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 that prospective investors will read and it must be interesting and concise.
Most of them offer a wealth of well-intended suggestions about all the stuff you need to include in the executive summary. They provide a helpful list of the forty-two critical items you should cover, and then they tell you to be concise. Most guides to writing an executive summary miss the key point: The job of the executive summary is to sell, not to describe.
The executive summary is often your initial face to a potential investor, so it is critically important that you create the right first impression. Contrary to the advice in articles on the topic, you do not need to explain the entire business plan in words. You need to convey its essence, and its energy.
You want to be clear and compelling. Forget what everyone else has been telling you. Here are the key components that should be part of your executive summary: The Grab You should lead with the most compelling statement of why you have a really big idea.
Usually, this is a concise statement of the unique solution you have developed to a big problem. It should be direct and specific, not abstract and conceptual. If you can drop some impressive names in the first paragraph you should—world-class advisors, companies you are already working with, a brand name founding investor.
He or she may never get that far. The Problem You need to make it clear that there is a big, important problem current or emerging that you are going to solve, or opportunity you are going to exploit.
In this context you are establishing your Value Proposition—there is enormous pain and opportunity out there, and you are going to increase revenues, reduce costs, increase speed, expand reach, eliminate inefficiency, increase effectiveness, whatever.
The Solution What specifically are you offering to whom? Software, hardware, service, combination? You might need to clarify where you fit in the value chain or distribution channels—who do you work with in the ecosystem of your sector, and why will they be eager to work with you.
If you have customers and revenues, make it clear. If not, tell the investor when you will. The Opportunity Spend a few more sentences providing the basic market segmentation, size, growth and dynamics—how many people or companies, how many dollars, how fast the growth, and what is driving the segment.
You will be better off targeting a meaningful percentage of a smaller, well-defined, growing market than claiming a microscopic percentage of a huge, heterogeneous, mature market. Your Competitive Advantage No matter what you might think, you have competition. At a minimum, you compete with the current way of doing business.
Most likely, there is a near competitor, or a direct competitor that is about to emerge are you sufficiently paranoid yet?? So, understand what your real, sustainable competitive advantage is, and state it clearly. Believe it or not, in most cases, you should be able to make this point in one or two sentences.
The Model How specifically are you going to generate revenues, and from whom? Why is your model leverageable and scaleable?
Why will it be capital efficient? What are the critical metrics on which you will be evaluated—customers, licenses, units, revenues, margin? Whatever it is, what impressive levels will you reach within three to five years?1.
BUSINESS PLAN OUTLINE AND TEMPLATES We recommend a business plan that begins with a cover sheet, table of con-tents, and executive summary.
The main body of the plan should be divided into eight broad cate-. PUTTING YOUR BUSINESS PLAN TOGETHER 23 KEEPING YOUR BUSINESS PLAN CURRENT The statement of purpose is also called the mission statement or executive summary. If your Outline your current business assets and report your inventory .
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26 Elegant The Executive Summary Section Of The Business Plan. Business Plan Executive Summary For Startup Sample Of Ppt Template. This article is part of a series on how to write a great business plan..
The Executive Summary is a brief outline of the company's purpose and goals.. While it can be tough to fit on one or two. If you think a proposal's executive summary is really a summary, you're missing the point.
Here are six tips for turning your blah conclusions into an effective, well-substantiated pitch. by John Clayton Responding to a request for proposals (RFP) is pretty straightforward.
You describe your company.