5 Usual SWOT Analysis Mistakes and How to Evade Them
A SWOT analysis is a helpful strategic planning tool when analyzing the achievability of a project. It is a very easy-to-use tool and powerful enough to identify all the aspects of a business, whether internal or external. However, it is important to use this tool with care and planning because it can also misguide you. Below, we have mentioned five common SWOT analysis mistakes people make. How do you avoid them? Keep reading to find out.
Adding Long Paragraphs or Lists | SWOT Analysis Mistakes
As we said, SWOT is a simple and helpful tool for analyzing business ventures. Adding long paragraphs and lists is a common mistake that people make. It usually happens when there is no ambition or specific goal. If you are doing a SWOT analysis with too many people, then it can create trouble. It is vital to know what is important and what’s not.
How to Fix?
First, clarify your goal and why you are conducting the SWOT analysis. What is your purpose in doing SWOT analysis? What do you want to achieve? Mention just 4-5 points in each section in order to keep SWOT diagram clear and visible.
Over-estimating Strengths | SWOT Analysis Mistakes
When conducting a SWOT analysis for your business or company, never over-estimate your strengths. Many people think that having the best employers or working infrastructure is the biggest mistake. In a SWOT, strengths are the first section that you have to evaluate. Find out the real strengths that you think make you superior to others. Then follow the rule and just mention 4-5 points in the section. Overestimating your strengths can damage your process of creating SWOT analysis.
How to Fix?
Carefully identify your strengths and get a fair opinion from others. For example, if you are selling a product, leave it to the customers and see whether they like it.
Generalizing Aspects | SWOT Analysis Mistakes
Generalizing aspects is one of the most dangerous SWOT analysis mistakes. Sometimes, it is hard for companies to develop a useful strategy to reduce a particular weakness. In the end, they have to delay the process, which could be damaging to the company’s growth. By adding general aspects in your SWOT diagram, everyone can see it clearly and can give better suggestions.
How to Fix?
Try not to generalize aspects and add specific reasons as an aspect. Try to add quantitative values whenever possible.
Disregarding Weaknesses | SWOT Analysis Mistakes
No one wants to identify and admit their weaknesses. It is even harder after knowing your strengths. Some companies completely overlook their weaknesses. It can be disastrous for you and your project.
How to Fix?
Be honest and realistic when identifying your weaknesses. Encourage your team members to help you identify your weaknesses. If everyone participates, then you can easily find out the accurate and valid weaknesses of your project or company. In this way, you can choose the most important weaknesses.
Ignoring the Value of PES | SWOT Analysis Mistakes
When it comes to opportunities and threats, they are highly challenging to discover. Both factors are external and directly linked with PEST because it is another strategic planning tool that highlights external aspects of a business. So, figuring out external factors can be difficult. In this matter, do not ignore the value of PEST analysis.
How to Fix?
In order to eliminate this mistake, you need to do a complete and proper PEST analysis. Through this analysis, you can identify your opportunities and threats.
Final Thoughts | SWOT Analysis Mistakes
We have covered most of the SWOT analysis mistakes in this article. There are so many other mistakes, but the above ones are very common and you should avoid them. If you are doing the above-mentioned mistakes, then you are conducting a faulty SWOT analysis.
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