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SWOT Analysis is a time-tested analytical tool that encourages you to focus your planning efforts around analyzing the Strengths, Weaknesses, Opportunities and Threats facing your enterprise.
Get help with SWOT Analysis or share your expertise and experiences!GO TO:•What Is Positioning?
SWOT Analysis: The BasicsAn often overlooked aspect of SWOT Analysis is that it is always based around achieving a definitive objective. SWOT Analysis: Key QuestionsWhat are the fundamental points of differentiation that define each category for your specific situation? Generally speaking, your strengths allow you to capitalize on opportunities in order to fulfill objectives.
The "You" Sales and Marketing approach to SWOT Analysis seeks to boil each set of questions down to crucial questions of customers and value. Do you have insights, advice or a story about strategic marketing to share with other readers? Software company InsightSquared has used the Dreamforce 2013 conference to launch the latest version of its analytics tool aimed at helping smaller enterprises stay competitive. The turnkey SaaS solution can be up and running in under a day and incorporates three new technologies.
Reports from the system can be generated using a straightforward point-and-click interface and offer immediate insights that can be used to boost sales performance from day one.
Fred Shilmover, CEO of InsightSquared says, "We are taking sales and marketing innovation to a new level by making business intelligence powerful yet easy to use, which has never been done before.
Visitors to the InsightSquared stand at Dreamforce 2013 will be able to register to get a sales report in 60 minutes. Conducting the sales analysis process helps companies to investigate current sales performance and exploit opportunities for business growth and development. Preparation for the air vacation is actually the beginning of the trip, because when you start planning, it gives you a thrill of anticipation.
See What’s New in the Latest VersionOur newest version is full of features to help you make better charts more efficiently. Restaurant Operations & Management Spreadsheet Software Library for ExcelThis series of nine pre-configured and customizeable Microsoft Excel restaurant spreadsheets organizes critical data from your daily POS system sales, labor reports and food and beverage bills.
The entire set of nine Excel workbooks are $129, a huge savings compared to purchasing them individually.
Daily Sales Report: Designed to track your sales data from cash register or POS reports, the worksheet organizes daily and week-to-date results. Daily Sales Report plus Labor Summary: The worksheet tracks your sales data from cash register or POS reports and organizes daily and week-to-date results. Labor expenses are also tracked by department against the sales so you can check your daily and week-to-date labor costs as a percentage of sales. Weekly Sales & Prime Costs ($49): This spreadsheet takes this spreadsheet series to its logical conclusion by also accounting for your weekly food and beverage purchases as well as beginning and ending food and beverage inventories. Weekly Food & Beverage Purchase Log: Summarize your daily food and beverage purchases on a single weekly log sheet.
Employee Schedule & Labor Cost: This is one powerful tool that every restaurant operator should be using! Food & Beverage Inventory: Counting and calculating your end-of-month food and beverage inventory is made as easy as can be with this spreadsheet. Menu Engineering & Profitability Workbook: This is a powerful and fully automated tool for assessing the profitability of your menu items based on their food cost, selling price and popularity. Weekly Sales Projection: This is an easy tool to help project daily and weekly sales by day-part. Payroll Accrual: Accruing payroll at the end of each month is unquestionably the most important task that 99% of independent restaurant operators ignore.
Having a structured sales process based on a sales funnel with well-defined stages is essential to managing the sales process and forecasting future sales.
It is equally important to do comprehensive win loss analysis of sales outcomes so that one can learn, in equal measure, from patterns of sales wins and losses.
It allows the sales organisation to dramatically improve sales lead-to-order conversion rates.
This Sales Funnel Excel template incorporates a comprehensive Win Loss analysis with an extensive list of reports and graphic charts.
