We get it. You want to make a business plan that can attract more investors to finance your business. The question is, do you know what they are actually looking for? The answer lies in how you sell them your entire business plan without actually forcing them to read all the pages. Write a well-crafted executive summary. In this article, you are going to uncover the things that you need to know about writing the best executive summary.
FREE 10+ Best Executive Summary Samples
Before you do anything else, take a look at the best executive summary examples for startups and projects from this section. The good thing with these templates is, you can download them in different formats, such as Adobe PDF. You can also check our article about resume samples to create one that will implement the executive summary that you are going to develop.
1. Marketing Plan Executive Summary
2. Sample Executive Summary Proposal
3. Sample Executive Summary Report
4. Project Proposal Executive Summary
5. Sample Executive Summary
6. Business Plan Executive Summary
7. Business Case Executive Summary
8. Sample CV Executive Summary
9. Sample Company Executive Summary
10. Administrative Executive Summary
11. Audit Report Executive Summary
What Is an Executive Summary?
An executive summary is a one or two-page document that you can produce as part of business reports, such as financial and design analysis reports and business proposals. Its purpose is to allow the readers to understand the material they are about to read without actually reading the entire document, enabling the readers to create a business decision in a short period.
How To Write the Best Executive Summary For Your Business Plan
While it is true that there are many startup businesses fail, a lot of them have become successful. The Chinese content platform, Toutiao, is one of these valuable startups worldwide. As of October 2019, the company’s value has reached 75 billion USD. In this article, we are going to give you tips that will increase your business’s chance to earn a high-value title by writing a well-crafted executive summary for your business plan.
1. Write Your Pitch
Similar to writing a sales plan, including a sales pitch in writing an executive summary, is a crucial factor in attracting potential investors. Do it by including relevant bad experiences of a customer and how you will solve them. By doing so, you can have the attention of readers, which is a great way to give you a chance to convince them of your business idea.
2. Sell Them with Market Opportunities
Investors target business opportunities that will earn them billions. Therefore, you have to convince them that your business has high and growing market opportunities. To do it, don’t just show them that you have the market. Show them that the solution that you are proposing targets a specific market segment. Get the data that you need by conducting market research.
3. Show The Readers that You have the edge over the Competitors
By earning a patent for your technology idea, you can gain a competitive edge over the other big players in the industry. However, business people are not fools. It is not enough. It’s a good thing that you have the market research report from the market research that you have conducted in the previous step, but don’t stop there. Conduct a competitor’s analysis to increase your competitive advantage.
4. Create a Clear Business Model
With the market and competitor’s analysis that you have conducted, you should be able to create a business model to show to your readers. Convince them to put their investments in your business by producing a business model that will convince them that your business operation will be successful because you have the products, revenue sources, customer base, and financing details.
5. Convince The Readers with Your Relevant Business Experience.
By including your relevant business experience and the companies and individuals that you work with before, you can convince the potential business partners that you are the right person or team to handle this type of challenge.
6. Set Proper Expectations
Investors love to hear about their contributions. Therefore, you have to include the projections for revenues, costs, and investment contributions. However, note that they don’t just commit their funds to an investment scheme with no proper expectations. For the revenues, costs, and investment contributions projections to make sense, outline significant breakthroughs. It will give them the impression that you are willing to commit success for the business and that their funds are in good hands.
7. Don’t Forget the potential investment return
Lastly, you don’t just tell them of the contributions that they have to make, but also what they get in return. You cannot make big promises, but you can outline the potential investment return and the payback that they will get by contributing to the business.
What is the difference between Executive Summary and Abstract?
An abstract and executive summary differs in so many things, but the most important difference that you need to know is that abstract intends to orient the readers about what they are about to read. This document is shorter than the executive summary and is very common in academic research plans. Meanwhile, the executive summary intends to give the readers an alternative document to read instead of reading the entire document to determine whether or not they are going to approve the business proposal.
What is the purpose of writing an executive summary?
An executive summary is essential to businesses and projects, such as the startup real estate businesses, because it helps business people seek out business partners, apply for business loans, and attract funding.
What is a business plan?
A business plan is a document that allows you to describe your business formally. This document bundles executive summary, among other sections, such as operational plan, budget, sales, and marketing strategy, projected profit and loss statement, and business overview.
As a business person, before you do anything, you need to know what you are getting into. You are here. Therefore, you must have known that. In this article, we have tackled the potential of creating an executive summary and how to make one for your business successfully.
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