SWOT is an acronym that stands for "Strengths, Weaknesses, Opportunities, and Threats." Sometimes, it goes by the name "SWOC" instead, as in "Strengths, Weaknesses, Opportunities, and Challenges."
A SWOT analysis involves looking closely at the factors that help your business succeed, and the factors that can get in the way, so you can build a more effective business plan. It's a time-honored tool for both for-profit and nonprofit companies.
Our team has written a number of helpful articles about SWOT analysis over at our resource website, Bplans.com. Here are some good starting points:
- SWOT Analysis: A Curated List of Our Best Resources
- SWOT Analysis Examples
- Turning Your SWOT Analysis into Actionable Strategies
The SWOT analysis is an optional text topic you can add to your plan.
- In the Plan tab, click the Outline link:
- Click the Topics link at the top of the sidebar:
- Scroll down to locate the SWOT Analysis block:
- Click on the SWOT Analysis block in the sidebar, and drag it to the section of the plan outline where you'd like it placed. For more on how to do this, see this video.
- Now, click the View & Edit link at the top of the page:
- Navigate to the chapter where you placed the SWOT Analysis topic. Use the sidebar to click and expand the chapters. Locate the new SWOT Analysis block, and click the Start writing now link:
- Add your text to the editing field, and click I'm Done to save: