I. Contingency or Disaster Recovery Plan
Contingency and disaster recovery plans should be in place. A contingency
plan might be a detailed or broad outline of several plans of action
to proceed with if the original business plan is found ineffective.
Anticipate anything that could go wrong and have alternate options
and a written plan for such exigencies.
II. Product Performance and Commercial Results
Inventors normally draw up impressive and meticulous plans, but
falter when it comes to the execution. More often than not, no importance
is given to measure, analyze or review the actual performance or
results of an invention. Always assign individual or group responsibilities
with set milestones and deadlines. Have a system to continuously
measure, monitor and record the results. Conduct regular review
meetings and take quick steps to devise corrective measures or alternate
plans when required.
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