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I also said that a business plan consists of a narrative and several financial worksheets.

Business plans may target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe.

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.

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.

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