Brian Tracy is one of the world’s top professional speakers and has delivered more than 5,000 talks and seminars.
He is a self made millionaire and is the chairman and CEO of Brian Tracy International, a company specializing in the training and development of individual and organization.
In his book ” 21 Success Secrets of Self-Made Millionaire” he teaches you how to achieve financial independence faster and easier than you ever thought possible. You will learn the secrets of millionaires and use them to work for you too.
Below is the list of the 21 secrets. Hope you are inspired and motivated to make them an everyday practice.
What is a SWOT analysis? A SWOT analysis is a study or method used to find out the strengths, weaknesses, opportunities and threats of an individual, project, institution or business. It involves figuring out the internal and external factors that will benefit you or hinder your attainment of a certain goal or object.
History of SWOT Analysis
The history of SWOT analysis is credited to Alfred Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from many top companies. This was done in order to find out why corporate planning failed. The results of the research identified certain key areas and the tool and the tool used to explore these areas was called “SOFT analysis”. Alfred Humphrey and the team assigned the following definitions to the tool; What was good in the present was Satisfactory, what was good in the future was an Opportunity, what was bad in the present was a Fault and what was bad in the future was a Threat (S.O.F.T).
Applications of a SWOT Analysis
A SWOT analysis is a great tool to use to gain an in depth understanding of a business, organization or an individual. There are numerous ways and and methods as to how the SWOT analysis can be used, below are some of them.
How To Conduct A SWOT Analysis
In order to conduct an efficient SWOT analysis you have to gather information and be realistic with the answers you are get from the information.
This can be done through surveys, research or feedback. You can ask your friends, family, employees and others you can trust.
You will then make a list of all your strengths and weaknesses, then find out what opportunities and threats exist.
After identifying your SWOTS’s you will then select the most important ones and formulate plan as to how to put them to use to benefit you or the intended target.
Strengths are the positive attributes that you possess, they are internal and are withing your control. If you are a business or organization these will include your assets, employees, targets, etc
Weaknesses are the things that you lack or are holding you back, they are also internal and are the areas where you need improvement.
List Of Weaknesses
What are you bad at?
What skills do you lack?
What beliefs hold you back?
Which contacts are holding you down?
Where do you keep failing?
Opportunities are external factors that can enable you to progress and prosper when grasped and followed through. They can appear and come through various ways: expected and unexpected. So always be prepared and on the lookout for them
List Of Opportunities
Can you spot trends?
Is there a need for your skills?
What can you do better than your competitors?
A change in legislation.
Is there a chance to improve your knowledge?
Threats are external factors that may become obstacles to your success or chosen goal. They are out of your control and can put you or your business at risk. The best way to tackle threats is to have a back up plan just in case.
List Of Threats
What obstacles do you face?
Changes in legislation
Change in trends
Fears holding you back
Example Of a Swot Analysis
Below is an image illustrating how you should conduct and expect a SWOT analysis to to look like.
After conducting your Swot Analysis you will have a list from your research and self-study. Make sure you are honest when answering the questions as this is for your sole benefit.
Identify and prioritize the mostimportant of the results and start making plans around each result on how to achieve them or tackle them.
Look at how you can develop your strengths or use them to grasp an opportunity. You can also brainstorm on how to use your strengths to tackle your weaknesses or threats.
Examine your weaknesses and evaluate how they might be an obstacle when presented with an opportunity or threat.
Example of a plan
How can you use the strengths identified to take advantage of the opportunities available?
Can you use your strengths to tackle any threats if necessary?
What weaknesses can be an obstacle when dealing with opportunities?
How can you minimize the weaknesses in time of threats?
A SWOT Analysis is a great tool to use and conduct in order to identify known and hidden strengths, weaknesses, opportunities and threats.
It may come easy for some and impossible for others and if you are definitely afraid of doing it: DO IT.
You will discover skills, gifts and powers you didn’t know you possessed. It will boost your confidence and make you prepared to tackle any problem or issue that life throws at you.
Welcome One and All. I am GRATEFUL for your Time and Energy. Its an Honor on our behalf for YOU to visit this site
The Kingdom Of Heaven Is Within You
The man who is certain to advance is the one who is too big for his place, and who has a clear concept of what he wants to be; who knows that he can become what he wants to be and who is determined to BE what he wants to be.
The Science Of Getting Rich: Chapter 15
1. Endeavor to be the best you.
2. Live life to your fullest potential.
3. Develop Positive feelings and thoughts
4. Stretch your comfort zone
5. Think Big
6. Winners don’t quit and quitters don’t win
7. Know and Accept yourself
8. Be Assertive
9. Ask and you shall receive
10. Success is when opportunity meets preparation
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