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.
Describe your most important company strengths and core competencies. What factors will make the company succeed? What do you think your major competitive strengths will be? What background, experience, skills, and strengths do you personally bring to this new venture?
No matter the economic slump, increasing profits is typically the number one goal of any business. To ensure profitability, a company must demonstrate a competitive advantage over others in its industry, either by cost leadership (same product as competitors, lower price), differentiation (same price, better services), or focusing on an exclusive segment of the market (niche).
In this article, I discuss how to develop a versatile yet compelling business plan for inventors and their inventions. I explain its importance, main elements, how and where to find content, and its many uses. I also provide real examples adapted for three common purposes: for filing a provisional patent, for entering into an invention hunt, and for submitting to other key users. Other key users may include retailers, manufacturers, industrial engineers, investors and licensing agents.
one page business plan template
business plan format