PERSONAL DAFO ANALYSIS

Accelerate your business with these expert tips on "Personal SWOT Analysis". Analyse and discover this TIP!

Am I a good entrepreneur?

The personal SWOT analysis is a very useful tool for an entrepreneur, as it allows him/her to identify his/her strengths and weaknesses, as well as the opportunities and threats of the market in which he/she operates.

The following are the steps to follow in order to carry out a personal SWOT analysis

• Identify Strengths (F): are the skills, knowledge, experience and resources available to the entrepreneur. Some questions that can be asked to identify strengths are:
  • What skills do I have?
  • What knowledge and experience do I have?
  • What resources are available to me?
• Identify Weaknesses (D): are the areas of improvement, limitations, shortcomings and obstacles that the entrepreneur has to overcome in order to succeed in his business. Some questions that can be asked to identify weaknesses are:
  • What skills do I need to develop?
  • What knowledge and experience do I lack?
  • What resources do I need to achieve my objectives?
• Identify Opportunities (O): are the trends, demands, market niches and customer needs that the entrepreneur can take advantage of to develop his business. Some questions that can be asked to identify opportunities are:
  • What trends are emerging in my sector?
  • What demands are not being met?
  • What niche markets can I explore?
• Identify Threats (A): are the risks, competitors, obstacles and constraints that can negatively affect the development of the entrepreneur's business. Some questions that can be asked to identify threats are:
  • What are the risks associated with my business?
  • What competitors do I have?
  • What obstacles do I have to overcome to succeed?

Once the Strengths, Weaknesses, Opportunities and Threats have been identified, the entrepreneur can use this information to develop strategies to capitalise on strengths, overcome weaknesses, take advantage of opportunities and minimise threats. In summary, the personal SWOT analysis is a very useful tool for an entrepreneur, as it will allows you to know your strengths and weaknesses, as well as the opportunities and threats of the market in which you operate, enabling you to develop strategies to succeed in your business.

SWOT analysis

This is a well-known technique, especially in the organisational sphere, and allows for the identification in 4 dimensions; 2 internal and 2 external various characteristics of the entrepreneur:

F.O.D.A

• (F) - Strengths.
• (O) - Opportunities.
• (D) - Weaknesses.
• (A) - Threats.

Internal SWOT Analysis

INTERNAL DIMENSIONS OF THE ENTREPRENEUR + WEAKNESSES - NEGATIVES:

Weaknesses are internal shortcomings that you have and that make you inferior to your competitors. Refers to all those aspectsnegative personality traits and habits, and even deficiencies. that limit the growth of the entrepreneur (+). It is very important to include emotional limitations, for example, the inability to recognise, control and express emotions.

• What were your least favourite subjects at school/university?
• What do you find most boring about your job?
• Do I have enough experience?
• What do you always ask for help with?
• What is it that you can't stand?
• What are your shortcomings that prevent you from improving?
• Where could you improve?
• What things do your friends tell you that they don't like about you?
• What are the characteristics that keep me from my goals?
• What am I doing today to be where I want to be tomorrow?
• Where can I improve?
• Do I have sufficient experience to enter a particular area?
• Do I have the necessary qualities to perform in the area I want?
• Do I often procrastinate (procrastinate) every single action I set out to do that leads to the achievement of my goals?

This is the most important and key segment you need to focus on and work on, so please note that a honest analysis can provide you with a clear list of areas that need a development plan to remedy the problems identified. Tools such as action plans and training are some of the ways to improve weaknesses. From a competitive point of viewIf you have a weakness, you should try to mitigate it as soon as possible, because they can provide an unwanted opportunity for your competitors.

Internal SWOT Analysis

STRENGTHS + POSITIVES:

Strengths are your great weapons, what you are unique in, those personal virtues in which you excel and that make you take a project to success where you will stand out more than your competitors. Refers to all those values, talents, skills, abilities, achievements, personality traits, personal attributes, habits and positive activities that facilitate growth and enhance the achievement of the entrepreneur's goals.

INCLUDES THE EMOTIONAL TOOLS THE PERSON HAS TO COPE WITH FAILURE:

• What did you like to do when you were a child?
• What is it that everyone asks for your help?
• What are your hobbies?
• What is your favourite thing to do at work?
• What do you do better than anyone else?
• Can you describe your dream job?
• What are your skills?
• Professional experience.
• Studies.
• Contacts.

OR OTHER QUESTIONS SUCH AS:

• What is it that I am passionate about, that I love to do and that I am good at (I recommend reading the book: "The Element" by Ken Robinson).
• When, with whom?
• What do I do better than others?
• What is my experience in this area?
• What added value can I deliver from my level of expertise?
• What aspects do I prefer and make me feel at ease?
• Do I consider myself an enthusiastic, optimistic, positive, grateful person?

