The Extreme Value of a ‘SWOT’ for your Business [THA 283]

How often are you checking on the overall health of your business with your team members involved? Are you identifying and working on the strengths, weaknesses, opportunities, and threats, known as SWOT? How do you start a SWOT analysis? What are the benefits? How do you find your blindspots? Does knowing your SWOT give you a competitive advantage? My panel takes a deep dive into the value of SWOT and shares their own experiences.

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Brian Bates, Eagle Automotive Service, Littleton, CO, 9 locations. Brian’s previous episodes HERE

Michael Smith, Managing Partner, Herzberg Smith and Co, Michael Smith’s previous episodes HERE

Bill Van Hoose, General Manager, Eagle Automotive Service, Littleton, CO, 5 locations

Key Talking Points

  • SWOT Analysis is just one component of a comprehensive approach to continuously reassessing and improving a company’s structure, performance & results over time. SWOT is Step #1 in a 5-step value building cycle – As-Is discovery, To-Be future, gap analysis, gap closure, and begin again.
  • Strengths & Weaknesses are INTERNALLY-focused and  Opportunities & Threats are EXTERNALLY-focused.
  • Path to Mastery – Achieving mastery requires continuous assessment & development; SWOT plays a crucial role
  • A comprehensive (breadth) SWOT analysis examines ALL value-levers & business functions.
  • A deep-dive (depth) SWOT analysis includes an alignment-assessment for each lever & function, from vision down through deliverables & success metrics.
  • People do business with people
  • Consider doing a SWOT post Covid
  • Starting- pick 1 problem area first, you will uncover other problem areas naturally. Remove your arrogance during the process. Add humility. Ensure your team is aligned with your culture, business and SWOT. It is a collaborative effort to improve, you are not assigning blame.
  • Implementing SWOT with a qualified moderator to dig deep, unveil blindspots and ask the hard questions
  • “What’s your legacy? What is your exit strategy?” Have the end in mind. What is your value proposition?

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Important Books

Check out today’s partners:

More Time. More Profit. Shop-Ware Shop Management

About the author, Carm Capriotto, AAP

Carm is the founder and host of the Remarkable Results Radio Podcast and the pioneer of automotive aftermarket podcasts. Carm calls on his years of experience in the aftermarket to bring engaging stories from his guests.

Listen to raw, unfiltered, honest, and sincere stories that include insights, trends, best practices, and expertise. Each interview brings an opportunity to learn one new thing through the stories of personal achievement. Many podcast guests tell their story of transformation from working in their business to working on it.

As host of over 1,000 episodes, Carm uses his enthusiasm and passion for the aftermarket especially the service sector to take his listeners on a journey showcasing successful service professionals’ paths to Remarkable Results. He also enjoys interviews with aftermarket industry thought leaders who bring their industry perspectives to his listener.

Follow the podcast on your favorite podcast listening app and always listen to learn just one thing!