Sweet SWOT Strategy "6"

Those of you in the Mindshop (www.mindshop.com) group will know we have been working through "business sweet spots" in our business leader groups over the last month.  We also do a version of SWOT analysis with our clients called strategic SWOT - which uses cross referral between the categories to develop strategy.

Combining sweet spots and strategic SWOT has given a real enhancement to my SWOT reviews with clients this month.  Here's the process:

1. Analyse the business sweet spots
   Sweet spots are strengths - but the metaphor of the "middle of the bat" implied by "sweet spot", encourages clients  really to think about those areas of effortless success inside their businesses, and tends to limit the selection to those aspects that are real strengths.
   
   Useful discussion can be undertaken around how to maintain, use more broadly, learn from or enhance each.  Try mind-mapping these out, and picking a few strategies up as you go.
   
2. Identify growth and profit opportunities
   
   This area is always worth thought, and detail.  Look for the specifics and avoid anything vague; look for things that can actually be done.
   
3. For each opportunity establish, at least, the sustainable competitive advantage needed or held to take it
   
   Focussed like this on an individual market opportunity really makes us think deeply about the specific customer advantages that need to be delivered, and therefore the marketing and operational strategies that could be adopted.
   
   Look for rights over intellectual property, key physical assets and systems that will be used, project leadership, supplier partnerships etc.  Be really clear about the market opportunity; which clients, in which order, why will they buy, where will it lead?
   
4. List the resources required and identify those that are critically limited
   
   Again this is a far more focussed review then just a review of weaknesses.  Encourage the client just to note those resources that are critically limited - these will need increased sufficiently or will prevent growth and profit.  There is no may here - we are looking for the ones that "will" limit action, and for specific strategies to deal with this.
   
5. Check for risks
   
   Rather than look for threats, use a thorough risk analysis tool, like "failure mode effect analysis", and absolutely ensure that there are plans in place for any risks that score above the set index.  A useful approach is to review FMEA against each sweet spot, each limited resource and finally against each growth and profit opportunity.  Thoroughness is an advantage when working the tools at this stage.
   
6. "6" is for Strategy
   
   Now go through all of the detailed work, taking a step back.  Having gone through everything, what comes out for you?  Use the 80:20 rule and select the 20% of listed strategic actions you feel will gain you the most.   Slot these into your one page plan and crack on with implementation.

I have found the enhancements above to the normal strategic SWOT stimulating of creativity and detail, and  very useful in driving out strategic plans with clients.

As an aside, I know many of you will be moving into using tablet devices of one sort or another to work with clients and I am using my iPad very thoroughly these days.  I use "Mindmanager" (enterprise edition) on my pc.  You can download the allied "Mindjet" App from AppStore, which has many of the best features.  Interestingly mind-mapping this works perfectly for the above tool with the first six map elements taking the themes set out above.

I hope you enjoy working this tool with clients and find some benefits in my method.