Fulfilment of human potential is impossible without understanding your core skills and talents. In order to succeed in life, you should know your strengths and weaknesses. The first important step that you need to take is to pay attention to what is going on inside your mind and around you. A personal SWOT analysis can help you become more self-aware and create your own plan of personal development.
SWOT analysis is a method that many businesses use as a part of developing their strategy. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. It can be applied to organizations and help to understand what a business should or should not be doing. But SWOT can also be used on an individual level.
SWOT Analysis can help you to:
- Understand your strengths in achieving goals
Your skills, talents, knowledge or personal traits that make you stand out from the crowd are your strengths. Think of your strong points as something that can be developed or improved. Knowing and using your strengths can make you happier and more fulfilled at work.
- Find out your weaknesses which can become an obstacle in life and work
Your weaknesses are those personality traits that prevent you from performing better in your field. Being aware of your weaknesses gives you the opportunity to use the help of people that have the necessary skills you lack, or to acquire this knowledge by yourself, this way turning your weaknesses into strengths.
- Evaluate the external environment that can help you get things done
You cannot change external circumstances, but it does not mean that they do not provide the opportunities you need to achieve the goal. A situation in your home country, currency rate, industry growth, or even climate changes, can help you to get what you need.
- Evaluate the external environment to find threats that hold you back from set goals
External circumstances can carry not only opportunities but also threats. SWOT analysis will help you to think in advance about how to avoid them and give you the opportunity to prepare for them.
How to fulfil a personal SWOT matrix?
At the very beginning of this task, take a look at the template for SWOT analysis below. You can download it here.
Before analyzing yourself, you need to find a direction in which you would like to conduct the analysis. Think about your goals or tasks you have at the moment. These could be things like a change of workplace, starting a business, finding your new fashion style or desire to run a half-marathon.
After setting the goals, get two sheets of paper and write down your strengths and weaknesses. For example, your goal is to launch a new business in LA. Your strengths could be things like a business degree, innovative business idea, many connections in a similar sphere, strong communication skills, etc. And what are your weaknesses? These could be things like a lack of marketing skills, few resources, little technical knowledge, etc. Choose the most important points and put them into the first two blocks.
Once you are done, move on to the analysis of opportunities and threats. Opportunities and threats are external circumstances that you have no control over, but they still influence your goal. Answer the following two questions: 1) Which circumstances contribute to your goal-achieving 2) Which hold you back? For example, the absence of competitors on the market, technological progress, online shopping development, financial crisis, etc. Put the most relevant opportunities and threats into the matrix.
Answer the following two questions: 1) Which circumstances contribute to your goal-achieving 2) Which hold you back?
Analyze your points once again, this time base your evaluation on the comparison of the following blocks:
1. Strengths – Opportunities
What are the strengths you need to make the most out of your opportunities?
2. Strengths – Threats
Which strengths can help you eliminate the threats?
3. Weaknesses – Opportunities
Which external opportunities can help you to overcome the existing weaknesses?
4. Weaknesses – Threats
What are the weaknesses you need to overcome in order to try to prevent external threats?
Performing SWOT analysis can give provide you with some useful insights and pinpoint what needs to be done in your current situation. Any time is a good time for a self-assessment. Use this method when you need to go to an interview, apply for promotion or launch a new project. We wish you to achieve all your settled goals!
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