75 Questions to Ask in Your SWOT Analysis

Every business owner should conduct a regular SWOT (Strengths, Weaknesses, Opportunities, Threats)
analysis to assess the company’s strengths, weaknesses, opportunities and threats in relation to its
competition. Use the following checklist to start on your SWOT analysis:

STRENGTHS WEAKNESSES
Marketing Marketing
 hat are our competitive advantages?
W  hat competitor advantages are stronger than
W
What is our top USP (unique selling proposition)? ours?
What is our reputation in the industry? What does our competition do better than us?
What was our most successful campaign last What was our least successful campaign last
year? year?

Team Team
 ow much experience does our team have?
H  oes our team lack any skills/expertise to
D
Do we have young employees who bring a fresh compete?
perspective? Why are our employees quitting?
What skills/expertise does our team have over Do we offer fewer benefits than our
competitors? competitors?
How do our salaries/benefits stack up? Why is it difficult to attract new employees?
Why do employees like working here? Are we adequately staffed?

Sales Sales
 o we have exclusive relationships with
D  re our distribution channels limited?
A
suppliers? Is our supply chain limited?
How extensive is our distribution network? What are our most common customer
How well do we know our customers? complaints?
What are our best sales channels? What sales channels are we missing?
What are the strengths of our sales team? Are we losing market share?
What are our best-selling products/services? What are our worst-selling products/services?
Is our location an asset? What objections do we hear from prospects?
What are our best sales months?
Finances
Finances  here are we overspending?
W
 ow well funded are we?
H Are we taking on too much debt?
Where can we get quick access to more capital? Do we have cash flow issues?
How do our financials compare to our industry’s? What are our least profitable products/services?
What are our most profitable products/services?
Operations
Operations  ow much growth can our location handle?
H
 o we have exclusive access to any resources?
D Do we have an updated disaster plan?
Do we have proprietary technology, intellectual Do we have adequate insurance coverage?
property, or other valuable assets? Which parts of our business run inefficiently?
Which parts of our business run efficiently?

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75 Questions to Ask in Your SWOT Analysis (continued)

OPPORTUNITIES THREATS
Competition Competition
 hat are our competitors’ weaknesses?
W  hat are our competitors’ strengths?
W
Can we buy or partner with one of our Are our competitors planning to expand or add
competitors? products/services?
Are new competitors entering the market?
Market
 re there market changes we could benefit from?
A Market
Are we overlooking a niche market? I s our target market shrinking or shifting?
Do customers want something new from us? Are there social changes that could hurt us?
Is it time to expand to new locations? Are we too reliant on one customer?
Can we form strategic partnerships? Are there any innovations that make our
Can we find new suppliers offering better prices? business unnecessary?

Economy Economy
 ow might current and projected economic
H  ow might current and projected economic
H
trends positively impact us? trends negatively impact us?
Are there new funding sources we can tap? Are there potential financial or tax changes that
Could projected changes in interest rates, tax could hurt the company?
laws, or banking regulations benefit us? Can we afford or find skilled employees?

Government Government
 ow might changes to local, state, and national
H  ow might local, state, and national government
H
governments help us? changes negatively impact us?
What government programs can give the
business an advantage? Technology
 ow secure is our critical data?
H
Technology Do we have any outdated hardware/software?
 hat new technologies can help us?
W
What processes can we automate?

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