SWOT Analysis is an effective method of identifying your Strengths and Weaknesses.
SWOT Analysis is an mean to examine Opportunities and Threats confronting you.
Analysis using the SWOT framework may reveal changes which can be helpful.
To carry out a SWOT Analysis write down answers to the following questions:
Strengths:
What are your advantages?
What are you good at doing?
What has rendered you feeling good or brought praise?
Consider this from your own point of view and from the point of view of the people you deal with. Don't be modest, be realistic. If you are having any difficulty with this, try writing down a list of your characteristics. Some of these will hopefully be strengths!
Weaknesses:
What could be improved?
What have you not done well in the past?
What situations or people should you avoided?
Again this should be considered from an internal and external basis - do other people perceive weaknesses that you don't see? Do your competitors do any better? It is best to be realistic now, and face any unpleasant truths as soon as possible.
Where are the good chances facing you?
What are the interesting trends?
Useful opportunities can come from such things as:
Changes in technology and markets on both a broad and narrow scale
Changes in government policy related to your field
Changes in social patterns, population profiles, lifestyle changes, etc.
Threats
What obstacles do you face?
What is your competition doing?
Are the required specifications for your job, products or services changing?
Is changing technology threatening your position?
Do you have bad debt or cash-flow problems?
Carrying out this analysis is will often be illuminating - both in terms of pointing out what needs to be done, and in putting problems into perspective.