The template is totally flexible and allows the user to specify the win loss analysis framework and level of detail by setting up a customised list of reasons for wins and losses. Completed opportunities are then categorised by selecting the various outcomes and reason for these outcomes from dropdown lists. Check our comprehensive 21-page User Guide to see the full range of extensive features. Entering new sales opportunities in the sales funnel template is then made "quick and easy" by selecting the table entry from a dropdown list. The sales funnel net value of each opportunity is calculated based on the funnel stage and associated probability of closing an opportunity in that stage of the funnel. We promise to never spam you, and just use your email address to identify you as a valid customer. Click the button below to add the Sales Funnel Excel Template with Win Loss Analysis to your wish list. In every business in every city around the globe, CEOs, CFOs, directors, managers, sales people (and possibly YOU) are responsible for setting a sales and revenue goal for the next year, quarter or month.
Here's what we see happen often: Sales and revenue goals are often set based on what you would like to achieve.
When I say this, you may be thinking "getting there" means trade shows, direct mail, cold calling, etc.
Once you have all of these figures put together, it will be much easier to put a plan in place for reaching the audience that will provide the leads for you to convert to clients. So, before you write that goal for the record number of sales you're planning to make next month or quarter, spend a little time working through some of the questions above.

The first two are seen as being Internal to your organization while the latter two are External environmental or market conditions.A lot has been said and written around SWOT Analysis and the basics of this technique are easy to master.
For each SWOT category you should have a handful a€“ ideally not more than 3-5 a€“ of essential questions that uniquely shape that category for you. On the other hand, weaknesses make you vulnerable to threats which in turn detract from objectives.SWOT Analysis brings to light the ongoing and dynamic effort that is necessary to achieve success in any enterprise. Looking back at basic definition, your business revolves around creating value then creating customers for this value. Perhaps you have implemented a different marketing analysis approach that has worked really well or have insights into implementing strategic marketing for different kinds of businesses! Your representation of SWOT Analysis Synergies is pretty profound in a way and I have to say that I have not …Click here to write your own. But for small and medium businesses building up the kind of intelligence database needed can be time consuming and take staff away from the task of actually selling. Designed to work with the Salesforce CRM application, InsightSquared 3.0 has been put together based on feedback from experienced CEOs, along with sales and marketing professionals, in order to provide best practice reports and drive effective sales management. Instant Sales Insight allows managers to clearly see the relationship between sales activity and conversions. We’re delivering industry-changing innovation and setting a new standard for what modern business intelligence should be". Try CentriQS complete task management solution for planning, tracking and reporting tasks, projects, and schedules.
Use the following checklist to find out what steps you can take to carry out the process and improve your company’s sales activities.
In order to gain helpful information on how efficiently your organization utilizes its working capital within a certain period of time, you need to calculate the turnover of your working capital. If you try to use sales performance indicators (like Time to Market) you will find out that some of your products require more time and effort to be delivered to the target audience. There are three sales cycles including Retaining Customers, Attracting New Customers, and Enticing Existing Customers. All too often, POS data is automatically posted to accounting software without critical review by a manager, and then the ability to make timely decisions is lost.
The result is a weekly cost of goods sold (COGS) summary and a prime cost report which indicate your restaurant's total F&B usage plus Gross Labor in both total dollars and as a percentage of the current week's sales. This helps you schedule every labor hour of the day to provide you with instant feedback of the costs associated with your scheduling decisions.
Enter your restaurant's product list and unit prices in the inventory template, and thereafter, the form does all the math for you with totals by category.
Five worksheets are included to assess all your menu categories from appetizers to desserts. Simply input estimates of customer counts and check averages for each meal period and the worksheet calculates sales totals and daily percentage contributions. Once this is done, you can back up your goal with the right plan to get the lead make them a prospect THEN convert them to a client. In order to add value to this discussion, I will present the basics of SWOT in new ways as well as provide overview guidance on making the most of this analytic tool. On the other hand, your Weaknesses expose you to Threats that hinder you from your objective.Strategic Planning around SWOT is built on answering the following questions: How can you best maximize and utilize strengths? These Key Questions for each category will depend on what you are using SWOT Analysis for, e.g. Internal strengths and weaknesses must be continually assessed in order to build on opportunities while safeguarding against threats.A final element brought to light in this representation of SWOT is that the organization seeks to expand and fulfill its objectives through the market. It can be many months before the implementation of a traditional sales intelligence platform bears fruit. Sure Forecast ensures more accurate forecasting based on existing conversions and pipeline deals.
