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.
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.
Detailed Description: This is where you describe the main parts or components that make up your invention, how your invention works or what it does, its main features, and method or intention of use. An example of main parts may include a container with lid, a motor for spinning, etc.). Examples of main features may include dishwasher safe, automated functionality, ease of use, etc. And, method of use examples could be: step 1, press red button to turn on, or pull white knob to make it move.
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."
one page business plan template
business plan definition