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Knowing this information can help you evaluate how to set yourself apart, as well as how to compete with them. This is a useful question to ask if you’ve been in business for a few years before creating your business plan.
Don’t just look at personal strengths and weaknesses — look at the bigger picture.
While you go through this exercise, you may find what you can highlight (Strengths), how to improve (Weaknesses), what you can take advantage of (Opportunities), and what may stop your business from growth (Threats).
All’s well and good, but then a new video company open (let’s call them ).
If The Acme Video Company start working in the same area and targeting the same kind of local businesses as you for video work, then you have a competitor.
I’ve written a number of business plans for different businesses, including for my video production company.
Video Production Business Plan Template
These are the most effective methods that have worked for me.
It helps to analyze the general state of your industry.
The Strengths and Weaknesses focus on your potential video production company, while the Opportunities and Threats are an analysis outward.
Clients come in at a trickle until you’re well known and start getting referrals, and Mr Taxman always wants his piece.
Do you want to start up with an office for your video production company, or do you intend to try to keep overhead as low as possible, by setting up in your garage?