Increase productivity of your small business or office by better organizing your employees' tasks and time. You need to divide your company’s net income by last year's earnings and multiply this expression by 100. Your task is to define these characteristics, analyze their impact on sales and develop a strategy for increasing the company’s strengths and remedying shortcomings. For example, selling a technological product usually requires a long certification cycle that extends the overall sales cycle and so stretches out the time necessary to deliver this product to the target customers.
You need to investigate sales performance for each of the cycles and identify ways for improvement. Kitchen, Front of House, Managers, etc.) utilizing the labor report information from your POS report and salaried employee inputs.
Use this report to manage both your labor and your purchases and to keep expenses in line with sales budgets. Compare the labor expense of each scenario with your projected sales to determine optimum employee scheduling. Use in reverse to determine how many covers or check averages are required to generate total sales. As much as you can focus on the customer and market conditions, you will be able to meet your organizational goals. Opportunities are areas to add value to your offerings and a threat is anything that can cause you to lose customers."You" Sales and Marketing SWOT Analysis should be applied in conjunction with the more traditional SWOT approaches discussed here.
Thirdly the Smart Pipeline Manager makes it easier to spot high probability and high risk deals. To calculate your annual sales growth you need to subtract sales revenue for the last year from the current year and divide this expression by the sales revenue from the last year.
It helps you analyze your company’s sales performance and identify actions necessary to increase sales and profits while minimizing losses.
Try to use information on seasonal variations, random events and cyclical sales to adjust your sales strategies and exploit development opportunities.

Online surveys will help you gather valued information that you can use in forecasting your future sales figures. In such cases you need to investigate your market and define the best customer segments and niches with minimized sales cycles. Then use the plan to create your actual weekly schedule and track the actual labor costs against your plan and actual sales for feedback. For the purposes of our discussion, however, I will examine it from a purely sales and marketing perspective. In asking what our unique strengths are, the inverse of that question asks what our unique weaknesses are. On the other hand, threats and weaknesses bring the focus back home where diligent housekeeping is needed to keep you competitive and able to take advantage of all the market has to offer.
A high-level turnover could mean that the company involved too much capital in sales activities. If the first indicator is higher then you need to allocate additional financial resources in order to sustain your affordable growth. In the same way, because Opportunities and Threats are opposites that relate to the external environment, they can be explored similarly.Generally speaking, the Key Questions for any given exercise will always be the same.
The tools and methods I have provide here are meant to give you a solid understanding of SWOT Analysis which you should then tailor to meet your specific needs. Now you can use the indicator to investigate what products have shown an increase in sales and what products have been sold with declining. If the annual sales growth is lower then you need to consider reducing your sales investments for the upcoming year. I will explore additional synergies between Strengths and Opportunities and between Weaknesses and Threats later in this section.In understanding and applying SWOT Analysis to your own planning it is useful to consider the Key Questions and Pertinent Factors I have outlined below for each SWOT category (Strengths, Weaknesses, Opportunities and Threats). So, an overall business planning SWOT exercise will always revolve around the same key questions in each category.
Business analysis is a vast subject of discussion encompassing countless definitions, models and theorization that extend beyond the scope of this brief summary. In developing the right mindset for making the most out of such analytical tools you should be able to develop you own key questions as best suit your specific purpose and circumstances.Let us examine Key Questions for each SWOT category for the purpose of general business planning. In the customer-centric view of the world I talk about with "You" Sales and Marketing your strengths should translate into unique customer benefits.
