SWOT is a business analysis - get some paper and split the page into four boxes, i.e. draw two lines, one middle to bottom, one side to side - in each box now put... strengths weaknesses Opportunities Threats - then in each box make some bullet points of your strengths in the market, define your weaknesses and think of some market opportunities to exploit, also then think about your threats to pulling it off - i.e. copyright laws and so on... money/ budget etc etc use this list to define the areas you need to work on and achieve to go forward.
SWOT analysis (alternately SLOT analysis) is a strategic planning method used to evaluate the trengths,Weaknesses/Limitations, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The technique is credited to Albert Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.
SWOT is a great way to get your business going and is used for internal (Strengths, Weaknesses) and external (Opportunities, threats) analysis.