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Basically, consumers are hunkering down to limit spending, save money, conserve resources, and change the way they've been living. The major influence on the health of an economy is the psychological state of its consumers.

Location: Writing down the location of your business is very important. Locations with greater customer traffic usually cost more to buy or rent, but they require less spending for advertising to attract customers. This is especially true of retail businesses where traffic count and accessibility are critical.

Executive Summary: The first step involved in writing a business plan is the executive summary. Here, include everything that you would cover in a five minute interview.

Invention Business Plan Example: The Main Elements : Many different readers and audiences need to see your idea in writing. You will be surprised how many different questions will be asked about your invention. In order to efficiently answer such questions, the document should be designed such that it serves as a detailed yet practical guide and resource to be used by a broad audience. Thus, the elements and content of your plan should be both comprehensive (i.e. can answer most questions about your invention) and adaptable (i.e. can be easily modified) for the purpose of a specific use or audience.

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Creating A New Business Plan


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