The Executive Summary is a brief outline of the company's purpose and goals.
The summary should run two to three pages in length, four at the most.
The executive summary, marketing plan, key management bios, and financial plan business plan sections are critical and should be included in all business plans. Additional sections can be added to these four when targeting specific purposes and audiences. The executive summary is a crucial part of the business plan. It is a synopsis of the main points of your business plan, highlighting the key features. This is usually the first part of your plan. A section of the business plan that identifies the potential risks that may be encountered by an investor. executive summary A section of the business plan that conveys a clear and concise overall picture of the proposed venture.
Because entrepreneurs usually send the executive summary to prospective investors prior to sending the whole plan, the summary must be written with great care and the ideas must be expressed with great clarity.
Excitement and Vision Entrepreneurs are enthusiastic, even passionate, about their ventures, and this must be conveyed to investors through the executive summary. Present your vision for the company with confidence. Give the reader a clear picture of why you believe your company has great potential for growth and profitability--which translates into a high return on investment for the investors.
The First Paragraph The paragraphs in the summary are like the chapters of your full plan--but you only have room to make one or two key points in each paragraph.
In the first paragraph, describe what products and services you offer, what markets you serve, and where your company is located. There can be no confusion here about what exactly your technology does or how customers will use it and benefit from it. Talk about the stage of development your company has reached and major accomplishments or milestones.
Even a pure start-up venture may have reached development milestones that make it seem more real. Market Need Building a successful company requires more than an idea for a good product, or multiple good products.
Success comes from identifying a critical, urgent customer need and providing a solution that is significantly better than any others available to the customer.
A critical need motivates a customer to action--spending money on your product or service. Having a significantly better solution makes the sales process easier. The customer can more readily see why they will benefit from what your company is offering.
Target Markets Describe the target markets you have selected and why you selected them. The more specific you are about who your customers are or will be, the clearer understanding the reader will have of your sales strategy--how you intend to reach these customers.
Competitive Advantages Your competitive advantages are of particular importance to investors, but expressing them in the limited space of an executive summary is difficult. Think of a sentence that begins: Management Team Prior business success is considered a reliable indicator of future success.
Express the most significant accomplishments of each member of your team, using action verbs such as created, increased, or built rather than just providing job titles or previous positions.
Financial Summary The investor wants to know how much capital you need and how the capital will be used, the three or four largest expenditure categories. Also include a table with the most basic financial projections for the next three to five years, revenues, cost of goods sold, operating expenses and pretax profit.
They will see more detailed projections in the full business plan, which they will request because they are impressed with your executive summary. References 1 Small Business Administration:A section of the business plan that identifies the potential risks that may be encountered by an investor.
executive summary A section of the business plan that conveys a clear and concise overall picture of the proposed venture. Resist the temptation to pad your business plan’s executive summary with details (or pleas).
The job of the executive summary is to present the facts and entice your reader to read the rest of the business plan, not tell him everything.
The first part of your business plan that anybody will see is the executive summary. It’s a brief look at the key elements of the whole plan—and it’s critical. The executive summary should. Here’s how to write an executive summary that sells. I have written, edited, or managed the creation of what feels like a gagillion business proposals in my career, and 90% of the time I had a feeling of dread throughout the whole process (this was obviously in the dark ages before Proposify existed).
This section of the executive. One section of the business plan that is often neglected is the _____. A) Opportunity Analysis and Research B) Management and Operations The Executive Summary contains the _____.
A) Management strengths B) Funding request C) Story of the business D) Competition details. The executive summary is the first section of your small business plan that is typically written last.
It provides an overview of all of the other sections in the business plan.
The length of the executive summary does not need to be overwhelmingly long.