How to Use SOAR Analysis

Welcome to Mind Tools' video learning series.

To get ahead in business, you need a game plan. A strategy.

Successful strategies often come from identifying what you do really well, and doing it better! But that's only one part of the picture.

Inspiring your people, and tapping into their ideas and aspirations for the future of your organization, can be just as important.

This is where SOAR Analysis can be useful.

It stands for Strengths, Opportunities, Aspirations, and Results.

SOAR combines data and dreams, to help you plan for the future.

Begin your analysis by inviting people from across your organization, who understand its place in the market, to help you devise a new strategy.

Ask them to explore each aspect of SOAR, starting with Strengths.

Brainstorm the things that your organization already does really well. For example, what advantages do you have over your competitors? What are your unique selling points? And what do other people see as your strengths?

Next, think about Opportunities. Discuss how you'll make the most of your top 10 strengths.

You might see a chance to do this by moving into new markets, or meeting your customers' needs better, for example.

Then, it's time to throw off the shackles of raw data, and explore people's Aspirations!

What do you want your organization to be known for? How do you want it to be seen by others?

Use the list of your organization's strengths to identify what you and your customers really care about.

Finally, it's time to decide what Results you want to achieve.

What aspects of your organization and its processes do you expect to change, and how? What will your business look like once these changes have been made? What results do you want to achieve?

Prioritize your findings in a shortlist of goals that the organization should work toward. And develop your strategy further by analyzing the risks involved.

If you want to learn more about SOAR Analysis read the article that accompanies this video.