A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
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."
No matter how great your idea is, most people expect that you have it written down. When I was new to inventing, I had no idea what that meant. I searched around but didn't find any universal format for documenting my ideas.
Estimated Manufacturing Cost: The ideal situation is to contact manufacturers to get a price quote of how much it would cost to build your invention. But this can be difficult if you don't have exact specifications. The other suggested general rule is to divide your Suggested Retail Price by a factor of 4. For example, if your suggested retail price is $80, then your Estimated Manufacturing Cost is $20.
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