Bring in the SWOT team
SWOT analysis takes a look at Strengths, Weaknesses, Opportunities and Threats....
Strengths: What things do you do very well that are important to your business? What would be the impact if you applied those strengths to tangential and complementary activities?...
Weaknesses: How important are they once you’ve identified them? How can you strengthen those areas? How can you isolate their impact so that while they exist, they do little or no harm? What might happen if you ignore them?...
Opportunities: Where are the low hanging fruit? Where might a modest improvement make a significant impact? What aren’t your competitors doing that you can for competitive advantage? What do your customers want that will improve their experiences with you? Can you exceed their expectations?...
Threats: What are the threats? What might their impacts be? Can they be avoided? At what cost? What if you ignore them? Can you achieve competitive advantage by preemptively addressing them?"
From this article by Frank Demmler.
