What is a SWOT?

A SWOT helps you plan a business. It has four parts: Strengths, Weaknesses, Opportunities, and Threats.

Strengths – things you do well.

Example: A barber is fast and friendly. A flower shop owner makes beautiful flowers.

Weaknesses – things that are hard for you.

Example: A barber has few customers. A flower shop owner does not know good prices.

Opportunities – chances to grow.

Example: A barber shop on a busy street gets more people. A flower shop near a wedding hall gets big orders.

Threats – problems that can stop you.

Example: A barber shop has too many other shops nearby. A flower shop has high prices for flowers.

A SWOT shows what you are good at and what you need help with. You can ask for help or learn new skills. This makes your plan better.