SWOT Analysis is an acronym for ‘Strength, Weakness, Opportunities, and Threats’. This assessment is an integral part of any business or marketing plan worth its salt because it provides the intrinsic information needed to develop a strategic plan of action for optimum results and growth.
Likewise, this assessment is equally important for individuals. A SWOT analysis can be done for individuals to determine the way they should pursue their career in order to achieve their goals. Whether you are looking for a new job or want to climb up on the corporate ladder, you can fast-track your success with personal SWOT analysis. It is a creative way of self-assessment to help you determine where you are standing in your career and where you are going.
A personal SWOT Analysis will help you determine:
- How to harness and enhance your Strengths?
- How to manage your Weaknesses?
- How to unveil new Opportunities for growth?
- How to eliminate Threats that are blocking you from moving forward?
How to Conduct a Personal SWOT Analysis?
For personal SWOT analysis, you have to ask yourself the following questions and write down their answers on a paper. For doing so, it is recommended making four segments on the paper. One Segment for each and jot down the answers of all the questions.
- What are the professional qualifications I possess that make me stand out from the peers?
- What is my greatest achievement in life?
- What others (my bosses or peers) think about my outstanding skills?
- Where am I lacking in technical skills, education or training?
- What others (my bosses or peers) think of my weakness?
- Do I possess any undesirable habits and personality traits?
- What new skills or knowledge I need that can provide me a competitive advantage over others?
- What are the areas of growth for my Industry?
- How can I leverage the potential of my connections for my growth?
- Identify your competition?
- Are new technologies blocking your growth and progress?
- Is your industry is involving in a way that could degrade your progress?
If you think you cannot provide honest answers to the above questions, it is recommended to asking someone who knows you well. It could be anyone your colleague, spouse, coworker or boss whom you trust and can provide you with honest feedback for your analysis.
How to Determine Your SWOT Analysis Outcome?
Evaluating your SWOT Analysis results involve two different methods
– 1. Matching
– 2. Transform
Matching implies connecting two or more different categories to identify where you are actually heading towards. For Example, matching an opportunity with your strength will show you where you need to take action actively for your growth. Likewise matching threats with weakness will show you where you need to work more or which situations you need to avoid.
The second one is Transform. It implies to convert all the negatives into positives. In simple words, transforming your weaknesses into your strengths or your threats into new opportunities. It means learning a new set of skills or training yourself in a creative way to convert your weakness into your strengths. For example, suppose you are an outgoing person who loves to interact with people. Then working alone in an isolated environment will not work for you.
But if you take up a position such as marketing or sales which allows you to interact with people on daily basis, then you can effectively turn your this weakness into your strength.
Personal SWOT Analysis is of no use if you are not taking necessary actions for your growth. It is important to identify the areas of change and take desired actions to eradicate your weaknesses and threats.