In this video I want to talk about this water analysis of a business.

Usually this is done doing the business planning process in your business and you have a little bit

of a smaller microcosm for your business.

Don't take it seriously and don't go overboard with it.

But just be aware these are things to think through so on your and make a chart just like this on a

piece of paper and add your own strength for example the strength is maybe you have skills and something

maybe you have a little bit more money than other people to put into the business.

Maybe you're in a wealthy neighborhood where the neighbors have more money at this point things like

that your weaknesses might be not that much time allotted for this business.

Maybe your child is a little younger than most children you know who started business so they can do

every possible business whatever your weaknesses are.

You want to put those down.

And of course the opportunities opportunities might be.

Of course there's a lot of online opportunities maybe you have some products available to you maybe

have some services you can naturally provide or some skills those are opportunities and threats threats

might be something like maybe the economy in your local area is not doing very well and maybe a threat

is if you're trying to think of a business that's an online business competition might be a threat whatever

those things are for you.

This is a it's not an official document but it's a very good guideline that you can get your ideas organized

and see where you should take your business and where you should avoid taking your business.

And that is going to help you shape how you think of your business ideas which business ideas you discard

and which business ideas you double down on.