As the formal introduction to a business plan, an executive summary encapsulate the direction, motivation, plans and goals of a business. As the business plan summary, the executive summary is vital for those who are searching for start-up funding. Those interested in learning how to write an executive summary of a business plan will benefit from the following suggestions.
Keep it short and write it last
Keep it short Do your very best to keep the executive summary between one to two pages. The purpose of the executive summary is to catch your readers' attention. Too much information may make you seem disorganised. Write it last Even though the executive summary is placed at the beginning of a business plan, it should be written last. The summary should be based on the research and information contained within the business plan. When you write the executive summary last, you are able to ensure that the information in the summary is consistent with what will be found in the business plan.
Describe your mission statement and explain your idea
Describe your mission statement The executive summary is an excellent place to introduce your mission statement. The mission statement should be summarised in no more than two to three sentences, and should tell the reader why your business exists, what your goals are and how you plan to meet your goals. Explain your idea After you have summarised your business mission statement, explain your business idea. In this part of the executive summary, explain how your business is different from the competition and introduce the reader that what you have to offer is better than other products that are currently on the market.
Explain the financial
Briefly explain what the start-up costs of the business will be as well as what your projections for future earnings are. In this part of the executive summary, tell the reader precisely where your business stands as of the time of the reading. Let the reader know if you are already in operation and want to expand your ventures or just starting and need to raise some capital.
Explain how you will succeed
Concisely explore how you will handle the factors that will determine your success. For example, discuss who your partners are and what kind of agreements you have with them. Be sure to include how you plan to handle fluctuations in the market and keep staff turnover to a minimum.