Before developing the Business Plans needed for your company to ultimately achieve your Company Vision, you need to assess your company’s strengths, weaknesses, opportunities and threats (Company SWOTs). One of the reasons for writing your Company SWOT Statements is to help you identify the elements in your Company Vision that may not be realistically attainable. Identifying your Company SWOTs will also help you to recognize what challenges your Company needs to overcome as a result of limitations that currently exist.
As a business owner, you already possess in your head most of the information needed to create your SWOT Statements. You know what is happening in your business and your industry, and no doubt you probably attend national trade meetings and read trade magazines. Putting the information that exists in your head into writing will help you prioritize and focus on what is most important.
When developing your Company Business Plans you will make use of the answers you give to the following SWOT questions.
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