Knowing your strengths can help you provide more value and that can lead to more income.
Knowing your weaknesses can help you prioritize what you spend your time on, whether it is to learn more about something or delegate it.
Knowing your opportunities and threats can help ensure you maximize the talents you have.
While you can call it whatever you want, a SWOT analysis can be a fun, eye opening exercise for even the youngest members of your family. And it is a great way to learn about business.
Depending on your family, you could even allow siblings to offer their ideas to each other for the sections (or maybe just their “strengths” if you are concerned things could turn a little mean).
Use the following chart to look at one area of your life. It could be school, friends, family, fitness, money, or whatever you want to look at. There are instructions on page 2 if you need some ideas.