Businesses need to have good business plans to kick start their businesses as well as to stay in business. A good business plan gives the company its direction and focus on its mission and vision for profitability and continuity.
A good business plan usually employs the SWOT analysis which encompasses the Strengths, Weaknesses, Opportunities and Threats as foreseen on impacting the business. The business plan should be comprehensive in applying SWOT analysis. This is a highly popular business approach in the business world that considers the various important sections of the business’s functionality and to reduce risks and dangers to the company’s survival.
The business plan that uses the SWOT analysis helps to identify the business objectives, mission and vision for a clear direction of existence and progress. A company is not set up overnight or to be a ‘fly-by-night’ operation. It encompasses capital, investments and resources to make the business 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 differently written for different types of businesses; it can even be different for different companies of the similar types of business. The business plan using the SWOT analysis needs to study each enterprise carefully to identify its own strengths and weaknesses, challenges and approaches.
Consider the attached sample template for your convenience.