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An executive summary is, as the name suggests, the summary of your business plan. Well, not only business plan, it can be of any report, proposal, manual or any kind of document.
And if you are new to this, please read about the business plan first here: Everything You Need to know about business plan. An executive summary highlights the key parts of your business plan; the introduction, company goals, marketing strategies, financial projections, team and probably few other important things.
Keep it short and concise, not vague. It can range from one page to a maximum of pages. It depends, but more than pages is considered longer.
More shorter, the better. The goal is to use minimum words to convey the key information and compel the investors to read further. Imagine you are inside an elevator with an investor.
You have his full attention and he is ready to listen to what you have to say about your business. But the problem is that the building is not that tall, and you have just few minutes around minutes. Now, convince the investor that your business is going to flourish and has a very good chance of surviving in the competitive market within that 2 minutes, of course.
So, what would you say in that time you get? You must boil down your complete business plan to few essential key points which you can communicate to the reader in just a matter of 2 or 3 minutes. Then you can correctly summarize it. Why do you need an executive summary?
So, what they do is just read the executive summary or allow someone else to do it for them. After reading the summary, if it qualifies for further reading, only then do they read the further sections of the plan.
It also serves another purpose for the entrepreneur who is writing it. What must a good executive summary contain? A good executive summary does not contain anything more than the key points of the business. It is better to divide the whole summary into three sections: How do you start it?
Executive summary must be highly persuasive, from the opening words to the ending words. The introduction part must persuade the readers to read the rest of the summary. You can also start it by defining an actual problem and providing your solution to it.
Prove that your solution is unique and has good potential in few sentences. The bottom line is that, in the opening sentences, show that you have the chance of surviving and thriving and making profit in your competitive industry.
In the body section, discuss the essential points of the major sections of the plan. Use bullets and sub headings wherever required. Provide key information about the following: You just need to touch the sections and provide compelling points, keeping it brief.
Conclude the summary with what you plan to do with the money and the future developments of the company. What should you avoid? The most important thing you have to avoid is thinking that the purpose of executive summary is getting you the capital money.
So, keep that in mind all the time.Jolly's Java and Bakery bakery business plan executive summary. Jolly's Java and Bakery is a start-up coffee shop and bakery.
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. Jul 08, · Let Kyle Murphy, an Entrepreneurship Lecturer at Pepperdine University, teach you everything you need to know about your business income .
The executive summary is the most important section of a business plan in terms of getting your plan read by funders. Inundated by hundreds of plans, investors and lenders rely on the executive summary, a one or two page summary of the entire business plan, to know if the rest of the plan .
A good executive summary is the holy grail of good business plan writing. Even though it comes after you’ve written and thought through every other facet of your business, it is arguably the most important part of the puzzle.
The executive summary is the most important section of the business plan for your mobile food business; it tells your readers why you think your business idea will be successful. In this section of your plan, you provide a detailed overview, along with a history of your company and where you want it.