Competitive Analysis: Business by nature is competitive, and few businesses are completely new. If there are no competitors, be careful; there may be no market for your products. Expand your concept of competition. If you plan to open the first roller skating rink in town, your competition will iManagement and Operations: Because management problems are the leading cause of business failures, it is important to discuss management qualifications and structure. Resumes of the Principals should be included in supporting data. If your business will have few employees and rely heavily on outside professionals, list these key people and their qualifications. If you are seeking financing, include personal financial statements for all of the principals in the supporting data section.
Business Description: After the executive summary, you need to write a short description of the business you are going into. You need to give a general description of the industry your business belongs to. You will write about your company's mission statement, goals and objectives, business philosophy, as well as its legal form of ownership (sole proprietor, corporation, LLC, etc.)
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.
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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