| First, what the executive summary is NOT:o It's not | | | | partnership, or proprietorship) and whether it will |
| an overture or a prelude to the main body of the | | | | manufacture, market, or provide a service. How will |
| business plan - something that introduces the theme | | | | your business operate? State your goals and your |
| of the plan and sets the mood with sweeping | | | | strategy for achieving them. Include your mission |
| imagery and generalities about "opportunity," | | | | statement.o Products or Services. What are your |
| "innovation," and "meeting needs".o It's not only for | | | | products or services? Give a clear, concise |
| summaries about the company's executives.o It's not | | | | description. What developmental stage are you in? |
| just an introduction to the business plan. | | | | What is your competitive advantage?o Market. |
| Now, what the executive summary is:o It's your | | | | What's the demand for your product or service? |
| business plan in miniature, an overview.o It must be | | | | What's your company's market potential? What's |
| clear, logical, interesting, and exciting.o It's your best | | | | your customer base? Comment on your |
| sales pitch, on paper. | | | | competition.o Management. List the key members of |
| What's the purpose of the executive summary? The | | | | your management team. Include biographical sketches |
| main purpose is to spark the reader's interest. The | | | | and show why they are qualified to lead your |
| first reader of your plan will probably be the | | | | company to success.o Finance. Include basic financial |
| decision-maker at a venture capital firm, an angel | | | | information and funding requirements. Show how |
| investor, or your banker. You have this person's | | | | funds will be used. Summarize projected revenues |
| attention for the time it takes to read the 1 to 2 | | | | and market share. |
| pages of your executive summary. In that brief | | | | Tips:o Write your executive summary after you |
| period you must deliver a longer version of your best | | | | complete the formal business plan.o Stick to the |
| "elevator pitch". Your reader will judge the quality of | | | | essential information. Be concise. There's room in the |
| your idea and your team. If he or she is favorably | | | | rest of the business plan for elaboration.o Use strong, |
| impressed, your business plan will be referred to staff | | | | positive language - but watch out for hype. If you |
| analysts for evaluation. If not, it goes to the trash. | | | | come on too strong, you might turn off your |
| Contents of the executive summary:o Business | | | | reader.o Close with a strong statement of why your |
| description. What form it will take (corporation, | | | | company will be a winner. |