Yesterday, we began this discussion of SWOT analysis. Today we want to continue it by talking about the last half of SWOT: Opportunities and Threats.
So far, everything we’ve discussed has been internal – focused just on you. Your strengths. Your weaknesses. Now we’re ready to bring in the external forces.
Take a tip from entrepreneurs when you’re trying to find your opportunity. Entrepreneurs know:
Where there’s change, there’s likely to be growth.
And where there’s growth, there’s opportunity.
So look for change to find your opportunity. For instance, the baby boom has been changing markets in the United States for years. Now they’re starting to retire. This is creating huge opportunities in health care, travel, and home services, among others.
In fact, many of the hottest careers in the coming years are centered on the needs of the baby boomers as they retire. Many new businesses will succeed bigg by serving them as well.
This is just one example of changes that occur that create opportunities. But opportunities are only half the picture. You also need to consider the threats.
Ask yourself, “What could happen that would significantly affect you if you choose this career?” Because here’s a little tip about change:
Change creates opportunities in new fields while destroying existing ones.
Let’s look at a famous example from early last century. If your chosen career involved nearly anything to do with carriages, you were in trouble with the advent of the automobile. Technological change is probably the main driver of changes like this. However, changes in industries also occur due to things like consolidation, outsourcing, and more.
Mary-Lynn shared her career experience. She loves radio, but with the internet and consolidation in the industry, it’s harder to find good opportunities than it used to be. Change is creating destruction.
At the same time, the internet and new media are presenting opportunities for people with skills like hers – opportunities to build your own content and brand. Change is creating growth.
Mary-Lynn found her path to peace of mind. She started with finding her passion. Then, with her core values in mind, she did a SWOT analysis, which prompted her to change careers, while still using all of her talents and experience.
Putting it all together
When you’re done with your SWOT analysis, you should have a number of possible fits. Don’t make the mistake of only looking at compensation. That’s part of the picture, but certainly not the only thing.
We have a friend who accepted a job because it paid so much. She told us that she knew it didn’t fit her passion; it was in an industry that she wasn’t particularly excited about. But it was so much money! Soon, she found she hated her job. She was unhappy all the time – even at home. Money isn’t everything!
You know where you are now. You’ve visualized your dream life so you know where you want to be. All you have to do is choose the best path to get there!
Our Bigg Quote today comes from Douglas Everett.
“There are some people who live in a dream world, and there are some
who face reality; and then there are those who turn one into the other.”
The world needs more dreamers, but even more … the world needs more doers that make their dreams come true.
Next time, we’ll discuss freedom and security. Experts say that you can’t have both; you have to choose one or the other. We’ll ask the question … why can’t you have both?
Until then, here’s to your bigg success!