March 3, 2011

Analyze Your Business to Bring More Profitability in 2011

Whether you are a freelance writer or any other type of business owner if you don't analyze your industry you will be losing out on revenue opportunities.

It is important to honestly appraise your business environment to make the right decisions for future growth. Often an entrepreneur waits too long to make changes in his business model, because he did not periodically perform a SWOT analysis.

A SWOT analysis, is an honest look at the strengths of your business, the weaknesses of your business, the opportunities that are present in the marketplace for you to take advantage of, and the threats that can potentially hurt you.

Having blinders on to the weaknesses of your own business or the threats from competitors and not working to overcome them isn't going to help you grow.

Neither will living on the successes of the past or an overly optimistic sense of opportunities provide you with a 'clear road to additional growth'.

All for areas of a SWOT analysis need to be reviewed for true business growth and financial success.

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