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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).

Financial Projections : If you are planning on borrowing money then this is a very important section. If you are already in business and have a track record of earnings you can include that here. You can then extend out to the future based on your previous growth. The key to a successful business plan is to include all of the information that is pertinent but no extraneous information. It should be clear and to the point so that even someone who is not familiar with the woodworking industry can follow it. If you want to learn everything you need to know about starting your own Six Figure Woodworking Business pickup your free "Start Your Own Woodworking Business".

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."

A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.

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