A S.W.O.T. Analysis is a simple yet effective marketing exercise to help a business focus on improving sales.

1. "S" - STRENGTHS

2. "W" - WEAKNESSES

3. "O" - OPPORTUNITIES

4. "T" - THREATS

You don't need a marketing guru to conduct the analysis - you can do it yourself if you're willing to be honest. Start with 4 blank pieces of paper and title them using the 4 headings above.

Here are some examples to get you started.

STRENGTHS could be -
Your location; a one of a kind product or service; a reputation built over the years; your staff; etc

WEAKNESSES could be -
Your location; similar products and prices offered by nearby competitors; a bad reputation;
not enough parking for customers; etc.

OPPORTUNITIES could be -
Competitor goes out of business; new products available from supplier; new homes being built
near your location; use the internet to expand sales; etc.

THREATS could be -
New competitor opens nearby; gas prices going up; street construction causes detour away from from your location: etc.

With a completed analysis - you are better equipped to develop an effective marketing plan.