SWOT Analysis

SWOT is an acronym for WHAT IS STRENGTHS WEAKNESSES OPPORTUNITIES THREATS

STRENGTH: Look at the internal strong points that exist within your practice. These are the assets
that sustain outside market changes and contribute to the success of your firm.

WEAKNESS: What areas of your firm negatively affect profitability? For example, if your practice consistently operates in a client-to-client financial crisis,that is a weakness.

OPPORTUNITIES: Identify opportunities for improvement within the firm, as well as outside market forces and competitive advantages that could benefit your practice if leveraged correctly. 

THREATS: Viewing your law firm with a long term view can help identify aspects that could cause you to close your doors. These may be similar to your weaknesses but threats are aspects that can cause firm failure. 

Download our latest resource on SWOT Analysis and 2021 Solutions that cover common problems solo lawyers and small law firms face and show you how to measure profitability.