SWOT Analysis for Your Business (Strengths, Weaknesses, Opportunities & Threats)

Today, we’re going to go through a SWOT analysis (strengths, weaknesses, opportunities and threats) of my business, with the intent for you to follow along with your own!

Get out a pen and paper and let’s do this.

So, what are your strengths?

Here are some of mine:

  • I’m creative
  • I like to use my hands
  • I overcome and figure out solutions
  • I’m an endurance athlete, and business is an endurance event
  • I’ve been doing this for 20 years

What are your weaknesses?

These are typically easier for us to pick out.

Here are a few of mine:

  • I get distracted easily
  • I’m not organized
  • Some days, I can’t focus
  • Facebook ads, social media, video editing

When it comes to weaknesses, the most important thing you can do is hire them out. For example, if you aren’t the best at selling, hire a great front desk employee to sell your services for you.

Let’s talk about threats.

The main ones right now are all about the current state of the world. It’s, “When will I be able to reopen?” “Will my employee come back?” “Can I rehire the employees I let go?”

There are also a couple ones that are timeless: “A clinic just opened across the street.” “I’m too busy. I need to hire someone.” “I need to rent a bigger space.” “I’m running out of time.”

As far as competitions go, as long as you offer a service that is unique to your skills… there are no competitors. Remember: mp3 players existed before iPods. Apple just did it differently. ;-D

And finally, opportunities.

They are endless. One of the biggest ones I see right now is bringing your community together. Another? Serving people in their home (or over video) so they don’t have to go to a busy orthopedic surgeon’s office or urgent care center.

The bottom line of all of this? If you focus on your strengths and creating opportunities, in the end, patients will come to see you.

Want to learn more about implementing telehealth into your business long-term? Head here!

 

 

About The Author

Aaron LeBauer

Aaron LeBauer PT, DPT, LMBT started a 100% cash based physical therapy practice right after graduation. He's on a mission to save 100 million people from unnecessary surgery & enjoys helping passionate therapists build successful businesses without relying on insurance.

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