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Published on April 2, 2020

What Is SWOT Analysis? 5 Ways It Accelerates Your Self-Improvement

What Is SWOT Analysis? 5 Ways It Accelerates Your Self-Improvement

If I told you that there was one activity that you could do frequently that would dramatically accelerate your rate of self-improvement, would you do it?

SWOT Analysis may very well be the solution to your problems of feeling lost, unproductive, worried about the future, and the general struggle that inevitably arises on the road to personal development. It is quick to carry out, reliable in terms of changing your perspective, and effective in getting you the results that you desire.

So what exactly is this SWOT Analysis? You will find everything you need to know about it below as well as how to do it and all of the amazing benefits that it will bring to your life.

What Is SWOT Analysis?

SWOT Analysis is a business term that has steadily made its way over into the world of personal development due to its effectiveness in getting things to improve — whether that be a company or, more recently, a person.

S.W.O.T. is an anagram that stands for Strengths, Weaknesses, Opportunities and Threats. When assessing these four key pillars in life, it gives a very good picture of which direction you should be heading in and even highlights some of the best ways to do it.

All in all, it is a great way to reflect on past actions and to decide on the best way to move forward.

How to Do a SWOT Analysis

Carrying out a SWOT Analysis is relatively simple. The best way is to take out a pen and paper and write down four columns: Strengths, Weaknesses, Opportunities, and Threats. From there, you can begin to fill out each one and apply it to whatever situation you find yourself in.

If you are considering expanding your enterprise, you might want to write down the current strengths and weaknesses of your business as well as the opportunities that you could possibly move into and the threats that you might need to minimize.

If you are an individual looking to improve yourself, you can carry out a SWOT Analysis either on the micro or macro level. A micro example would be focusing on one specific area of life. For example, you could write down your strengths, weaknesses, opportunities, and threats when it comes to dating, productivity, or changing your job.

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You can also take it to the macro level. You might simply write down your current strengths, weaknesses, opportunities, and threats across all areas of life — or simply the areas that you want to focus on for now.

SWOT Analysis is very easy to do and is excellent for the bigger picture stuff. Here is a rough template with a few questions across various areas of life that you can use for your own personal development purposes:

Strengths

What professional qualifications do I have that make me stand out from everybody else?

What do I exceed at where most people are either average or below average?

What achievements have I been awarded?

What struggles have I overcome in the past that give me hope for the future?

Weaknesses

Where do I fall short where others seem to excel?

What bad habits do I have?

What thoughts tend to hold me back?

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Opportunities

Is there any significant advancement happening or about to happen that I can take advantage of?

Is there a new position in a company that maximizes my skillset?

Is there a gap in the market that I could potentially fill?

Is there an opportunity that is low-risk (i.e. I can fail fast and decide if I want to keep pursuing it)?

Threats

What competition do I face in a certain area?

What is the most likely thing to throw me off course? Is it me?

If there was an economic downturn, would I be in a position to survive? Could I even turn it into an opportunity?

Benefits of SWOT Analysis for Self-Improvement

Now that you know what it is and how to do it, you may already start to see all of the benefits for your personal growth that can come from a SWOT Analysis. If you haven’t already started to think about how to use it in your own life, here are a few ideas to get you started.

1. It Gives You an Actionable Plan

One of the most obvious benefits of doing a SWOT Analysis is the fact that it gives you an actionable plan. It is rare for someone to actually sit down and write out their strengths and weaknesses as well as the opportunities and threats they are facing, so you will be getting well ahead.

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More importantly, taking the information from all four of these areas allows you to create an effective plan for yourself going forward — whether that be doubling down on your strengths, a plan to overcome your weaknesses, or how to leap at one of the opportunities in your life.

SWOT Analysis is designed specifically to drive actions and decisions — it is not simply a discussion exercise that you put to one side once you are finished with it.[1]

2. It Allows You to Zoom Out

Far too many people are so trapped within their day-to-day activities that they forget to see the big picture. Not being able to see the forest for the trees is one of the things that hold many people back from reaching their full potential.

SWOT Analysis allows you to take a moment of reflection, see the big picture, and then to make an informed decision about what your everyday tasks and activities are going to be, rather than the other way around.

