Develop an innovation plan.
An Innovation Plan is the written document that details the proposed innovation and its commercial potential as a venture. It must describe current status, expected needs, and projected results of the new concept. Every aspect of the venture needs to be coved: the project, marketing, research and development, manufacturing, management, critical risks, financing, and milestones or a timetable.
A description of all of these facets of the proposed venture is necessary to demonstrate a clear picture of what that venture is, where it is projected to go, and how the innovator proposes it will get there. The innovation plan is the road map for a successful enterprise.
Your innovation plan should contain the following:
Describe every aspect of a particular innovation
Include a marketing plan
Clarify and outline financial needs
Identify potential obstacles and alternative solutions
Establish milestones for continuous and timely evaluation
Serve as a communication tool for all assessment purposes.