What are the top tools online to help me make a SWOT analysis?
I have business plan for a start up and want to start working on a SWOT analysis with tools available online. My start-up will provide an online platform to encourage being sustainable. What are your suggestions for SWOT analysis tools?
Understanding and appreciating what Strengths, Weaknesses, Opportunities & Threats will influence your business plans is a management fundamental requiring just a pen and paper! Any reliance on online tools for such a basic process seems an unnecessary distraction from the purpose of your SWOT analysis. No need to overcomplicate it!
You could check out the MindTools website - go to Toolkit - Strategy and there you will find besides other very useful models, the SWOT
Tools are a nice help when doing a business plan but they is what they are 'Tools'. The most important thing about SWOT is the thinking behind what you put in there and the interlinking between the S - O - W - T. Also important is to limit your analysis to the critical few relevant elements in each of the quadrants. SWOT is a framework to enable a better understanding of what the market and economic environment looks like and where / why you believe you can / will make a difference - this is the basis for setting your strategic direction (this is the 'what' of your business planning).
Mind maps are an excellent tool for creating a SWOT analysis. You might want to try an online mind mapping service like MindMeister.com, wisemapping.com or a host of other mind mapping services. Some of these services have a SWOT analysis template pre-built in their library.
Do you need a drawing tool only or an intelligent tool to do a correlation analysis as Hans has previously commented?
For drawing you have Vision - there is some ready marketing diagrams which can be used automatically and ready to populate. Another option would be Concept Draw Pro.
I personally use Excel only. the easiest to navigate and I do the analysis myself. But the mentioned applications could be helpful in your case.
All the best!
I also don't know of any specific tools. You could create an interactive PDF with questions that they should be asking themselves to determine their SWOT? As well as create different questions according their industry? Just Ideas..
2-SWOT Analysis General
A SWOT analysis is a self analysis of the Start-ups owner(s). There is no tool to create a SWOT analysis. Just answer these questions in the SWOT analysis:
1- What are the strengths of the business owner(s) as business people?
2- What are the strengths of the business owner(s) in sales?
3- What are the weaknesses of the business owner(s) as business people?
4- What are the weaknesses of the business owner(s) in sales?
5- What opportunities do the owners have in the current market for their products and or services?
6- What are the current threats in the market that the owners must over come for the business to be successful?
7- How can the owners use their strengths to either minimize, mitigate or eliminate the threats?
The business owner(s) must be brutally honest in the answers to these questions. In some cases the prospective business owners will decide to not start the business as this analysis exposes huge areas of weakness in their sales proposition and or their ability to be successful in any business.
The funnelmaker team can help you develop a swot analysis
Hi and Good day
Sustainability and sustainable business are very interesting aspects which are on focus today across different regions. Since its going to be an online platform, SWOT will definitely look good and there are many options given below to create a template and move forward. Since I have been in the B2B space for long,
Why don't you try to create a simple say five point questionnaire, pretty interactive on the landing page and give their sustainability level or score or ranking/
This shows significant level of understanding and knowledge and there could be interest here.
Just a thought and please ignore if irrelevant
Great question Amitsinh.
The SWOT analysis is great for the 30,000 foot view of a company. I typically take my clients through it on pad and paper or a simple word doc. Here is the formula I use below:
Strengths: What would you say are the strengths of you and your company?
Weaknesses: What would you say are the weaknesses of you and your company?
Opportunities: I then turn the weaknesses mentioned into their opposites or opportunities.
Threats: What are any threats you can foresee that may or may not take place? (Competition, regulations in your industry, etc.)
I then dive deep into the company's 5 economic drivers and 4 quadrants to increase profits.
For more information on how to grow your business and for a complimentary SWOT analysis session please reach out to me.
David Brownlee & Associates
DavidBrownlee dot com
I don't know if you need any tools. How did you develop the business plan without doing a SWOT analysis first? Likewise, have you done a break-even analysis? Let's review: Strengths - what are your specific strengths? Weaknesses - what are your weaknesses? Opportunities - what obvious opportunities do you have and how are you going to exploit them? Threats - what are they and how are you going to defend against them? However, the real question is - what is faster, better, or cheaper about your online platform than what currently exists? That's what the business plan should explain.
Not sure why you need tools. Just use MS Word or Powerpoint or if you want to go fancy create an Excel Spreadsheet.
It's basically Strengths, Weaknesses, Opportunities and Threats, just listings to interpret.
But if you want to do correlation analysis between a SWOT for several people or departments or businesses, then maybe you need a tool.
For that advice I'm the wrong person to ask. I just use Microsoft Office.