Contrary to popular belief, a marketing plan is not a effort destined to sit in a binder on your desk.
On the contrary, it should be updated on a regular basis to reflect the changing needs of your business and customers.
Opportunities are ways for your business to grow and be more profitable.
These can include seeking new markets, managing technological change or addressing new consumer trends.
Weaknesses are the factors that reduce your company's ability to achieve its objectives independently.
Examples include unreliable delivery, outdated production tools, insufficient marketing efforts and a lack of planning.
This builds confidence within financial institutions that your business has growth potential.
It's also important to understand exactly what motivates customers to buy.
A marketing plan without financials has little clout.
Financials can also be included in a general business plan.