Every business requires a good business plan to stay in business as the business plan directs its business path. A business plan keeps the company focused on what needs to done and how it should be done, as it analyses the various aspects of the task using the SWOT analysis.
SWOT analysis considers the Strengths, Weaknesses, Opportunities and Threats that can impact the business as the plan is brought together. Much thought needs to be included in a business plan by applying SWOT analysis. This approach saves the company money and frustration as all aspects of the business are covered to eliminate or reduce possible risks.
With the SWOT analysis, a business plan must identify the objectives of the business with its mission and vision statements. It should list the capital and resources that will make the plan a success.
A business plan template can contain the following types of information:
* Company Name & Address
* Mission & Vision Statements
* Objective of business plan
* Shareholders / Stakeholders
* Capital Required
* SWOT analysis
A SWOT analysis is a good feasibility study to check out the workability of a business plan before implementation. It may take a bit of time but it is worth it, as it saves more than time and money in the long run. A prudent and wise business owner will consider a good business plan before implementation.
Consider the attached sample template for your convenience.