SWOT

SWOT

You’re pulled in a thousand different directions and find it difficult to prioritize tasks and focus on what matters. We learned a simple ‘hack’ years ago that engages the staff, helps direct attention and gets things done: “SWOT” Strengths, Weakness, Opportunities and Threats.

Having been in business many years now we have learned to become macro-managers; it didn't used to be this way. We felt we needed to know what was going on in every single facet of our business. To grow a business you must learn to delegate micro responsibilities so you can focus on the big picture. It is impossible otherwise. So when we have staff that explains a particular problem we always insist on a solution. If they don't have an immediate solution we ask them to sleep on it and come back with a resolve. We don't accept problems without proposed solutions. While some may believe this is antagonistic or thwarts open communication, it actually engages employees and invites constructive ideas. This approach also instils a sense of ownership in a common cause.

We have monthly management meetings that always incorporate a discussion of our company’s SWOT. Our SWOT is dynamic and always evolving. Each manager is asked to bring a new SWOT to the monthly meeting; one sentence  per SWOT line-item. So every month we get 12-14 new SWOT analysis to discuss and evaluate for improving our business. If there is duplication in any of the SWOT line items these get prioritized. When our staff brings us a problem with a proposed solution, it's our monthly SWOT meetings that contribute to this practice. Our SWOT allows us to macro-manage our business and spend our time where needed for growth. 

SWOT’s help discern problems and solutions. They enable critical thinking during times of change and offer a sense of involvement and ownership with the staff. Every organization should have a SWOT, no matter if you have 1 employee or 1,000. SWOT’s are dynamic and will help you effectively manage and grow your business. SWOT's help you prioritize.

If you're just starting a business, have a SWOT on your desktop and review it monthly. Set a calendar reminder. It promotes thinking in a way that is often obfuscated by the other tasks that are constantly vying for your attention. It is a tool for direction and focus. It helps to push the 'reset button', regroup and focus on what matters.  

Enjoy this ‘Biz Bit’? Please visit our Google+ page and follow us. Then visit BizClaz.com to place a FREE B2B advertisement for your products or services- no cost and no obligation!