SWOT Competitor Analysis Template
There are so many successful companies in this world that have attained their success partially by the use of SWOT Analysis. However, this is not the sole reason these companies are so successful, they not only keep track of their own particular internal and external factors that influence them, and they also keep a close eye on their competitor companies and the factors that cause deviation in their strengths and weaknesses.
There is a saying that goes something like “Keep your friends close, keep your enemies closer. On first glance this may not exactly be appropriate for this particular case, but if you look at it closely, it makes perfect sense. The better you know your competitors, the better strategy you can formulate for you own success by keeping them, their products, and their plans in regard.
To do that, you need a perfectly balanced method, and that is where the SWOT competitor analysis comes in. Instead of keeping an unorganized track of your competitor, you need an established technique, and SWOT competitor analysis is perfect for that.
And to get you started, we have a perfect template for you. But before I get to the template, we are going to go into detail about SWOT Competitor analysis in general, and in particular, its relationship with your competitor.
What is SWOT Competitor Analysis?
A SWOT analysis is a simple yet incredible tool that helps you develop a foolproof start up technique either for a new business, a project, or even for self-betterment.
It stands for- “Strengths”, “Weaknesses”, “Opportunities”, and “Threats”. These four components of SWOT analysis are very self-explanatory.
Strengths and Weaknesses are the internal factors that your company depends on; they include skill, talent, and work ethics of a certain company’s workers. These two components are under your control; you can either use them for improvement, or abuse them.
Opportunities and Threats are the external factors that your company depends on; you have absolutely no control over them as they are dependent on the things out of your reach. You can use the opportunities you get as an advantage, or you can give in to the threats.
How is SWOT Analysis related to Competitor Companies?
As stated before, the better you know your competitors, the better you can work against them. And it’s so much more accurate if you use SWOT analysis to evaluate them. SWOT analysis consists of all the components you require for a solid evaluation. You can assess your competitor’s strengths and weaknesses, and compare their external factors to your own.
What This Template offers
This template lets you do a comparison of your own company with its competitors by staying in the framework/ technique used by a simple SWOT Analysis. This makes the analysis much more reliable and understandable.
This Microsoft Excel spreadsheet template offers a minimalistic design and a competitor index, with the option to list down more than one competitor. It also has two separate boxes for external and internal factors that take in the consideration of you competitor companies as well.
It is perfect for your official use, and it is completely free!Download SWOT Competitor Analysis Excel Template
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