Have you ever heard of SWOT? It’s a business assessment strategy that looks at 4 components (Strengths, Weaknesses, Opportunities, and Threats) to analyze and improve a business. While all 4 of these components are worth your time, we’re going to talk about weaknesses today, which is undoubtedly the most difficult one to tackle. Here’s how you do it.
IdentifyDo you have a difficult time admitting failure? In order to tackle your weaknesses and improve your brand, you have to first know what your weaknesses are. Regardless of how old your company is or how experienced you are, there is always room for improvement. Don’t forget how valuable an outside perspective could be, as well! Having someone else critique your products and services can be nerve-wracking, but you have to stay focused on the ultimate goal: to make your brand better!
PurgeWe’re not suggesting you Marie-Kondo the mess out of your cubicle. We’re talking about strategically tackling your brand’s weaknesses by letting go of whatever is holding you back. Do you set unrealistic expectations? Adjust them. Do you miss out on opportunities because you aren’t willing to break away from “how you’ve always done it”? Learn how to adapt and explore options that are out of your comfort zone. Is your team disjointed? Work through pent up grudges and misunderstandings, so that you can move forward in unity. Purging is necessary for growth.
SimplifyOne of the most common weaknesses we see is brands trying to do or be too much. Passion is great, but if it hampers your ability to perform, it can become a weakness. Simplify your goals, streamline your vision, and make a plan that you can stick with. The more focused your efforts are, the more helpful your brand will become.