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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.

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."

When there exists a broad belief that spending beyond necessity is unwise, people will change their habits and as a result, some businesses will have to close their doors. The economy is molting into a new, leaner animal. Rather than react in desperation to avoid doom, firms should interact with the current situation with innovative and forward thinking actions.

Suggested Retail Price: Base the suggested retail price on comparable market prices and other relative assumptions and factors. For example, if the invention combines the task of two or more existing products on the market, provide the cost of using those products separately and then demonstrate how your invention is priced such that it saves the consumer time and money. A good example is a food processor. You would provide the cost of knives, cutting boards, and the time it takes to cut everything. Whereas your invention, the food processor, is priced less than all of those things combined, plus you have the added value of convenience and time savings.

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Business Plans Example


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