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In setting up a business you need to have a marketing plan or strategy in order to manage your costs and expenditures. You should consider your objectives in opening your business acknowledge the details and specific aspect of the market industry you'll enter. Also have the SWOT analysis of Albert Humphrey done to be more sure and accurate to the decisions you'll be making whether your company is owned only by you or it is incorporated with some associates. What is SWOT? It is a strategic plan for you to know your business strengths, weaknesses, opportunities and threats. You should know very well your advantage over other companies with your same industry, that is your strength. Your weakness would be the same character you have with others. Opportunities, is the chance that you can expand your business and threats would be if your business will be patronized by people or not and if competitors are much more good than you. The use of this SWOT analysis is a big help for your business because not only it will help you but will encourage your employees to work harder because they know that they are working in a company that has a good direction and won't fall apart easily. Analyzing SWOT is essential to your business because it helps prepare available instructions for the whole operation movement of the company. The marketing business plan is your step by step guide for your company to be successful. The entire structure of your company is assessed that every portion is working doing good and effectively. It also secures the status of your company for the future, it also helps you to have an organized marketing strategy for your business. It will help you to form an asset that would return your sales and investment cost, profits. It will help you manage over head expenditures and costs. Most of business owners now do this kind of analysis so they could come up to a good management cost which controls their expenses. What is management cost? It is a method by which a body of people or board of directors plans and controls the costs of the business. Projects definitely needs a customized management cost plans, and as a whole company it should be studied and made accordingly. This has a huge scope broad explanations and applications.If implemented strictly and properly,management cost will interpret the decreased price paid of produced services, products and labors, also high volume of value being given to a client. For an organizations management cost to be persuasive and effective, cost management must be an important characteristic of it. It is the most easiest way to comprehend, appreciate and understand this idea if it is said cleared in the text of a project. For example in a situation, ahead of time a project would begin, the prediction of costs should be labeled, identified, known and measured accurately. These costs and expenses then shall b agreed and approved before or earlier any purchased products occurs. Concurrently the process of finishing a project, every costs should be described one by one and should be kept in hold of a record, to guarantee, secure and ensure that the amount paid are administered and controlled and kept or maintained in line with primary expectations.