Seeking Out Opportunities for Your Practice
This post is the 3rd in a 4 part series discussing the SWOT Analysis tool, which is utilized by The Green Leaf Group in our business consulting modules as well as in our 13 class online course How To Create Predictable Profit for Your Cash Practice. We created this course with you in mind; our goal is to help you create the practice of your dreams, so be sure to check it out!
I realize I may be stating the obvious here…
If you’re already familiar with what a SWOT analysis is, hopefully you realize why it’s such a powerful business development tool. We create a SWOT analysis with every one of our consulting clients and often find that they’re surprised by how helpful it can be to have this simple grid in front of you, really breaking down the state of your business.
For the uninitiated, SWOT is an acronym which stands for Strengths, Weaknesses, Opportunities, & Threats. The SWOT format is a four-square grid where each category gets its own quadrant, and we write the respective attributes of your business in each. For this blog, we’re going to focus solely on the Opportunities quadrant – which, for plenty of entrepreneurs, is probably the most exciting and inspiring quadrant, and for good reason.
Let’s start out with an objective definition of what we’re talking about here:
Opportunities are external chances for growth, expansion, or improvement. These often come to be through happenings outside your business and you have to be vigilant to spot and take advantage of them when they do. Opportunities can arise in the form of technological advances, medical breakthroughs, market developments, etc. Being able to catch opportunities as they come can massively affect your ability to compete and take lead in your market.
To start, ask yourself the following questions about your business as it currently stands:
- What’s going on in our industry today?
- Are we up to date with our treatments/technologies?
- What are other providers in this space talking about or excited about?
These questions are the springboard to understanding your practice’s external opportunities.
Fair warning: if you’re not already in the habit of looking for opportunities all around you, this can become an all encompassing mindset! Once you start to seek the potential upside in everything, it will become an infectious way of thinking that will seep out of your business and into your every day life.
Since you’ve taken the time to read this far into our blog post (thank you!), here’s a massive opportunity from one member of the hormone and wellness space to another: Peptides.
If you got something from this blog, be sure to check out our free online course, Creating a Mindset that BOOSTS Success where we go into great detail about the importance of having a growth mindset when it comes to building a successful business or practice. Or, if you’re ready for the full course, check it out using the link at the top of this post![/vc_column_text][/vc_column][/vc_row]