Personal SWOT analysis is a simple and powerful tool to identify strengths, weaknesses, opportunities and threats around you. We have covered the topic of strengths and weaknesses
This article will cover the piece on identifying the new opportunities, match your strengths and resources/capabilities to it and identifying and managing the threats in the competitive environment. The SWOT matrix can help you to know where you have and the best strategy to pick.
Personal SWOT Analysis
|List down your strengths identified in last session.||List down your weaknesses/ area of improvements identified in last session|
|What is unique about you? What does others see as your strengths?||Separate the weaknesses into 2 categories|
|What is your passion/interest? What is unique in you (your strengths/talents) to achieve the your passion/interest?||(1) Weaknesses that you can manage through leveraging/delegating to others.|
|Think deeper into your interest/passion – what you have that will give you advantage and competitive edge towards others?||(2) weakness “pitfall” which can cause your downfall/unable to achieve your personal goal|
|What is the opportunity around you which is open to you?||What threats do your weaknesses will expose you to? Aware of the potential impacts/consequences|
|Can you turn your unique talents into opportunity?||For (1) weaknesses that you can manage through leveraging/delegating to others – refer the opportunities column|
|Is there demand against your unique talents? Can it create a biz oppt (career)?||For (2) weakness “pitfall” which can cause your downfall/unable to achieve your personal goal ==> you need to understand the harm it can cause you, what the competition (if any) is doing?|
|Think about your passion/interests and look around you – is there any good opportunity around you?||For (2), it is important for you to develop an “attack” or “defend” strategies suitable to mitigate your weakness. You need to take proactive action to improve it e.g. attend development class, have support group etc.|
|Managing your weaknesses: In areas of your weaknesses, look for available resources/people/tools who you can leverage to fill the gap. Ensure you have a good process/ways to monitor the results and know what is going on.|
Identifying opportunities and threats can’t be done in silo, you need to understand and know your strengths and weaknesses before doing this exercise.
Identifying new opportunities is looking at your talents/strengths, link it to your passions/interests, and look at your environment, and whether there is demand for the talents? Can you create the market niche? Can you turn your strengths into opportunities?
Sometimes, identifying opportunities doesn’t come as straight forward as it should be! You may need to fine turn your talents to meet the market demands. However, to be able to work on your area of interests/passions will sustain you and continue to motivate you! If you know you are good in it, and probably the best in the field, you will continue to persevere!
At the same time, you need to identify threats around you identifying what is your pitfall is important. You need to able to manage/elimate it.
Doing a Personal SWOT Analysis and writing it down help you to visualise your current position better and where the new opportunities and threats lie! And it help you to strategize better to achieve your personal goals.