Business Plan Lesson 8: Executive Summary
Although it appears at the front of the plan, a good executive summary is written last. The summary captures the highlights of the entire business plan document, just as a traveling itinerary reflects the key happenings of a trip but does not account for every minute spent.
The executive summary should be clear and concise, and between two and three pages in length. Lenders, investors, and venture capitalists receive far more business plans than they are capable of funding. You must grab the reader’s attention so he or she is willing to dig more deeply into your opportunity.
- List your company name, type of business, location, and legal status.
- Describe the current state of the company, readiness for market; past successes, and key staff.
- Describe your products and services. Include the date the product was introduced, present volume, and unique features.
- List the reasons customers need your product(s). Include an indication of your market size and growth potential.
- Summarize aims and objectives for the short and long term.
- What strategies will you employee to reach these goals?
- What key facts do you want potential investors to know about company finances, either current or projected?
- How much funding do you seek, how do you plan to raise funds, and how will you spend the funds?
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