Performance Management – do you SWOT?

Every year I do at least one full new SWOT-analysis, in order to set the tone of my anchorpoints for the years activities.

A SWOT is a simple thing, it takes you nevertheless some time to do. Ideally you do it together with your team, according to the team’s spirit and abilities this can be quite fun and makes them take over responsibility.

swot

Try to answer the following questions:

Strengths

  • What is it that makes you unique?
  • What are you known for?
  • What does noone else do?
  • What does your client loves you for?
  • What resources do you have at hand?

Weaknesses

  • In what way is the competition better then you are, and why?
  • What does your clients hate about you?
  • What are you really, really bad in?
  • What resources do you need badly?
  • Where are the quick wins to improve?

Opportunities

  • What can you do that your competitor does not, can not do or does not see?
  • What’s happening in the world and how does it affect your market/segment/country/product/company/person/… ?
  • How did your target group change since last year and how did you react so far?
  • What low hanging fruits of passed opportunities can you still pick?
  • What would be ideal for you?

Threats

  • Who are your competitors and where are they better at?
  • Is there more or less competition? How come?
  • Why is your turnover growing or shrinking?
  • How is the micro- and the macro-environment affecting you and how must you respond to this change?

Just some inspartion – there are way more interesting questions to answer and may be you should already start finding the right question, before starting to find answers….

…. Yeah, sounds easy and boring, but it – when well done:

  • frames your activities for the new year
  • helps to argue with your bosses once agreed on
  • keeps you on track
  • compared with each previous one, shows you the evolution of your biz

Based on this SWOT, you create your action plans for the next three months or so.

Again don’t forget the circle of influence. The main mistake I have seen in the last years are these action plans being to narrow or focusing on activities outside your control. It is supersimple at the end.

 

 

 

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