Ever played the board game snakes and ladders? It’s a helpful analogy if you’re interested in understanding SWOT analysis. Much like the game snakes and ladders, opportunities are ladders you can climb to boost business growth. In contrast, snakes are threats that can adversely impact the progress of your business.

But unlike the game, which is based on luck, you need to make business decisions based on facts, data, and insights. And one way to gather this information is through SWOT analysis.

SWOT analysis can help you identify opportunities and threats and help you evaluate your business’s strengths and weaknesses. It’s specially designed to consider both internal and external factors that play a key role in the growth of your business.

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