Strengths, Weakness, Opportunities And Threats (S.W.O.T.)
SWOT - Is one of the tools we use in strategic planning for construction companies to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in determining the particular target market.
Strengths - Are construction projects that your construction company does extremely well at and earns a greater than average gross margin than give it an advantage over other contractors. What are they and how can your construction contracting company expand on them?
Weaknesses - Are construction projects that your construction company does poorly at and breaks even or loses money. What are they and how can your construction contracting company turn them into strengths?
Opportunities - Are construction projects and markets not currently being served where it is possible for your construction company to enter and turn them into strengths?
Threats - Elements outside your construction company that could cause trouble for you or your construction projects. What are they and how can your construction contracting company turn them into opportunities?
"So it is said that if you know your enemies and know yourself, you can win a hundred battles without a single loss. If you only know yourself, but not your opponent, you may win or may lose. If you know neither yourself nor your enemy, you will always endanger yourself." The Art of War by Sun Tzu
There Is A Lot More that I would like to share with you about using SWOT to help your construction company increase sales, profit and cash flow by redirecting the time, money, energy and resources from the bottom 80% of your current customers clients and jobs to the top 20%. Please feel free to contact Sharie for more information.
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About The Author:
Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist and Bill.Com Certified Guru. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and construction accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and Xero accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.
Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Follow Randal on Google+