Successful coaching businesses don’t just happen. Robust coaching businesses require intentional thought and planning, as well as a clear understanding of the Strengths, Weaknesses, Opportunities, and Threats (a SWOT Analysis) you posses, both personally and professionally.
If you’ve never completed a SWOT analysis before, it’s simple. Simply rite down the answers to the questions below. Just be sure to consider these questions from both a personal and professional perspective.
- What are your top strengths?
- What abilities or skills do you have that set you apart from others?
- What are your core values?
- What abilities do others call out?
- Which achievements in your life make you most proud?
- What weaknesses have you or others noticed about you?
- What personal and professional limitations are you aware of? (Physically? Financially? Emotionally? Socially? Technologically?)
- What personality traits might hold you back? (For example, have others said you sometimes come across as impatient, angry, or aloof?)
- What negative habits do you have? (Lack of follow through or motivation? Poor financial management?)
- What are you lacking in education, skills, or emotional intelligence? How can you address these areas?
- What networks are you a part of? How can you leverage these networks to grow your business?
- Is there potential for strategic partnerships in your business?
- What new skills could you learn that would set you apart from other coaches?
- Are other coaches missing an opportunity that you’re uniquely qualified to fill? How could you fill it?
- What trends do you see in coaching? How can you get ahead of the curve?
- What obstacles, personally and professionally, have the potential to derail your success?
- Do any of your weaknesses have the potential to become a threat?
- Have you stopped growing personally and professionally? Does your appearance, virtual footprint, mindset, or business model come across as dated or “old school”? What needs to change?
- How is your technological savvy helping or hindering your business?
- Are there competing priorities that undermine your business? How could you eliminate or minimize them?
A SWOT analysis is an excellent tool for identifying your strengths, weaknesses, opportunities, and threats. More important, it’s a tremendous resource to help you focus on your strengths and take advantage of the many opportunities available to you that will help you succeed as a coach.