What is Personal SWOT Analysis
Personal SWOT Analysis is a framework to analyze your situation in life to make better long-term decisions.
Think about it.
You’re a one-person company. You have:
- A mission and goals to achieve it
- Income and liabilities
- Skills (or products) that you market to other companies
- Different projects you work on
And if your life resembles a company, it’d make sense to manage your life like a CEO, right?
Of course.
Now, executives use a tool to have situational awareness of their companies: SWOT Analysis.
It’s simple.
And effective to understand where you are in life and where you should be going.
So it allows you to make better life decisions by becoming aware of yourself.
What does SWOT stand for
SWOT is an acronym that explains itself: you reflect on and list your strengths, weaknesses, opportunities, and threats.
You can think of all aspects of your life — career, financial, and personal.
Great. But I can hear you asking “How?”
Ask yourself these questions to find your answers:
SWOT Analysis Of A Person
To Find Your Strengths:
- What are my skills that people would pay for?
- What feels like play to me and work to others? (H/T Naval)
- In which areas do I have deep knowledge?
- What are the competitive advantages (mindset, connections, financial situation, etc.) I have?
- What are the good habits I have that increase my self-respect?
To Find Your Weaknesses:
- If I were my own mentor, what skills would I suggest to improve?
- What are the areas that I should know more about?
- What are the competitive disadvantages (lack of savings, connections, remote location, etc.) I have?
- What are my bad habits that my future self will regret?
- Is there any relationship (family, friends, or business) that is holding me back?
To Find The Opportunities:
- What is a skill I can learn that would 10X my other skills?
- What knowledge would position me better for the future?
- What is the city (or country) I can move to improve my life?
- What is an investment I can make today that would make my future self proud?
- What are the trends in the world that I can benefit from?
- If a big crisis comes soon, how can I be in a better position to benefit from it?
To Find The Threats
- Do I have a meaningful job? Is it how I want to spend my time?
- Which of my skills might be irrelevant in 5 or 10 years?
- What are the trends in the world that might inhibit my career?
- Will my country be politically and economically stable in 5 years?
- Am I financially ready for crises? Do I have enough redundancy?
Here’s an image version to remember them:
A Personal SWOT Analysis Example
Following the questions, here’s a simple example that can guide you:
Strengths
- Graphic design skill
- Copywriting knowledge
- Fast learning ability
- High level of savings/investments
- Training habit
Weaknesses
- Limited coding knowledge
- Speaking only one language
- Drinking alcohol on a regular basis
- No significant social media presence
Opportunities
- Increase in freelancing opportunities
- Digital products as a trend
- The city I live in is becoming a startup hub
Threats
- The entry barrier to my profession is getting lower
- Social media is becoming the primary acquisition channel
- Increased crime in the city I live in
- The impact of high inflation
If you’d like to save and remember it later on, here’s an image version:
A personal SWOT analysis will make you reflect on your life as you haven’t done before.
It’ll paint a picture of your current situation and allow you to find the best path for yourself.
Use it on a regular basis to manage your “company” like a CEO.
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