9/17/2021 Tip: Focus on the ES

Today’s Quote

“There are two types of people who will tell you that you cannot make a difference in this world: those who are afraid to try and those who are afraid you will succeed.”
~ Ray Goforth


Today’s Tip

An executive summary or ES of a business plan gives the reader an overview of the business opportunity and your entire business plan.  It explains the type of business the company operates and summarizes the key facts and strategies supporting the businesses growth. If presented for funding, the executive summary provides the lender or investor a quick snapshot which helps them determine their interest level and if they should continue reading the rest of the business plan.

An effective executive summary is a quick version of your complete business plan. You need to keep it simple and succinct in order to grab the reader’s attention and convince them it’s in their best interest to keep reading.

Too many great businesses are never funded since the entrepreneur doesn’t make the ES compelling, and thus the investor or lender never reads the whole plan.


Today’s Resource

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Today’s Question: How did secure, relatively high-yielding stocks get to be called blue chips?

Previous Question: What was sold in the Burpee mail-order catalog when it was introduced by 17-year old Washington Atlee Burpee in 1876?

Previous Answer: Chickens.  

Burpee soon added chicken feed and then the vegetable and flower seeds the catalog has long been famous for.

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