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Mar 6, 2023<\/p>\n
\u00a0<\/strong>Show Notes\u00a0<\/p>\n They say success is 80% mindset, but what happens when \u00a0<\/strong><\/p>\n SWOT stands for Strengths, Weaknesses, Opportunities, \u00a0<\/strong><\/p>\n Competition isn\u2019t a Bad Thing<\/p>\n Forces you to stay fresh in your Brings more visibility to your Gives you a chance to focus on \u00a0<\/strong><\/p>\n Getting Your Mindset Right<\/p>\n \u00a0<\/strong><\/p>\n 1. Ask yourself these questions when performing a SWOT Strengths – What is your unique Weaknesses – What are some things Opportunities – What external Threats – What external factors \u00a0<\/strong><\/p>\n 2. Perform the SWOT Test on your competitor\u2019s Doing this will help you focus on reality versus the \u00a0<\/strong><\/p>\n 3. Make changes to your business based on the results Push the gas on your strengths. Find a way to level up If you are looking for additional support and someone \u00a0<\/p>\n Full show notes here https:\/\/wendybatten.com\/147-2\/<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n<\/div>\n
\nfactors outside of your control (in this episode we will talk
\nspecifically about competition) leave you feeling defeated?\u00a0
\nHow can you get your mindset back to good? In this episode, I\u2019m
\ngoing to talk you through how performing a SWOT Test on your brand
\nand business can help you reframe your mindset and leverage
\ncompetition to improve your business.<\/p>\n
\nand Threats. Doing this exercise will really help you brainstorm a
\nbigger picture and overview of what is really going on in your
\nbusiness and where to focus your efforts.<\/p>\n\n
\nbusiness<\/p>\n<\/li>\n
\nshop and can actually funnel customers right to you<\/p>\n<\/li>\n
\nwhat you do well and what makes you and your brand unique (your
\nstrengths) and improve upon the things you don\u2019t do so well (your
\nweaknesses)<\/p>\n<\/li>\n<\/ul>\n
\nTest on your business.<\/p>\n\n
\nselling point? What do you do better than anyone else? What do your
\ncustomers love about your shop that is unique to you? What does
\nyour community say you are the \u201cgo-to\u201d for? Focus specifically on
\nthe strengths of your brand.<\/p>\n<\/li>\n
\nyou struggle with? Where are the gaps in your skillset? What things
\nmight hinder your success? Where can you spend time ensuring your
\nbrand is strong and well-known? Are there aspects of your business
\nwhere you are just \u201cwinging it?\u201d<\/p>\n<\/li>\n
\nfactors can help your business grow? What changes would your
\ncustomers like to see? What additional revenue streams can be
\nadded? What emerging technology can you leverage?\u00a0<\/p>\n<\/li>\n
\ncan harm our business? Are there economic or social issues that can
\nharm your business? What other risks\/challenges do you face? When
\nyou assess threats, be sure to evaluate the truth in the things you
\nare telling yourself.<\/p>\n<\/li>\n<\/ul>\n
\nbusiness.<\/p>\n
\nreality you\u2019ve created in your mind. Don\u2019t dwell on this step – it
\nis meant just to give you a clear picture of what is actually
\nhappening.<\/p>\n
\nof the test you performed on YOUR business.<\/p>\n
\nyour weaknesses. Remember that by focusing on your weaknesses they
\nbecome strengths. What opportunities did you identify that you can
\nseize? How can you leverage your marketing plan, your community,
\nand branding so that your competition feels like less of a threat?
\nFocus specifically on the things YOU have control over.\u00a0<\/p>\n
\nto bounce ideas off of, my Retailers\u2019 Inner Circle is a great
\nresource. Not only will you have access to me and the bright minds
\nof over 100 fellow creative retailers, but you will also have
\naccess to my signature course, Retail Made Simple, and countless
\nmasterclasses that will help you level up every aspect of your
\nretail business.<\/p>\n