A SWOT Analysis is a common strategic practice in the business world that looks at the Strengths, Weaknesses, Opportunities, and Threats that a business has or might face.
Let me tell you a secret, those reasons look good in business articles and in management magazines, a lot because they sound good and they are quite fancy management terms analysts like to use. These Scangator and senior managers love those terms so much they keep using it in their jargon, so much so,until the small business owner feels inept,under educated and wants to run and hide on it’s first crippling fear that his business is not good, and that he is a dreamer and has no business setting a business of his own.
Your business plan must be flexible, if things doesn’t workout according to the plan than what will be your next step? Most of the people got stuck in the situation where they don’t have enough flexibility in there business plan. So your business plan must be flexible enough so that you can make changes according to the twist and turn in the market.
Plan for the future: The last strategy that I will emphasis here is the need to plan for the future. This entails knowing exactly where you are going and knowing exactly how you are going to get there. From your various systems draw up a plan that is aimed at taking you to where you want to be tomorrow. Take into cognizance the up and downs of the business environment. You need to always have a plan for when things go wrong and set your business up so that it can sail no matter the situation.
For example changes in government often have an impact on businesses dealing with health, education and employment as existing programs are often changed or discontinued after an election, or new programs are introduced. International economic crises often have a big impact on our own market as does the increasing threat of terrorism or conflict situations.
Most people have a portfolio of stock and they have no idea they could be generating income from their stocks. In my position trades I have a portfolio of options and I generate income off of those options. This is much less risky and has greater profit potential than owning stock long term.
Use everything they have, to try and put out that fire, and then go back to the starting point, back into this waiting position until the next fire. From one fire to the other, their energies dwindle and their level of energy and vitality drops. They carry on with their day,hoping that no new fires will start. But they can’t really know for sure.