Musings

       As our year is winding down it is time to study what has happened this year, good or bad, and make plans for a better next year.  The best tool for this is a SWOT analysis.  SWOT explores your strengths, weaknesses, opportunities, threats and trends.

       Your SWOT analysis is useful for developing and confirming your goals and your business' strategies. It will help you develop your plans for your next business cycle.  Just as you cannot build a house without a plan, you can't expect to succeed in business without a plan. The SWOT analysis will help you develop that plan.

     Let's look briefly at the components of your analysis:

1. STRENGTHS - What are you really good at?  What tools do you have that can be used to make you stronger?
2. WEAKNESSES - What is blocking your progress?  Components to consider include, but are not limited to, lack of knowledge, insufficient capital, morale, lack of a good plan, finances, technology or location.  These can all be corrected, as soon as they are identified.
3. OPPORTUNITIES - Is something new being implemented in your community.  Be the first to recognize a need within the project and you will soar. This is where "outside of the box" thinking can pay off.
4. TRENDS - Being able to recognize a trend before it happens.  Trends are closely linked to Opportunities, and require a leap of faith, but can create huge rewards if you guess right.
5. THREATS - This could be the most important part of your analysis.  Do you have competition moving into the neighborhood; has your product gotten stale; is technology passing you by?  All these challenges, and many others, can derail your best plans if you are not aware of them and ready to take action.

Once you have taken a good, hard look at your analysis you will be prepared to create your updated goals and plans and be well on your way to success.

Your Money - Your Life  

Make a List

       'Tis the season for shopping, and going into debt.  Don't let the hype of the season seduce you into spending too much.  Before you do any shopping, make a list.  List each person you are planning to shop for with two or three ideas for what you think they want.

       To make your shopping easier sort your list, grouping like items by store.  This will make you shopping easier and consolidate you trips for less hassle.

       Be sure that along with your gift lists you have notes about sizes and favorite colors. You should also keep in mind that your lists are not carved in stone; you may just spot something that is a better choice. With just a little planning this year's holiday shopping can be a lot of fun and not a chore at all.

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