There is always an element of risk in business. No matter what you do, no matter how stable the market, there’s always a chance that something will go wrong. Making money and being successful is all about knowing how much risk to take.
One way to make sure you’re running your business properly is by conducting a SWOT analysis, a common analysis technique used by businesses and investors. The benefit of a SWOT analysis is that it not only looks at your strengths and weaknesses, it also forces you to look outside your business at the rest of the world. Let’s look at the four areas included in a SWOT analysis.
