For long term maintenance of competitive advantage, a firm must ensure that its methods cannot be duplicated or imitated. This requires constant analysis and regular reinvention of competitive strategies.
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).
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.
Starting a business, whether online or offline is not exactly easy. There are so many things to think of and so many things to do. You have to have enough resources, a good venue, a market to capture and enough workforce to start with. And as if you need more, you also have to worry about licenses, complicated paper works and other permits.