Did you search "swat business plan"? Unless you're looking for information about who runs the Special Weapons and Tactics units (SWAT) of law enforcement agencies, you probably meant to search "SWOT," or Strengths, Weaknesses, Opportunities, and Threats. The SWOT analysis is a common part of a business plan, though it is less relevant for start-ups than for existing businesses and, in some cases, it is premature to include it in the document. But if you plan to seek expansion capital or you're entering a market niche that is highly competitive, it can be a worthwhile exercise to try to put “pen to paper†about the different threats you'll face, the opportunities you see going forward, and so forth. A good SWOT should:
• Identify the core risks your business will face going forward
• List out the major competitors and their strengths
• Try to pinpoint the benefits you have and the opportunities you can exploit
• Make a summary statement about your positioning
The SWOT analysis is of course just one part of the business plan. A complete document needs to show much more than just the SWOT. It needs a complete list of your services, the market for those services and who the target market segments are, a section detailing the market needs, and a profile of the industry in which you compete and the major players already established in your market. It also must include a marketing strategy, an exit strategy, and a management team summary with a full personnel plan. Do not neglect a pro forma financial model either, as all banks and investors will want to see your estimated performance for a period of at least 3-5 years. Call MasterPlans if you need help writing the business plan or want to talk about how a SWOT analysis factors in: 877-453-2011.
