How to Determine If Your Creative Project Is Feasible

I consider this method a “secret” tool because, although it’s common in the corporate business world, it is almost totally unheard of when it comes to artists and designers using it to plan their projects or strategizing their creative business.

It’s called a “S.W.O.T. Analysis” and is used to help business and project leaders evaluate the favorable and unfavorable internal and external factors involved in making the project or business initiative happen. It starts by defining a desired end result or objective, then uses the following:

What are your or your company’s:
• S-Strengths
• W-Weaknesses
• O-Opportunities
• T-Threats.

At first glance, this may seem too left-brained for most artists and designers, but it actually releases you to think creatively and strategically in order to achieve your desired results.

Just think of it as a way to plan the next steps of the project that you’ve been daydreaming about and are excited about. A way to eliminate potential failure or spinning of your wheels.

To give you a better idea of this tool in action, take a look at an actual SWOT analysis from a real-live artist and designer team I coached not too long ago (the project is real, yet the names have been changed to protect the innocent!):

S.W.O.T. Analysis and Recommendations for: ACME Studios:

Objective-What is it that you or the organization wish to do?
Tom Smith and Jerry Jones wish to join forces as “ACME Studios” in order to publish their own comic book/graphic novel.

Strengths-Attributes of the person or company that are helpful to achieving the objective:
• Artistic and design talent of both of ACME’s partners (Tom Smith and Jerry Jones).
• Jerry’s immediate experience within the comics industry.

Weaknesses- Attributes of the person or company that are harmful to achieving the objective:
• Both partners are “Right-brained creatives” and are not as focused on the business logistics.
• Time management.
• Procrastination.

Opportunities- External conditions that are helpful to achieving the objective:
• Comic book characters are still relevant in mainstream entertainment (via movies and gaming industry).
• Internet and smart phone technology are lending themselves to comic publishing strategies.
• Local resources such as Big City Development are accessible as potential lenders if the Business Plan is sound and helps create jobs.

Threats- Internal conditions that are harmful to achieving the objective:
• Comics themselves are a niche medium.
• Print as a publication medium is on the decline.
• Comics are not a necessity and are relegated to discretionary income.

What would your results be if you did a SWOT analysis on yourself or your latest initiative?

 Share your thoughts below:

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