It is important to be able to zoom out from time to time to make sure that you are on track with whatever your objectives are in each area of life. SWOT Analysis is the best way to do just that.

3. It Helps You Recognize New Aspects and Patterns

One of the unique things about SWOT Analysis is that it manages to combine different areas of your life and lets you see patterns, opportunities, and much more that you wouldn’t have otherwise seen.

An example would be the combination of your strengths and your opportunities. When you look at both of these side-by-side, you get a good idea about where the crossovers are, and, as a result, you get a clear picture of what opportunities are worth pursuing based on your strengths.

Another example would be looking at your strengths and threats next to one another. When you have a decent idea about what your strengths are in a certain situation, you can start to see how those strengths might come in handy when it comes to mitigating certain threats that you might face.

The truth is, any combination across SWOT Analysis creates a unique perspective that will be extremely useful for your own self-improvement.

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4. It Minimizes Risk

Branching out from the previous point, a SWOT Analysis is carried out to help minimize risk [2]. Although this is primarily a benefit from a company’s standpoint, it can also be helpful from an individual’s perspective as well.

On a personal level, risk can come in a variety of forms. It might be an imaginary risk that feels real, like asking your crush out or asking your boss for a raise. It might be an actual risk where you are thinking of expanding your business or entering a new market where you have little experience. Either way, seeing the threats you face as well as the strengths, weaknesses, and opportunities you have allows you to go down the path that minimizes risk and maximizes gain.

5. It Can Marks Stages of Your Path

An interesting way that companies use SWOT Analysis is that they carry it out every month or every quarter in order to reset and recalibrate their destination. It can be used in a similar way by you as well. Just like there are certain times when businesses use them, there are certain times when you should use them.[3]

Every month or every couple of months, take the time to do a SWOT Analysis to see how you are progressing. What strengths have been added? What weaknesses have been discovered? What opportunities have revealed themselves or been lost? What new threats are you facing and which have been removed from the picture?

Not only will carrying out a SWOT Analysis on a frequent basis accelerate your self-improvement by helping you see where you want to go with less distraction, but it is also nice to see how things change and, hopefully, get better.

It is also worth looking back at your SWOT Analysis from the start of the year when you reach the end of the year to see how far you have come.

To Wrap Up

So there you have it. SWOT Analysis might just be the tool and technique that you have been waiting for to truly take the next step in your self-improvement journey. It is practical, easy to carry out, and effective in terms of planning your next moves.

Whether you do it on a consistent basis to ensure that you are moving in the right direction or you only do it when you feel lost, SWOT Analysis will always be right there waiting to help.

Featured photo credit: Kyle Glenn via unsplash.com

Reference

More by this author

Daniel Riley

Daniel is a writer who specialises in personal development and helping others become the best version of themselves.

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Last Updated on January 12, 2021

The Faster You Learn, the Easier You’ll Fall Behind

The Faster You Learn, the Easier You’ll Fall Behind

Garry Kasparov is a chess grandmaster – and also a former world chess champion. Over the last few decades, he’s beaten hundreds of first-class chess players. It’s no surprise then, that many people consider Kasparov to be one of the greatest chess players of all time.

However, in 1997, Kasparov lost a game of chess to a computer. A year earlier, he had played against IBM’s Deep Blue chess computer and defeated it. But the computer was to have its revenge, as just one year later, when the rematch took place, Deep Blue defeated Kasparov.

    Over the next few years, humans and computers traded chess moves and blows. Fast-forward to 2017, and the picture is crystal clear: today’s best chess programs can easily beat the world’s best human chess players.[1]

    As the Kasparov story demonstrates, even the world’s top players – who practiced a lot – can end up losing.

    Now consider your friends, family and colleagues. How many of these people think they’re doing well in what they do? And how many think they are doing better than the average and have stopped looking for ways to improve themselves? The answer is, a lot.

    Why Learning Can Lead to Stagnation

    When people learn well – they pick up knowledge and quickly become skillful. And the smarter the people, the easier they pick up knowledge, and the easier and faster they become very good at something.

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    These types of individuals find learning effortless, and therefore, they pick up knowledge and skills much better than the average person.

    Take a look at the picture below. The tool in their hand represents the skill they have learned, and the cloud is the level they are currently on – in this case ground level.

