When we’re working on a business concept with clients, looking at the project from all angles is vital to ensure we create a solution that is robust and workable. Recently we’ve had a few clients come to us super prepared (we love that!) and they had all done SWOTs (remember the ol’ Strengths – Weaknesses – Opportunities – Threats?) Which is terrific and gave us some great, immediate insights.
It also gave us some questions:
- How do you know these things to be true? Especially the ‘strengths’, where there can be a tendency to put some sweeping statements about your level of capability.
- What’s missing? Especially in the Weaknesses and Threats (it’s had to put tricky stuff on paper about yourself.)
But most importantly…so what? Why should we care about these things and how they will impact what you’re doing?
Enter the TOWS Analysis.
Much less known than her famous SWOT cousin, TOWS is the practical one. She lays out the strategy of how you’ll respond to the finding of your SWOT. Created by Heinz Weihrich, PhD, way back in 1982, it’s a great tool for taking the ideas from your SWOT and guiding your actions.
As you go through the TOWS analysis, you’ll consider the intersection of each internal and external factor, thinking about how you can:
- Use strengths to leverage opportunities
- Lean on strengths to avoid threats
- Harness opportunities to overcome weaknesses
- Minimise weaknesses and threats
If business and/or project planning is more than a ‘tick a box’ exercise for you, then considering this extension of the SWOT should be on your radar. We love working with businesses and organisations who take a proactive approach to where they are heading.
Want to chat more about business or project planning? Get in touch and we’ll explore how we can help you get the most out of the time you invest in planning.