SWOT analysis has value but it should not be a process that you go through once a year or six months in some formalised (sorry for the apparent misspelling - it's British Commonwealth/English/Australian/New Zealand/Indian/South African english rather than American english) way. It should be a process that is in the forefront of your mind at all times.
As you encounter, in your day-to-day working, issues that address any of the items in SWOT analysis (you business/personal/staff/equipment/etc. Strengths, Weaknesses, Opportunities and Threats) you should ensure that you take the time to address them.
In other words these issues should become a daily part of your awareness and thinking if you want to achieve continuous improvement in your business affairs.
The real advantages come, of course, from actually actioning any issues that arise. Being aware of strengths but not doing anything to maximise the potential of those strengths makes the whole process of being aware of them a waste of time. The same is true for all the issues raised by SWOT analysis - Weaknesses, Opportunities and the Threats.
Being aware is only the begining.
Ultimately it is action that make the different.
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