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Stakeholders Needs Analysis – the poor relative of SWOT

Strategic planning is often described as planning a road-trip. Using this analogy, just as your car GPS will firstly identify your current location, once you have decided where you want your business to go (your Dream Goal) the first step is to identify where it is now.

SWOT analysis is a well-known, tried and tested way to do this, but there is another perspective that is worth practicing - Stakeholders Needs Analysis.

The goal is to identify the most important needs of the most important stakeholders in the organisation, that are the least satisfied. These will enable you to identify what to focus on going forward, as what else does an organisation need to do other than satisfy its stake holders?

Here are the steps:

1. Identify all the stakeholders – owners, employees, families, clients, vendors, etc.

2. Select the most important ones

3. Identify all their needs

4. Select the most important needs

5. Estimate to what level these needs are currently satisfied

6. Select the needs that are least satisfied

7. Decide what actions you need to take to increase the level these needs are satisfied

8. Create an action plan

9. Implement it

10. Rinse and repeat

As creative as you may be there is nothing better than crowd wisdom so if you have a team, it is best to this with them. The results will surprise you.

In the video, a TED Talk by @Lior Zoref about dreams and crowd wisdom. Watch until the end.

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