As you embark on your venture, preparation and due diligence is vital to your success.Be SpecificIn analyzing the various factors affecting your business decisions and outcomes it is important to break things down in order to arrive at the most simplistic descriptions possible. Similarly, weaknesses are where you ultimately fall short in serving customers.Operational or de facto strengths or weaknesses are based on your resources and abilities as a company. For example, instead of listing "marketing problems" as a weakness, specify the who, what, where, why and how of the problem.Be ConsistentSWOT Analysis is not a one-time exercise but should be applied on an ongoing basis when and as appropriate. The ultimate goal should be creating a mindset around business planning that you use everyday and at every milestone in achieving your objectives.Be FlexibleThings change, the market changes and your business changes.
Alternatively, comparative strengths and weaknesses are based on your knowledge of the competition can also be analyzed. As such, your planning should change as you continue to develop new strengths, investigate new opportunities, assess weaknesses and stave off new threats.PrioritizeAs with all planning, it is important to develop a order of priority in dealing with the various findings your SWOT Analysis uncovers. These shape your unique positioning strategy.Understanding how the market views you a€“ that is, customers, competition and analysts a€“ equips you to gear sales and marketing efforts around emphasizing perceived strengths while educating around real ones. As well as measuring the importance versus urgency of issues, you can also apply a system of ranking and prioritizing various factors in terms of their organizational importance.QuantifyBuilding on the need for specificity in all your planning it is importance to incorporate as much data as possible into your SWOT exercises. In the same way you must address real weaknesses while educating around perceived ones.The question of reality versus perception is crucial to all of sales and marketing. If you are looking at a problem with retaining new customers, are there specific conversion metrics you can gather? It is no good having the best product in the world if nobody knows about it and the same can be said of your unique strengths and competitive advantages. What other measurements and standards can you effect in order to shore up your study?SpecializeAs the size of your organization grows and more and more people are involved in your business enterprise, you can begin to tap into different pools of expertise in lending credibility to a SWOT Analysis.
As well as internal teams consisting of members from various departments, you can also lean on customer, partners and other industry sources for crucial insights.Strategy, TacticsAny kind of business planning can always be high level or low level going from strategic to tactical.
Pertinent Factors can be categorized as Internal Factors and External Factors for the purposes of SWOT planning.Internal FactorsThese factors are those that affect your Strengths and Weaknesses and are within or a part of your enterprise.
SWOT planning can similarly be applied to long term objectives as well as shorter term goals and overall corporate strategy as well as day-to-day tactics. As you can see, SWOT Analysis brings up the more basic question of how to define the internal and external factors that shape business.
Any methodology used to define your business and business environment can then provide points of analysis for a SWOT exercise.External FactorsThese factors within a SWOT Analysis are those that affect Opportunities and Threats and are external to your organization.
The factors listed above are merely definitions to get your started and are not endpoints that are graded from 1-10 to establish Strengths, Weaknesses, Opportunities and Threats. Each should be elaborated on as appropriate for your situation.What other ways can you find to categorize the various factors that play into your own SWOT Analysis?
Almost any model for analysis internal and external business conditions can be used to define specific factors that will come into play in a SWOT exercise. Whichever model you are comfortable with and use should also be applied to SWOT planning.There is no end to how you can categorize the various factors that affect your decisions in obtaining your objective. Each set of factors is based on a specific perspective of looking at businesses and so you may find some overlap and interchange when looking at and analyzing the factors pertaining to your specific enterprise in various ways.Thinking about factors is a great way to expand your analysis of any one Strength, Weakness, Opportunity or Threat to ensure that you cover the full range of variables affecting your planning. For example, if a specific organizational process is deemed "time intensive" and this is seen as a weakness, then what about other process delays?
As well, the synergies between Strengths and Opportunities as well as Weaknesses and Threats are highlighted here.

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