Business plans are essential for even the smallest of companies. We have developed a framework that will assist you in articulating your organization’s mission, as well as its goals and strategies for achieving milestones.
The executive summary is an essential component of the organization’s overall plan. Since the executive summary is the first item that investors look at, it must be clear, short, and compelling.
You need a compelling executive summary to interest anyone in reading the rest of your business plan. The purpose of this part, the topics that it should include, and the best way to write a summary are all quite important.
The aim of a summary executive
Your business plan’s executive summary serves as a sneak peek for potential clients and investors. Investors use executive summaries to determine whether or not to study the complete business plan. It is rare for investors and lenders to thoroughly review a company plan at the research and fundraising stages. This is, in essence, a long-winded version of your abridged version.
The substance of the executive summary
Although this is the first page, save this section for last. This assists you in deciding which sections of the paper ought to be incorporated into the document’s executive summary.
Because the objective of a business plan is to persuade the reader to invest in the company, the executive summary needs to demonstrate the rationale behind this proposition. It is everything contained on a single page.
Begin with the following specifics:
- What kind of a need does your company have, and how do you plan to meet it?
- Who are your typical clients?
- What would your company sell, and why would customers be interested in purchasing it?
- What are your plans to increase awareness of these goods or services?
- Who will you be competing against for a share of the market? What do you provide that they don’t, and how is it better?
- How do you intend to handle the finances and revenue generated in the first year?
- Who are the proprietors and employees, and what are their areas of expertise and credentials?
- How do you intend to turn a business idea into a functioning company?
To approach it from a different angle, you might find it helpful to organize the information presented above into the following distinct categories:
- What sets your company apart from others, and what is its primary goal, as articulated in its mission statement?
- Information about the company, including but not limited to: the types of goods or services it sells, the length of time it has been in business, the names of its owners and key employees, and the number of business locations it oversees.
- Notable Events in Business: What have the results of your evolution been, and how have you improved your market share, revenues, and client base?
- A summary of the finances: What is the current and future state of your finances, and do you require the assistance of an investor to grow your business?
- Goals for the Future: In what ways may this monetary investment be used to accomplish other goals or projects?