SWOT sounds like such a fancy word. And it is. At least if you’re trying to start a new business or product. The word stands for Strengths, Weaknesses, Opportunities and Threats, and is a famous method for planning and analyzing these attributes. It’s really helpful to know where’s your place in the market and what positive things you have on your side and what you should be careful with.
In the case for my business (a design studio) I’ve done this analysis to know mainly what I need to improve and what I can offer to my clients. I did this SWOT (sounds like and Star Wars game) like if I was starting my business in my country. Please keep in mind that I don’t know how to make this kind of analysis and this one is probably not correct entirely.
According to this, I have a considerable amount of strengths compared to the weaknesses, but my opportunities are fewer than my threats so I should be careful with the latter and try to look for new opportunities that make my business grow.