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SWOT Analysis | Tips For Photographers | Rudy & Marta

What the heck is SWOT?  That’s the first thing that I thought of when I first heard the term.  It was back in college in my General Business course at Valencia.  It’s simple really.  You look at your Strengths, Weaknesses, Opportunities, and Threats to your business.  I’ve kind of taken my own spin on the old SWOT Analysis, but the goal and result is the same.  A little bit of insight in each and every one of those categories can help you get your business where you want it to be and quickly.  I’d recommend getting a pen and paper and doing this with a cup of good coffee.

“I’ve kind of taken my own spin on the old SWOT Analysis, but the goal and result is the same.”

1. Strengths:  The first and one of the most obvious parts of the SWOT Analysis.  What are your strengths?  What are you good at?  Before anything can be dived into, you need to know what it is that you can do in order to figure out what you can’t do.  Analyzing what it is specifically can be challenging, but I consider Strengths easy.  It’s easy to say, “I’m awesome at ‘this’.”  Take into account why you’re awesome at this though.  Take into account the actions that you take in order to make said thing awesome.  You may be able to figure out what it is that you do that’s awesome and make it even better.

2. Weaknesses:  The second of the SWOT Analysis, which is probably a little harder than the previous is weaknesses.  This is something that I think many people have a hard time coping with.  Seeing something for what it is, accepting it, and coming up with a plan to better it is something that takes maturity and wisdom.  Looking at your business or yourself and seeing that reflection for what it is is tough.  Admitting that you suck at something is tough as well.  As things continue to be added to the list, try to look at things and come up with ideas to correct them.  It may be difficult, but it’ll help.

“SWOT Analysis is something that requires a little bit of insight”

3. Opportunities:  The third of the SWOT Analysis is something that requires a little bit of insight as far as where your business stands in your industry.  What opportunities are there for more business?  Are there opportunities for growth?  Are there opportunities for more exposure?  Look at the industry.  See what your competition is doing.  Look at your network and ask them what’s worked and what hasn’t.  Try to grow from there.  Just be careful out there.  Not everyone is kindhearted.  Everyone has their own agenda.

4. Threats:  The final part of the SWOT Analysis is Threats.  Sounds dismal, but it’s really not.  Again, look at your market.  See where your part of the market share is.  Are you a leader in your industry or a small drop in the ocean?  What can you do to prevent you from shrinking your market share?  What other business are out there that might take away that business from you?  These are all valid questions that you should take into account when doing the “Threats” portion of the SWOT Analysis.

“Okay, so you’ve done the SWOT Analysis, so what now?”

Okay, so you’ve done the SWOT Analysis, so what now?  Take into account everything that you’ve jotted down.  How can you implement this in your plans for 2015?  How can you start to take those opportunities and integrate them with your quarter one plans and goals?  Quarter two?  Are there ways you can integrate this with your business plan?

I recommend doing this at least once a year, but the more that you do it, the better.  Look at your business.  Whether it’s wedding photography, planning, or DJ’ing, this is something that every business should look into and make it an integral part of their quarter reports.

SWOT Analysis

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