How to Write an Executive Summary That Gets Your Business Plan Read Show
Photo: CP Cheah / Getty Images An executive summary of a business plan is an overview. Its purpose is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content. Think of the executive summary as an advance organizer for the reader. Above all else, it must be clear and concise. But it also has to entice the reader to read the rest of the business plan. This is why the executive summary is often called the most important part of the business plan. If it doesn’t capture the reader's attention, the plan will be set aside unread - a disaster if you've written your business plan as part of an attempt to get money to start your new business. (Getting startup money is not the only reason to write a business plan; there are other just-as-important reasons.) NoteBecause it is an overview of the entire plan, it is common to write the executive summary last (and writing it last can make it much easier). What Information Goes in an Executive Summary?The information you need to include varies somewhat depending on whether your business is a startup or an established business. For a startup business typically one of the main goals of the business plan is to convince banks, angel investors, or venture capitalists to invest in your business by providing startup capital in the form of debt or equity financing. In order to do so you will have to provide a solid case for your business idea which makes your executive summary all the more important. A typical executive summary for a startup company includes the following sections:
For established businesses the executive summary typically includes information about achievements, growth plans, etc. A typical executive summary outline for an established business includes:
How Do I Write an Executive Summary of a Business Plan?Start by following the list above and writing one to two sentences about each topic (depending on whether your business is a startup or an established business). No more! The Easy Way of Writing OneNoteHaving trouble getting started? The easiest way of writing the executive summary is to review your business plan and take a summary sentence or two from each of the business plan sections you’ve already written. If you compare the list above to the sections outlined in the Business Plan Outline, you’ll see that this could work very well. Then finish your business plan’s executive summary with a clinching closing sentence or two that answers the reader’s question, “Why is this a winning business?” For example, an executive summary for a pet-sitting business might conclude: “The loving on-site professional care that Pet Grandma will provide is sure to appeal to both cat and dog owners throughout the West Vancouver area.” (You may find it useful to read the entire Pet Grandma executive summary example before you write your own.) Tips for Writing the Business Plan’s Executive SummaryThe Balance
Remember, the executive summary will be the first thing your readers read. If it's poorly written, it will also be the last thing they read, as they set the rest of your business plan aside unread. The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy.
Which section of the business plan focuses on the specific segment or target market of an industry to which the firm will try to?In the marketing strategy section of your plan, you'll address issues such as: Identification of your target buyers. The market segment in which you'll compete. The reasons why the product or service you offer is unique.
What is described in the market section of the business plan?The market analysis section of your business plan comes after the products or services section and should provide a detailed overview of the industry you intend to sell your product or service in, including statistics to support your claims.
Is a section of the business plan which breaks the industry into segments and zeros in on the specific segment or target market to which the firm will try to appeal?The market analysis breaks the industry into segments and zeros in on the specific segment (or target market) to which the firm will try to appeal.
Who is the target audience for a business plan?Your target audience refers to the specific group of consumers most likely to want your product or service, and therefore, the group of people who should see your ad campaigns. Target audience may be dictated by age, gender, income, location, interests or a myriad of other factors.
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