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The SWOT Analysis and Why Your Business Needs To Do One NOW

A SWOT analysis assesses the Strengths, Weaknesses, Opportunities and Threats of a business, venture or project. In plain english, a SWOT will help you determine your niche, your unique abilities and talents, and the internal (strengths and weaknesses) and external (opportunities and threats) factors that can affect your business. As someone who loves you (hopefully) told you, you are unique and possess strengths completely different than others. This is true in business as well, not matter how broad the industry. For example, I have determined that some of our strengths lie in our sheer longevity in the Digital Marketing business. We have a ‘unique’ passion and obsession with this industry. Our team has been devouring social media marketing content, innovating, and planning for the future of the web since Day 1. Thought leadership means something to the right consumer. We’re also pretty charismatic and love teaching people about the power of the net. These strengths are layered by years of content, books, and classes. Weaknesses however can come from the boutique size of our organization. We are a talented, informed and genius group, but don’t possess the hundreds of employees that say an Ogilvy does. While some feel that a boutique shop can cater better to the needs of a small business, or even give a brand of a larger corporation specialized attention, some simply don’t. One might perceive this as a weakness.