This section contains the strengths and external strengths, such as relationships with others, so that they can Feedback from them can also provide clarification on strengths captured in this segment of the analysis.

External SWOT Analysis

DIMENSIONS EXTERNAL TO THE ENTREPRENEUR - THREATS - NEGATIVES:

Now, on the other hand, we are going to analyse the environment around you and in which you live. Threats are situations external what can make it difficult for you to achieve your goals. Threats refer to the aspects of the environment that impede the personal growth and emotional development of the entrepreneur.

For example: the people around them and the different problem situations in which they may be immersed, their social, even political, religious status, which in some way limit them in the achievement of their objectives or condition them.

• What do my competitors offer that I don't?
• What is stopping you from achieving your goals?
• What are the characteristics of the environment that prevent you from adapting to it?
• What external aspects prevent or hinder me from reaching my personal goal?
• Is there a lot of competition in the area I want to enter?
• How can I differentiate myself from other professionals who have already been working on their Personal Brand?
• Is there much demand for employment?
• What am I doing about it?

To ensure success, you may have to deal with future and current threats. For people like you, like me, create a SWOT analysis for personal development purposes An example of a threat could be: employment security problems.

External SWOT Analysis

OPPORTUNITIES + POSITIVES:

Opportunities are elements of your external environment that you can to get the most out of your project. Opportunities: refers to the options or alternatives that the environment offers the entrepreneur for their emotional growth and development.

• What does the environment offer you in order to achieve your goals?
• Who do you know who can help you?
• What aspects help and drive me to achieve my goals?
• Can I offer unique services in the sector I want to enter?
• What resources do I currently have to achieve my goal?
• Am I taking advantage of my online and offline acquaintances?
• Am I proactive about using all available resources, am I able to identify them easily?
• Do I recognise what I have and what I lack? I call it: Personal Inventory.
• Can I have a positive influence by showing my skills and knowledge in a different and creative way?

Always there are going to be areas for improvement and this is closely related to the "areas of opportunity". - As the phrase itself says, it is about working on them and improving them to create more opportunities for ourselves. This makes this segment of the analysis important. You will need tos identify internal and external opportunities, and thus, to obtain a complete list in which you can support the facilitation of groups or individuals to identify these opportunities.

You can add the opportunities and future for this segment of the quadrant.

HOW IS A SWOT ANALYSIS CARRIED OUT?

After having examined each of the points we have mentioned, an analysis SWOT + your "Action Plan would look something like this:

SWOT ANALYSIS - ACTION PLAN:

Determination of the strategy to be used based on a SWOT analysis. Al identify and place in the matrix all the latent opportunities that exist in the market where your business moves or that are happening in your professional area, you will be able to cross those weaknesses detected to minimise them. (if they can't be removed altogether) and support you in an opportunity.

It is important to note that it is in the Quadrant II where you should focus and direct all efforts to achieve the objectives. which should be associated with your ultimate goal. Your competitors can carry out a similar analysis and try to exploit any weaknesses they may have.

CAN NEUTRALISE THREATS IN THREE MAIN WAYS:

1. You can avoiding participation of your competence in the areas where you are weak.
2. You can acquiring resources or partners that resolve your weakness.
3. Your strategic direction has to include such decisions for your weaknesses, or you run the risk of wasting resources on initiatives that will not succeed.

WHAT CONCLUSIONS SHOULD I DRAW FROM MY SWOT ANALYSIS?

Once you have everything written down you should take into account something very important to extract all the information in a constructive way, because we are not perfect, nor should we pretend to be, but we can we must look for the best version of ourselves in order to succeed. For this reason, take your weaknesses and see what opportunities the environment has that will help you deal with and/or balance your weakness.

"He who is not brave enough to take risks is not going to achieve anything in life. Muhammad Ali 

For example: a person who is shy and would love to go into training because he knows he is very good at explaining but does not dare to do it in front of many people.

Well, it turns out that in the cultural centre under his house there is a theatre group that can help him to overcome his weakness. key to the personal SWOT analysis and what you should focus on from now on. On the other hand, the same applies to it is your strengths that will soften the effect of threats from the environment. You must one thing to bear in mind in the world we live in: the biggest threats are usually the competition, so it is important that you excel at what you and only you are good at and do not try to imitate anyone else.

Above all don't believe that your fears are threats, break your own barriers and do it!!! From now on, you must seize every opportunity that life gives you, since, One phone call can change your life. But if you let it go and don't work at it, luck is not going to knock on your door.