Developing a business plan is essential for every start-up and established company. A business plan may serve as a roadmap that will aid the company in how to strive and achieve its goals. In this document, you are to describe the company’s objectives, outline the business goals, and ways to achieve them. You may also want to tackle the financial, marketing, and operational standpoint of the business. A well-written business plan will attract more investors and open up new business opportunities. So, one essential component that makes up a good business plan is its executive summary. Why so? Let us discuss this further below. And if you need to start writing this, we’ve got a list of business executive summary samples that you can download for free on this page.
Developing a business plan is essential for every start-up and established company. A business plan may serve as a roadmap that will aid the company in how to strive and achieve its goals. In this document, you are to describe the company’s objectives, outline the business goals, and ways to achieve them. You may also want to tackle the financial, marketing, and operational standpoint of the business. A well-written business plan will attract more investors and open up new business opportunities. So, one essential component that makes up a good business plan is its executive summary. Why so? Let us discuss this further below. And if you need to start writing this, we’ve got a list of business executive summary samples that you can download for free on this page.
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What Is a Business Executive Summary?
An executive summary can be found in some reports where there is a need to provide an overview of the document. This will give the reader a heads up on what the report or the paper is all about, and what they are expected to learn. A well-written executive summary may help in providing the right decisions for the reader as well.
A business executive summary or simply an executive summary can also be found in a business plan. As mentioned this will provide ample information needed by the reader on what the business plan is all about. Usually found on the first page, it is essential that you are able to create a fascinating executive summary that may make your readers want to read more. Think of it as an elevator pitch, something brief that should be able to captivate the reader’s interest in a second.
How to Create a Business Executive Summary?
Although a business executive summary is found on the first page, it is recommended that you write it last. Right after you have completed the essential parts of the business plan. The reason for doing so is that once you have more or less completed the business plan and you already have an idea of what each component is all about and all you need to do now is to summarize everything there is to know thus creating a business executive summary. As this is just an overview, you must be mindful of the length and its details. Take note that every executive summary can be different from another since the information you need to include varies somewhat depending on whether your business is a startup or an established business. To start creating this, here are several steps that can be of help.
1. Hightlight Each Section
Since the business plan composes of several categories such as marketing, finance, management, products/services provided, operations and etc. it is important to highlight each given component. Remember an overview is sufficient enough since the reader can read more about each category by going through the entire business plan.
2. Business Opportunity or Problem Statement
The reason why you have started a business is that you are confident that your company can address an issue or problem in the market. So it is essential to describe that business opportunity as investors want to understand if the world truly needs your company’s products and/or services.
3. Target Market and Competition
Another important factor you need to address is who you intend to serve, so to give the readers an idea describe your target market and the reason why you choose to serve them. Also, every business has its competitors, so readers of the business plan would want to know who they are and what are your strategies that can help your company work its way around the competition.
4. Company History
Readers would want to know how your company started, although you can divulge more information in your company profile, providing a brief summary will pique their interest. This will help the reader understand how your business has evolved and grown over the years and what you’ve been able to accomplish.
5. Product/Services
Your products and services make your company, and how you intend to sell this to the public is essential for the success of your business. A brief description of these would give the readers the plan who it would appeal to the customers and its benefits.
6. Financial Plan
Managing finances is essential to keep the business running, and the way you present this is important most especially if you are seeking out investors. A brief financial summary covering key points of how and where you plan to allocate the funds should be included and explained. Provide future financial projections so investors can determine whether they might get an adequate return from investing in the company.
7. Management Team
Provide a brief description of the owner(s) and the key team members, you can also highlight their expertise and how they are able to make a difference running the business.
FAQs
How long should an executive summary be?
An executive summary will depend on the purpose of the paper it represents. The number of pages of an executive summary would be determined by the length of the original business plan, report, or document. At most, it should be roughly around 3 pages max considering this a summary of the original paper or report.
What is a start-up business?
A start-up business is in its initial stages of a business, meaning it is a newly formed business that is established to create unique and irreplaceable products or services.
How may pages is a business plan?
A business plan should more or less comprise 15 to 20 pages, could be longer depending again on the type of business you are engaged in.
A business executive summary introduces your company to the readers of your business plan. This will become one of their deciding factors if they want to continue learning more about your business, so it should be well-written and appealing. To make it easier for you to write one, download our free templates now!
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