Day One of Project

I finished and finalized my schedule of my plan for the next eight weeks. I plan to read my book, Invent Yourself Rich, first so that I can use the knowledge that I gather from their to help me in the future with my business plan. Now, when writing a business plan there is a lot more that one may think that goes into it. I am planning on separating it into approximately eight parts, which include:

Cover letter

Executive Summary

Overview of the Business

Industry

Company

Customers

Competitors

Operations

Tech. & Equipment

Facilities & Layout

Management Profile

Personnel Profile

Marketing Plan

Competition

Customers

Service/Product

Pricing

Promotion

Distribution

Sales Plan

The Sales Team

Sales Management

Sales Policies

Sales Projections

As well as my Cash flow statement and my Balance sheet. Now, I also read the first 25 pages of my book on inventing. Now the main ideas that were discussed in the first parts of the book is the theory of inventing and acting fast upon an idea. Because at least in my case I always seem to have an idea and a year or so later it is on the market making millions. By learning about simple ideas and advice/ quote he has included at the beginning has already seemed to hook me. The biggest thing that I learned was how important it was to not buy a 10-20 thousand dollar paten right away but rather spend that money to build and sell your product before protecting something that may not ever take off. Overall, through this book so far I have already started to gain different pieces of information that will have an impact on my idea.