Perform Your Personal SWOT Analysis
In these tough economic times, it is imperative that you focus on ways to improve yourself and your career. One way to accomplish this task is to perform your own personal SWOT (not to be confused with SWAT) Analysis.
What is a SWOT Analysis?
SWOT stands for Strengths, Weakness, Opportunities, and Threats.
SWOT analysis is commonly used as a strategic tool to determine which projects/initiatives to conduct. When conducting a SWOT Analysis, you are often presented with a chart that breaks these topics into two areas. The chart typically looks like this:
SWOT Analysis Chart
You will notice that the upper half of the chart is dedicated to internal forces and the lower half is dedicated to external forces. From a corporate standpoint the internal forces are often focused on the product you currently offer as well as any improvements you are developing. The lower quadrant deals with how the market is trending and any competitors you may have in your field.
How to conduct a personal SWOT analysis
When you conduct a personal SWOT analysis, these topics take on different meanings.
- Strengths =Characteristics or traits of you as an individual that differentiate you from the competition in a positive way. These strengths could be your stellar academic career or professional experience and accolades.
- Weaknesses = Characteristics or traits of you as an individual that do not make you as appealing as the competition. These could be lack of experience or a lack of skills.
- Opportunities = Openings in the workforce or opportunities to improve your personal characteristics in an attempt to improve your marketability. These could be a new company moving into your town or a new educational opportunity that has presented itself.
- Threats = Workforce trends that are working against you in your career growth. These could be a downsizing at your office or other events that flood the market with job seekers.
In order to determine your strengths, weaknesses, opportunities, and threats you must be frank with yourself. All too often, people place the blame for their lack of career growth on others. If you wish to succeed in your career you need to take credit for the growth you have made, while also taking the blame for opportunities you failed to seize.
Perform a SWOT analysis and then take the results to improve your marketability.
- If you lack experience, volunteer to serve as a project manager for a company initiative or for a charity.
- If you lack skills, seek those skills through work or education.
- If you possess solid skills or experience, make sure your resume and job search highlights these facts.
- If you have an opportunity and it makes sense to your career path, jump on that opportunity.
- If there are threats to your current job, make sure that you investigate and pursue alternatives so that you have someplace to turn should things go sour.
You may not always like the results of your SWOT analysis, but as GI Joe used to say “Knowing is half the battle”. Now go out there and fight the good fight.
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