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.
Projected Financial Statements: These statements are usually helpful, but not necessary. You will develop and describe your strategies for the business throughout your Business Plan. In the financial section, you will need to estimate the financial impact of those strategies by developing projected Income Statements, Balance Sheets, and Cash Flow Statements.
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."
An effective Invention Business Plan is an inventor's best tool for efficiently navigating through the invention process. As an experienced inventor, I've learned that an idea is not perceived as a viable business opportunity until it can be effectively communicated on paper (or any other readable format).