The main goal of an executive summary is to make even the most technical paper readable and understandable. An executive summary is also used as a basis to understand complex reports or papers through its context and information. Importance of Business Plan In this guide, we will focus on writing an executive summary of a business plan. Although they have the same objectives as those which are used in different fields, they still have to be well-written and informative, as all executive summaries should be.
Even though it comes after you have written and thought through every other facet of your business, it is arguably the most important part of the puzzle.
As its name implies, the executive summary is a brief overview of your business plan. Call it an introduction to your business and you would be very right. Even though the executive summary is the first thing that the readers of your business plan will go through, you should write it last because it summarizes everything from that start to the end of your business plan.
Also, it is usually the first and probably the most important thing that busy investors consider before deciding if your business plan is worth spending a minute on.
Below is a list of what your executive summary should include: Marketing and sales strategy: It should equally state your competitive advantage. An overview of funding requirements: Writing a business plan executive summary is not that difficult, you only need to include the summary of the details that were listed above.
You executive summary should be arranged this way; The intro You can start by describing your company, your mission and vision statements. Include your business name and address. If you are lost for words on how to describe your company, think about how you want your employees, customers and the business community to view your company.
This intro paragraph should be attention-getting from the start. It is wise to bring in impressive attributes of your company, but be specific here. Potential investors will want to see real evidence of demonstrated skills and unique abilities.
Use this section to highlight company or employee accolades, albeit briefly. Describe the organizational structure and name key employees.
Include a list of satellite offices, contact information for each location and how many employees would work in each location. Your business offering Write a description of what your business aims to offer to its target market. Here, you should give a description of the product or service the business expects to offer.
Highlight the products or services in a way that sounds appealing and sets you apart from the competition. The aim of the executive summary is to intrigue the reader enough to read what the rest of the business plan holds. Your finances This section is where you now talk about the financial aspects of your business.
Disclose all business partners, investors and banks you have business relationships with. Explain the role of each entity or individual, the amounts invested or financed, and fiduciary terms and responsibilities.
If you are proposing your business plan to additional lending institutions or investors, this information can strengthen your plan by illustrating confidence others have in your ability to operate a successful business.
This section should also include sales and profit projections for the business. You are free to use charts or graphs to reflect this information if it would provide more insight than texts.
For example, you can start by stating a market problem that your business promises to fix. So, keep it short. The business plan itself will provide the details.
Use strong and positive language. Although there is no standard page length for executive summaries, it is better to keep it within two pages. Remember, the summary is meant to present facts about your business and entice the reader to read the rest of the plan. Fine-tune your executive summary after writing it.
Read it aloud to yourself. Does it sound great to you? Does it sound clear and brief, but detailed?Overall, an executive summary is a quick overview of your business plan as a whole.
It should be concise but it should also be able to clearly explain the goals and objectives of the plan. Additionally, it should be written in a professional manner and be able to express and answer the needs of the readers.
The Executive Summary of your business plan is the last thing you write, the first thing your reader sees and the easiest piece of the document to put together.
However, it is also the most important piece, because it entices the reader to read the rest of the document. An executive summary serves as a brief introduction of the business plan.
It introduces the project, its objectives, the process to be undertaken, etc. It does not only list the key points but also provides a concise yet thorough explanation of the business plan. Even though the executive summary is the first thing that the readers of your business plan will go through, you should write it last because it summarizes everything from .
How to Write an Executive Summary: The Length Remember, every executive summary is--and should be--unique. Depending on the size of the business plan or investment proposal you're sending, the.
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The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business.