By Garry Hojan In this newsletter, we cover my favorite part of a SWOT analysis: opportunities! In the last two newsletters, we covered the initial steps needed to begin your SWOT analysis, focusing on strengths and weaknesses. If you missed them, you can read them here http://bit.ly/3SIV0k2 (Initial steps and Strengths) and here http://bit.ly/4dTKwYT (Weaknesses). […]
Q: Considering Opportunities in your SWOT Analysis Read More »
By Garry Hojan In the last newsletter, we covered the initial steps needed to begin your SWOT analysis and then began analyzing Strengths. If you missed it, you can read it here: http://bit.ly/3SIV0k2. This newsletter will briefly cover how to evaluate and capitalize on weaknesses. What is the purpose of analyzing weaknesses? To improve your
Q: How to assess weaknesses in your business during a SWOT analysis. Read More »
A: Start with strengths (find out how below) By Garry Hojan Okay, so we’re talking about a SWOT analysis here. For those unfamiliar, a SWOT analysis evaluates your company’s competitive position in the market and is foundational for developing your strategic plan. Strengths and weaknesses data come from internal sources and address those two topics
Q: Where do I begin to define strengths, weaknesses, opportunities, and threats? Read More »
By Garry Hojan Decades ago, I was privileged to have met the late Dr. Steven Covey at one of his workshops. It was right after I had read “The 7 Habits of Highly Effective People.” Tactic #1 is habit #2 from Dr. Covey, “Begin with the end in mind” Knowing the end goal when setting
Q: How can goal setting help me to achieve revenue goals in 2025? Read More »
By Garry Hojan Profit = Total Revenue—Total Expenses. The two items listed here are sales and costs. Those are the two levers that adjust the business’s profitability and cost reduction, which has a multiplier effect. The reason for the multiplier effect on profit is as follows: If I cut $100 of non-revenue generating expenses, it
Q: What is the best way to reduce costs to drive higher profits? Read More »
By Garry Hojan Why at the beginning, of course. I’m being a smarty pants, please forgive me. Most business school theories say to do a SWOT analysis first to have a strong picture of your business status and to make better decisions on launching to the next level. I agree with the value of SWOT
Q: I want to be more intentional about growing my company. Where do I start? Read More »
By Garry Hojan, fractional CEO This question is so important when dealing with a high-liability, highly regulated industry like aerospace. The requirements generally start with a deliverable in a purchase order. The purchase order will likely reference terms and conditions. I recommend reviewing them carefully and not dismissing those terms; more on that later. The
By Garry Hojan A: This is an awesome question, and certainly not industry-specific. It affects all of us to one degree or another, no matter what business we are in. Below in this response, I’ll include Google’s response to “causes of feeling overwhelmed in business” so you have some practical tips from the all-mighty ABC
Aerospace manufacturing expert, Garry Hojan, shares why manufacturers should focus on in-house training for the longevity and value of their company.
In-house Training: Why you should train now Read More »
By Garry Hojan Our Solution My first question back to you is: Why are you thinking of expanding into new related industries? The reason I’d ask is because there are many reasons not to expand, like the following: Before deciding to diversify into a new or related industry, thoroughly investigate whether it is truly the
