Business Plans

Question 1

What is a business plan?

Answer 1

A business plan is a document containing
1. the goals of a business,
2. the methods for attaining those goals,
3. time-frame for the achievement of the goals.

Question 2

What is a SWOT analysis?

Answer 2

Framework for identifying and analysing an organization’s strengths, weaknesses, opportunities and threats.

The primary goal of a SWOT is to increase awareness of the factors that go into making a business decision or establishing a business strategy.

Question 3

Please can you give an example of when you have used SWOT analysis

Answer 3

Team strategy day
A strength - doing a lot of networking and reaching out to clients
Weakness- not having enough people to undertake all the valuations we would like to do
Opportunity - a lot of lenders requiring loan security valuations
Threats - losing existing clients due to valuer rotation