To stay ahead in your business, you’ve got to constantly adapt. Today I’d like to talk about how the SWOT formula can help you do just that.
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What is the SWOT formula and how does it relate to your real estate career or your investing business? SWOT is actually an acronym describing different concepts that are important to the success of your business.
“S” stands for strengths. What are your strengths? Whether you’re a pro at marketing or a great salesperson, it’s important to hone in on your skills in order to do well in your business.
“W” stands for weaknesses. What are your weaknesses? If you’re investing too much energy into focusing on your weaknesses, you could be taking critical attention away from your strengths. When you know what your weaknesses are, it can be helpful to hire others to make up where you lack.
You must constantly innovate and improve in your business if you don’t want to be left behind.
“O” stands for opportunities. What opportunities are you missing out on? If you see an opportunity, seize it. When markets shift, you must adapt and overcome. If you aren’t doing this, you’ll be lost in the shuffle.
“T” stands for threats. What threats are you facing? If you aren’t adapting and overcoming, your competition may pose a major threat to your business. You must constantly innovate and improve if you don’t want to be left behind.
Following and thinking critically about the SWOT formula can greatly improve your business. If you pay attention to each of the concepts and questions we went over today, I promise you’ll go further, faster in your career.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
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