Many companies include the SWOT chart as part of a competitive intelligence presentation. They spend a lot of time preparing the strengths and weaknesses, opportunities and threats, and creating a beautiful image. And… that’s it. SWOT charts were designed to be springboards for creating strategies. What products or services will the company leverage? How will they differentiate their offering? What story will they tell? What are their weaknesses? Are they aware of them? How will they mitigate those weaknesses? How are they perceived by the outside market? What kinds of opportunities and threats exist outside of the company’s control? Strengths identified in other companies should give you incentive to bolster your own solutions. If your solution is not as capable, or desirable, should you be bidding? Opportunities allow you to assess how your own company will be viewed, and where you can maximize play in a potential marketplace. Weaknesses and threats can be turned into ghosting opportunities. How can you capitalize on potential (or perceived) risk? How can you differentiate your own offering to highlight an area of weakness in another solution? SWOTs can be extremely valuable tools, if they’re used correctly. Contact Richter & Company today to find out more about positioning and strategies that help you win.
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