said 5 months, 3 weeks ago:
Right, so location, financial strength, reputation, customer base, etc are internal – they are things that are inherent to you that you have control of and can impact their improvement or decline. Same with bad habits, poor judgement…
External would be threats such as the competition has a new product or a new marketing strategy, the general economic climate, the weather (Sandy for example); or opportunities such as the competition has dissatisfied customers, you are unique in your market segment or someone goes out of business leaving you alone in the sector, a global event that makes your product desireable… these are things that you have no control over but you can take advantage of or need to protect against.
As you said, everyone has their way of working a SWOT analysis, but this is the classic interpretaion.