The executive summary of your business plan is your first chance to convince readers of the viability of your business and it may also be your last chance. If the executive summary, a one or two page section that opens your business plan, does not hook readers, it is unlikely that they will read any further. Here are some tips on how to be sure your executive summary will serve its purpose:
Make It Complete
The executive summary should be complete in the overview it presents of the entire business plan. This means that every section (as each section is important to the overall argument the plan presents) should be summarized in a paragraph or so. The main thrust of each section should be included, such as the customer segments you will target, the competitive situation you face and the competitive advantage you will create. If a step is left out, readers will be left to puzzle and probably assume you have not thought it through.
If any aspect of the plan is a bit unusual - for example, marketing to a niche which many people aren't aware even exists - then this deserves some additional time. Include citations to reports or statistics from reputable sources when possible.
Make It Concise
The executive summary should have any redundancies and unnecessary language removed. It should fit within two pages and even one page if possible. To be sure that the summary is as concise as possible, read it over a number of times with trimming in mind and consider how to cut it down without losing the flow or content within.
Make It Formal
The executive summary should use the same formal, professional style as the rest of the plan. It should not sound like the cliche of a bad used car salesperson. Investors will be convinced by the logic of the argument, the opportunity you've spotted, and the talent of your management team, and not by your pushiness.
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5728 or complete the form below.
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