How to Write a SWOT Analysis for your Business Plan; Podcast

Podcast

An overview of how we prepare your SWOT Analysis

Small Business Plans by Assent
Small Business Plans by Assent
How to Write a SWOT Analysis in Your Business Plan
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By listening to this Podcast, you will learn what a SWOT Analysis is, the process involved in researching the relevant material, and how to identify the strengths, weaknesses, opportunities, and threats of and to your Business.  

If you decide to get help, the Podcast will help you understand which parts you may need help with and which you can do yourself – this should help you save time and money.   

One of the most common questions people ask is: what’s the process for writing a SWOT Analysis? 

The good news is—there’s a clear, step-by-step approach. A well-prepared SWOT helps you see your business from every angle, identify what’s working, and recognise where to focus your efforts next. 

Writing a strong SWOT requires four main skill sets: 

  1. Strategic and analytical thinking 
  2. Market research skills 
  3. Industry awareness and insight 
  4. Clear writing and presentation skills 

You don’t have to be an expert in all of these—but being mindful of them will help you create a well-rounded, meaningful analysis. 

 

Where to Begin – The Discovery Stage for a Business Plan SWOT 

Start by gathering background information about your business or project. This helps you see the bigger picture before you start listing Strengths, Weaknesses, Opportunities, and Threats. 

Here are two simple ways to begin: 

  • Complete a short self-assessment or checklist of key business areas (such as your team, products, operations, versus your competitors). 
  • Set aside 30–45 minutes to reflect or talk with a colleague about what’s working well and what challenges you’re noticing. 

Some people already have most of this information written down; others use this step to clarify their thinking. Either way, it’s an essential foundation for your SWOT. 

 

Research and Gather Evidence 

Next, collect and review information that will support your analysis. Reliable data ensures your SWOT is accurate and useful rather than just opinion based. 

You might look into: 

  • Market trends – what’s happening in your industry or local area 
  • Competitor performance – who’s doing well and why and if they have a strength or weakness that you do not 
  • Customer feedback – what people say they value or want improved 
  • Financial or operational data – where your strengths and weaknesses show up in numbers 

From this, you’ll start to see patterns—these become the building blocks of your SWOT. 

 

Writing Your Business Plan SWOT 

Now it’s time to organise what you’ve discovered into four clear sections: 

  • Strengths – What do you do well? What gives you an edge?
  • Weaknesses – Where could you improve? What limits your performance?
  • Opportunities – What external trends, gaps, or changes could you take advantage of? 
  • Threats – What external risks or pressures could affect your success? 

Aim for concise bullet points or short statements rather than long paragraphs. Be honest and realistic—an effective SWOT highlights both positives and challenges. 

 

Review and Refine 

A great SWOT usually takes two drafts. Once you’ve completed your first version, step back and check that: 

  • Your points are specific, not vague (“Strong brand recognition” instead of “Marketing”). 
  • You’ve balanced internal and external factors. 
  • Each section links logically to the others—for example, some weaknesses may connect directly to threats or opportunities. 

Adding a few simple visuals—like a 2×2 grid or table—can also make your SWOT easier to read and share with others. 

 

Seek Feedback or Expert Review 

Once you’ve drafted your SWOT, consider getting another perspective. Someone familiar with your industry or business can help you spot blind spots or assumptions. 

If you’re uncertain about your market insights, talk to a market researcher. If you’d like professional input on structure or clarity, Small Business Plans can review it for you. 

 

Next Steps 

Completing your SWOT is a powerful first step in strategic planning. Use it to guide your next business goals, shape your marketing strategy, or prepare for investment or accreditation. 

If you’d like more guidance, the Podcast discusses each step in more detail and includes examples to help you strengthen your analysis. 

We hope you enjoy working through the process and finish with a SWOT that truly reflects your business and its potential. 

Strategic planning doesn’t have to feel overwhelming. The Podcast will outline your options if you’d like to chat before purchasing— or simply use the Contact Us form on our homepage. 

If you’d like us to review your existing SWOT or help you refine a particular section that you are stuck on, we have a service to review your Business Plan or supporting material.  

We hope you enjoy the Podcast. 

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