Location and Facilities optional 1. Company Overview There are many variations and approaches on how to lay out the various components of a business plan.
Biz Plans How to write a business plan Every business should have a business plan. This document is your road map to the future. It will help you define the direction you want your business to take.
Decide what should go into the business plan. Your plan should include information on your company, product or service, customers, market, competition and involved risk.
Write an executive summary. This is the first section of the plan and should be a brief description of all the elements covered in the rest of the plan. It should be no more than two pages long.
Talk a little about yourself and your management team. Spell out the purpose of your business. Explain your product or service. Provide details about how you will make it or provide it. Analyze the costs associated with this process.
List your supply sources. Discuss general trends in the industry. Include details about the market segment you are pursuing and the niche you are targeting.
Mention competitors in your market. Talk about your target customer. Provide demographics on your customers. Explain their buying habits. Describe your marketing plan. Explain how you will push sales through advertising, promotion, and public relations. Analyze and document how much this will cost.
Detail your financial projections.Eli Whitney's Patent for the Cotton Gin Background Eli Whitney and the Need for an Invention. As Eli Whitney left New England and headed South in , he had no idea that within the next seven months he would invent a machine that would profoundly alter the course of American history.
A business plan lays out the steps you plan to take to make a business grow. Although registering a copyright for a business plan is not required, registration can help protect your business plan from plagiarism or unauthorized copying.
If you have created a new business method that you want to protect, consider getting a patent on the. The short answer is no, says the head of the U.S. patent office, but you can patent specific ways of doing business.
And that, he contends, is a good thing for innovation. What is a utility patent? When inventors talk about patents, they're usually referring to utility patents. This is because utility patents cover the most common categories of invention: they're granted for inventions that produce a new and useful result (as opposed to design patents, which protect purely ornamental designs on useful objects).
In international law and business, patent trolling or patent hoarding is a categorical or pejorative term applied to a person or company that attempts to enforce patent rights against accused infringers far beyond the patent's actual value or contribution to the prior art, often through hardball legal tactics (frivolous litigation, vexatious litigation, strategic lawsuit against public.
This article is part of both our Business Startup Guide and our Business Planning Guide —curated lists of our articles that will get you up and running in no time!. If you’ve reviewed what a business plan is, and why you need one to start and grow your business, then it’s time to dig into the process of actually writing a business plan..
In this step-by-step guide, I’ll take you.