and make them real.

Large scale: 20' x 60' x 24' tall, conference room and product workstations. I need to compete with GE, Siemens etc in medical imaging. 

 

Small scale: I actually DID give them a skecth on a cocktail napkin for these kiosks. They built my design exactly > http://bhsmith.typepad.com/ibradleyblog/2011/04/inline-booths-are-very-challenging-to-create-and-work-here-is-what-i-found-to-work-well-.html

Recommended (awesome) vendor #2: Facilitations for promotional items – “tchotchkes”

Promotional items vendors are dime-a-dozen… as well as many via mail order. I have used Facilitations, based in Acton, MA for over ten years.  

Why they are awesome.

•  Face-to-face (and Skype) meetings – as the costs for promo items can go into the multiple thousands of dollars, I REALLY like to know the vendor.
• Brings exact samples of the product – I can touch the quality.
•  Very, very good prices.
• They triple check  your art and can adjust to fit the exact application. Different materials (ceramic, cloth, plastic) have different graphic attributes.
• Great people. They type you WANT to do business with.

www.facilitations.com

Tom Wachtell, Owner tel 978.263.8589

 

EXAMPLES:

http://bhsmith.typepad.com/ibradleyblog/2011/04/everyone-toasted-my-brand-at-the-industry-annual-evening-cocktail-event.html

http://bhsmith.typepad.com/ibradleyblog/2011/04/speaking-of-tchotchkes-put-your-marketing-messaging-and-logo-on-the-back-of-the-t-shirt-people-wont-.html

http://bhsmith.typepad.com/ibradleyblog/2011/04/turn-your-tradeshow-tuchotchke-into-an-conference-souvenir-and-attendees-are-guaranteed-to-grab-and-.html

 

Recommended (awesome) vendor #1: Liverpool Litho, commercial printer - perfect for B2B

I have used Liverpool Litho, based in Syracuse, NY, for almost twenty years - across four jobs in three cities including InfiMed, MUNCmedia, Shareholder.com and NASDAQ OMX

Why they are awesome.

•  Excellent quality, mid size presses and smaller. Copy business too.
•  Very, very good prices.
• Direct file to press (both digital and traditonal offset plating).
• They PROOFREAD your work PREPRESS. That has saved my ass more times than I would like to admit.
• Exceptional work ethic. Very polished.
• Great people. They type you WANT to do business with.

http://liverpoollitho.com/homepage.html

Tom Wallace, Owner 315 457-7007 > [email protected]

Their head of graphics and prepress, Jane Sadler, is a dream to work with. 

 

Placesettings for an industry luncheon of 1,500. I had them print 4 over 4 on very thick stock with slits to lock the roll together.  Smiling faces on the outside, logos and testimonials on the inside.