How Business Plans Work

The Market: Strengths & Weaknesses


It's a jungle out there. What is your edge? Expound on your strengths and any elements of your strategy that will give your product a better chance in the market. For startups, this is a section where you really need to have done your homework. If you're an existing business and already have a foothold on a part of the market then this is the section where you can boast! Explain the particulars of your business that have gotten you where you are, such as your marketing plan, exceptional customer service, or your introduction of new, innovative products.


Now for the flip side, as hard as it may be, describe the weaknesses your company may have in the market. This may be as fixable as not having enough sales staff, or not having a company web site. Also note any weaknesses inherent to the market itself. This may not be as easily "fixed" but keep in mind that your competition must deal with it as well. Also remember to note any possible threats to your product such as regulatory issues, or environmental concerns.