A SWOT analysis is designed for strategic thinking: It’s to help you understand where your business is and where you need to go next. Use this template when you’re considering the big picture, like how to best launch a product, what features would best serve your customers, or how you can find new clients. Running a successful business comes with challenges that make it hard to stand out in any niche. Today, more than ever, your business competitors can easily access the same information and content as you do from the internet. Therefore, you need a strategy to help you grow your business amidst the stiff competition. The best and most straightforward way to start the growth process is by conducting a SWOT analysis for your company. This analysis allows you to simplify the project’s intended objectives and highlight the external and internal factors that define how those objectives are achieved. As a result, you can connect the existing actions to plans.