In part two of our practice strategy series, we examine how a SWOT analysis might look through the lens of COVID-19, how to apply the learnings of your SWOT analysis and how a TOWS matrix can help you further connect the dots.
A SWOT analysis allows you to look at four key areas of your business environment: Strengths, Weaknesses, Opportunities and Threats. Here’s how to complete a comprehensive analysis so you can see what’s going well at your practice and what needs to be addressed.
Some companies have been able to not only accelerate growth but also increase profitability while facing economic headwinds. As dental offices begin to reopen and rebound from the COVID-19 crisis, practice owners should focus on three key dimensions to navigate the economic downturn and come out the other side stronger.
Whether you’re handling emergencies only, entirely shut down, or taking initial steps to reopen, you’re no doubt focused on the near-term future of your practice. Kathy Brodal, a Patterson Dental business educator, offers eight ways to plan, prepare and pull off a strategy for propelling your business forward effectively.