CHECKLIST: 48 Questions to Ask in Your SWOT Analysis Every business owner should conduct a regular SWOT 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 (INTERNAL, POSITIVE ATTRIBUTES OF YOUR BUSINESS) MARKETING: ASSETS: What is my company’s competitive advantage? Do we have proprietary technology, OO OOintellectual property or other valuable What is our unique selling proposition? OO proprietary information? Do we have exclusive relationships with Do we have equipment or machinery that our OOsuppliers or distributors? OOcompetitors don’t? How extensive is our distribution network? OO Does our location or building give us a What are the strengths of our marketing and OOcompetitive advantage? OOsales team? OODo we have a well-known brand? FINANCIAL RESOURCES: OOHow well capitalized is the business? HUMAN RESOURCES: Can we easily access additional capital if Do our employees have skills or expertise OOneeded? OOthat our competitors’ employees lack? Do the business’s profit margins and other Do our employees have professional OOfinancial indicators compare favorably to OOaccreditations or certifications that give us industry benchmarks? an advantage? WEAKNESSES (INTERNAL, NEGATIVE ATTRIBUTES OF YOUR BUSINESS) MARKETING: HUMAN RESOURCES: What complaints do we frequently hear Is the business adequately staffed? OOfrom customers? OO Do employees lack skills or expertise needed What objections do we frequently hear OOto compete? OOfrom prospects? OOIs the business’s distribution limited? FINANCIAL RESOURCES: OODoes the business suffer from cash flow ASSETS: problems? Does the business’s location or physical Are the business’s profit margins and other OOplant have any weaknesses? OOfinancial indicators poor compared to those of competitors? OOAre the business’s technology, equipment and machinery outdated? OODoes the business have excessive debt? Would the business have difficulty accessing OOadditional capital? OPPORTUNITIES (EXTERNAL, POSITIVE FACTORS THAT COULD HELP THE BUSINESS) COMPETITIVE ENVIRONMENT: ECONOMIC ENVIRONMENT: Do competitors have any weaknesses the How might current and projected OObusiness could benefit from? OOeconomic trends present opportunities for the business? (i.e., housing prices, MARKET ENVIRONMENT: employment rates, consumer confidence) OOIs the target market changing in ways that What changes are taking place in the could benefit the business? OOindustry that could create opportunity? OOIs there a potential niche market the Are there potential new sources of business is currently ignoring? OOfinancing that could help the business? OOIs there something clients and customers Could projected changes in interest rates, are asking for that the business doesn’t OOtax laws or banking regulations benefit the provide, but could add? business? Are there upcoming local, regional OOor national events that could present POLITICAL ENVIRONMENT: opportunities for the business? How might proposed changes to local, OOstate and national government positively What opportunities for geographic affect the business? OOexpansion exist? TECHNOLOGICAL ENVIRONMENT: How could predicted technological OOadvances create opportunity for the business?

THREATS (EXTERNAL, NEGATIVE FACTORS THAT COULD HURT THE BUSINESS) COMPETITIVE ENVIRONMENT: OOWhat predicted industry trends could hurt OOAre our competitors planning expansion, the business? new product or service launches, or other Could changes to external financial changes that could hurt our business? OOfactors, such as revised lending Are there businesses that aren’t standards, increased cost of capital or OOcurrently direct competitors, but could higher interest rates, hurt the business? be in the future? Are there projected increases to OOthe cost of doing business (i.e., rent, MARKET ENVIRONMENT: wages, inventory, utilities) that could OOIs our target market shrinking? hurt the business? Could predicted social changes negatively POLITICAL ENVIRONMENT: OOimpact demand for our product? OOCould local, state and national OODoes the business rely too heavily on one governmental changes, such as regulatory big customer? restrictions or new trade agreements, negatively affect the business? ECONOMIC ENVIRONMENT: OOHow might current and projected economic TECHNOLOGICAL ENVIRONMENT: trends (i.e., housing prices, employment How might predicted technological rates, consumer confidence) negatively OOadvances negatively affect the business? impact the business?