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How to Write an Executive Summary That Gets Your Business Plan ReadUpdated on October 13, 2022 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. Which part of a business plan is a description of the key strategic influences of the business?A mission statement is a description of the key strategic influences on the business, such as: All answers correct: -the market it will serve.
What section of the business plan describes the business?What goes into your business plan's executive summary section? In the first paragraph, the executive summary should include a description of your business and the customer problem being uniquely solved so the reader understands what you are trying to achieve.
Which part of your business plan should include a description of how the business will run administratively milady?Mission Statement. A description of the key strategic influences of the business, such as the market it will serve, the kinds of services it will offer, and the quality of those services. Organizational Plan. Outlines employees and management levels and also describes how the business will run administratively.
What is identified as the list of key sections of the business plan quizlet?Executive Summary. ... . Description of Business. ... . Description of Products and Services. ... . Description of Management and Organizational Structure. ... . Sale and Marketing Plan. ... . Financial Plan. ... . Production Plan. ... . Implementation Schedule.. |