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Fortunately, with my entrepreneurial background and experience writing business proposals, I was very familiar with answering such questions. Therefore, to save time, I decided to consolidate all of these questions into a universal format that could be used and/or adapted for any audience within the invention process.

For an online business, a detailed and in depth business plan is usually not necessary unless you are trying to combine your online business with a traditional business. For most online business startups, the detail involved with planning a traditional business is not required. However, it would still be beneficial to you if most of the topics were still covered, even if only briefly. Having a written plan in front of you will help you to focus on important aspects of the business.

Personnel: The success of any company depends on their ability to recruit, train and retain quality employees. The amount of emphasis in your plan for this section will depend on the number and type of employees required.

The analysis goes on to say, "Those diminished expectations - plus the pain of the current downturn - are fueling retrenchments in consumer behavior that could fundamentally reshape the economy."

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