How to Do a Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis by Marion Simon, Ph.D., State Specialist for Small Farm and Part-Time Farmers Kentucky State University Cooperative Extension Program Have you ever been told that you need to do a SWOT analysis on your business? A SWOT analysis identifies your business or your farm’s opportunities and weaknesses and begins to examine the opportunities and threats that you might be facing. SWOT analysis are used in business to assist in building marketing and strategic plans. To begin a SWOT analysis on your goat farm, begin by listing all the strengths and weaknesses. For example, you might have a great start at a show string that stems from your child’s 4-H or FFA project.
Strengths Three nice show does from son’s 4-H project. Live nearby commercial auction. Have 20 acres to run commercial and/or show animals on.
Weaknesses Only have three goats.
Opportunities Look for buck
Threats
Can utilize the market for commercial animals. Can fence off rotational grazing pastures.
The SWOT analysis identifies the farm’s internal strengths and weaknesses and examines the external opportunities and threats that the farm business faces. The SWOT analysis helps to provide direction for the farm business and serves as a basis for the farm’s business plans. Once all of the strengths, weaknesses, opportunities, and threats to the farming operation have been listed, the information should be combined and strategies developed. Draw up plans to take advantage of the strengths and opportunities, counter the threats if possible, and minimize or reduce the weaknesses. Pay close attention to strengths that can help the farming operation achieve its goals and objectives, and use the SWOT analysis to give an overall look at the current position of the operation. Then use the analysis to plan future strategies and to manage the farming operation. Develop strategies that will strengthen the weak areas or take advantage of the strengths and opportunities. Give close attention to developing strategies that focus or capitalize on the strengths of the operation.
24 - The Boer Goat