      When these learners become knowers, they believe that they know what they’ve learned extremely well. This may be the case, but in reality, they’re already better than average. Because of this, they are unlikely to find anyone who can surpass them. It’s at this point that they may think to themselves, “I’m good enough” and “there’s no need for me learn anything more.”

        As I’ll show in the next few paragraphs, people’s egos can stop them from learning and improving themselves.

        For example, let’s take a look at an expert pianist. They can perform proficiently because of their hard work and practice that they’ve put in over the course of many years. To help them, they may have had a tutor who developed their skills and brought out their talent.

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        The consistent tutoring and practicing led them to become an accomplished pianist – one who regularly performs paid concerts in front of decent-sized audiences. However, their success has led them to believe that they don’t need to make any further changes or improvements to their musical skills.

          When experts stop learning – they start to fall behind. This is because others will keep improving, and eventually get ahead of them.

          The world is constantly changing, so sticking to the same way to practice (and failing to improve) will lead to people dropping the ball. A recent study predicted that one in five U.K. employees are under threat of losing their jobs to automation. A person who’s comfortable in their job today, may find themselves replaced by a computer or robot tomorrow. If this prediction comes true, millions of people will soon find themselves out of work.[2] This is a real life example of how people can fall behind when they stop learning and improving themselves.

          Clearly, any experts who stop learning and improving, will be replaced by those who keep learning – whether these are humans or machines.

            When You Think You’ve Learned Enough, You Fall Behind

            The cloud depicted in the visuals isn’t concrete, and it’s prone to fall and disappear any time when you stop paying attention to your own learning and development.

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            Everyone, no matter how good they believe themselves to be at something, should never stop learning. Reaching an ‘acceptable’ performance only means that you’re doing okay. It doesn’t mean that you’re doing it to the best of your ability or potential.

            As I stated earlier (but well worth repeating again)… When you stop learning, you’re falling behind.

              Push Yourself to Reach New Heights

              To keep ahead of your competitors, you need to keep learning and practicing. However, this doesn’t necessarily mean doing things in the same way. You may need to step outside of your comfort zone in order to improve.

                Do what you can’t

                When you think you’re doing something well enough, find what you can’t do – and then do it! Here are four key things to remember about pushing your boundaries:

                1. If you never push yourself beyond your comfort zone, you will never improve.
                2. Getting out of your comfort zone means trying to do something that you couldn’t do before.
                3. Sometimes you’ll run into something that stops you in your tracks. Find ways around these hurdles by focusing on improving your skills and knowledge, and then practicing them until you become proficient.
                4. Don’t be afraid to experiment. You may need to try different ways to make things happen.

                Set yourself specific goals as you practice

                People who achieve great things set themselves definite goals. And I highly recommend that you do the same.

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                One great way to do this is to follow the SMART and Stretch goal methods, which will help you set a big goal, while at the same time giving you baby steps on how to reach it. When SMART and Stretch goals are combined, your goal setting will have genuine purpose and power. You’ll be motivated by the giant goal, while having confidence in the small, incremental steps that will lead you there.

                Find out more about goals setting in my other article: How to Get Bigger Things Done in the Coming Year

                Along the way, you need to get feedback to help you improve

                It goes without saying that to make progress, you’ll need feedback to identify exactly where and how you are falling short. This feedback can be from yourself or from outside observers (e.g., your audience, your mentor, your peers).

                Do you know why computers can beat humans at chess after those times they’ve lost against them? The answer is, that people who program the computers have learned through all the steps humans have performed. They also gathered valuable feedback through their computers losing against some competitors. The programmers pick up the clues and change the way the computers perform in their next matches.

                Learning Should Never Come to an End

                When we’re young we naturally crave learning. We constantly seek out new knowledge, skills and experiences. However, as we mature, there’s a tendency for us to stop learning new things.

                If this happens, you can be sure that stagnation is just around the corner. And as nature shows, nothing (even stagnation) stays the same for long. Things are either building up – or breaking down.

                To avoid the latter, you must maintain a positive outlook that embraces big goals and constant learning. By doing these things, you’ll stay fresh, lively and ahead of the pack of hyenas snapping at your heels!

                Reference

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