Article written by Rebecca Di Noia, Business Advisor, Western Sydney Business Centre.
“Where there is no vision, the people perish” (King James Version, Prov. 29:18)
This bible verse may have been written more than 3000 years ago, but the principle it conveys still applies in our personal and business lives today.
Imagine you are lost, and you have phoned a friend to ask for directions. Your friend wants to know where you are, but you have no idea – you are open to suggestions on how to get out of there – should you drive? Walk? Take a train? Swim? Or fly a helicopter? So many possibilities!
At the beginning of each year, we set “new year resolutions” and “goals”, yet while these are all great ways to encourage and motivate ourselves into thinking bigger, we also need to know where we are now and to be realistic.
One of the tools that I have used to achieve this is “SWOT” – (Strengths, Weaknesses, Opportunities and Threats) and it usually goes like this:
Strengths – of yourself and your business.
Weaknesses – of yourself and your business.
Opportunities – if time and money are not an issue, what are some “out-of-the-box” ideas for your business?
Threats – external influences that may affect your business, but you have no control over.
Most people will stop here, however, I would like to go one step further:
Strengths – have I maximised these strengths? If not, what steps can I take to maximise those strengths?
Weaknesses – How can I improve my weaknesses?
Opportunities – What steps can I take now so I can achieve my dreams into the future?
Threats – What is my plan B if threats occur? Until you know where you are, no one can give you directions that are relevant and applicable in helping you reach your destination. The same applies to setting goals – some goals are just dreams, but many goals can be achieved if we actively make steps towards to fulfilling them.