I always say: “A Strengths/Weaknesses Analysis should never be done solely for your own company, but especially for your customers. With your own SWOT analysis, you get good products, but with an analysis of others’ SWOTs, you get good customers.”
A SWOT analysis helps to identify your own strengths (Strengths), weaknesses (Weaknesses), opportunities (Opportunities), and threats (Threats). If you think you shouldn’t consider negative influences because they might hinder your progress, think again; you need to know them. Only then will you know what you should avoid discussing. And this is important. For example, what does a fast food chain talk about in its TV ads? Is it about the beef with the AMA quality seal, or about the cheese that will never truly be cheese? If I know that my cheese, due to its composition, might be a hindrance, then I simply don’t talk about it. Our brain, especially our subconscious, only notices what is obvious. That means, if you see all the products in an advertisement – such as meat, tomato, bread, cheese, salt, ketchup – and only the meat with the AMA quality seal is mentioned while the other products are just shown, we subconsciously assume that the other products are also good. It’s that simple. Smart move by the fast food chain, right? Therefore, you need to know which obstacles you should skillfully navigate around and which strengths can deeply impress others.
The SWOT method was developed in the 1960s at Harvard Business School for companies and is intended for effective planning. It’s crucial to consider strengths and weaknesses internally (from the product itself, from employees, from the company itself) and opportunities and threats externally (from competitors, suppliers, customers). Then you examine how to maximize strengths and opportunities and minimize weaknesses and threats. Otherwise, the analysis remains just a status report, and honestly, the effort isn’t worth it. Before you start this analysis, you need to be clear about its purpose (goal)—whether for a project, a new company, a product, or a person. And you need to keep it updated regularly, ideally continuously in today’s fast-paced world. 😉
To illustrate, let’s look at an example with a company, and then we’ll apply the SWOT analysis to personal branding.
Example SWOT ANALYSIS for the Organic Egg Producer EIERREICH
Own SWOT: Eierreich wants to expand with Green Egg Layers (Chickens that lay green eggs, which are supposed to be cholesterol-free)
Strengths (internal): Best conditions for chicken coop, pastures, nests, etc., experience is available, we find green eggs wonderful, organic certification is in place.
Weaknesses (internal): Hawks prey on chickens, taking one per month; research results for cholesterol-free eggs are still shaky.
Opportunities (external): The green egg market is booming in England due to being cholesterol-free. Germany is starting as well. Austrian customers are also looking for healthy, regional organic products with added value (low cholesterol). Easter (no more egg coloring ;-))
Risks (external): No organic green egg layers in Styria; customers are not willing to spend much money per egg. Other, especially large egg suppliers, recognize the market and could supply more easily and quickly due to their size.
Minimizing Weaknesses/Risks:
1.No organic green egg layers available: Buy organic green eggs and hatch them yourself (since we have a few very eager brooding hens).
2.Research results: Advertising: Report on the hype in England, relating it to areas where we have also been pioneers (When someone has already been successful elsewhere, we tend to trust those people and countries more. This has to do with our subconscious).
External SWOT: For a large Styrian egg producer interested in green egg layers
Strength (internal): Established company with a good reputation. Can secure income from regular eggs if green eggs are not accepted. Works with regional farmers.
Weakness (internal): Faces difficulties with animal diseases. Their eggs are not organic.
Opportunity (external): Can cover demand across Austria.
Risk (external): Foreign markets could drive them out with cheap eggs. Customers who consciously prefer small regional suppliers might avoid them.
Our Opportunity based on the Competitor: This competitor is interested in a collaboration. And the demand for small niche providers from the public is constantly growing. A sponsorship concept for organic egg fans is being developed.
Example SWOT Analysis for Personal Branding
Own SWOT:/strong> Law student with no work experience seeking a job
Strengths (internal): Excellent academic performance, high interest in justice.
Weaknesses (internal): Rejects work in a law firm, studied for too long.
Opportunities (external): Justice, gender, and diversity are becoming increasingly important in society; companies need more legal experts due to increased litigation and disputes.
Risks (external): Many law students competing for initial work experience.
Minimizing a Weakness: Intelligently justify the prolonged studying period. I have worked in between, which could be the subject of a study: Analysis and insights into workplace entanglements and possible precautions.
External SWOT: Law students with short study periods seeking jobs
Strengths (internal): Completed studies in minimum time, good grades, often have good connections, don’t need a job quickly due to parental sponsorship.
Weaknesses (internal): Lack of experience with work and employment relationships.
Opportunities (external): Often offered jobs due to connections.
Risks (external): Due to connections: Companies may not trust them as much, and acquaintances may talk behind their backs about incompetence.
My Opportunity based on Competitors: I can convey enthusiasm for a job more genuinely than someone who feels secure in their job. My study demonstrates competence and implementation strength. I will start a blog to express my interests and offer high expertise. Through these activities (study & blog), I can now provide the often-desired initial work experience.
By comparing the own and external SWOT analyses, new perspectives arise, and negative beliefs can dissipate. The SWOT analysis is an ideal method for gaining more “healthy” self-confidence and forming the basis for your USP—your unique selling point—to stand out from the crowd and be interesting to your future employer.
For more career tips from Doria, click HERE!
