How to Analyze your Business’ Weaknesses to Increase Your Revenue
We all know the SWOT Analysis, right?
The essence of the SWOT analysis is to discover what you do well; how you could improve; whether you are making the most of the opportunities around you; and if there are any changes in your market—such as technological developments, mergers of businesses, or unreliability of suppliers—that may require corresponding changes in your business. While every element of SWOT is important, it is important to spend more time on the W – Weakness. Because, sometimes you don’t need a soothsayer to grow your business, it might lie in working on the weaknesses.
If you simply work on all of your identified business’ weaknesses, you will be more steps closer to increasing your revenue this year and you may not need any marketing or strategy, simply fix that weakness. . What are your business weaknesses?