Executive summary of business plan
Executive summary of business plan. It is most important part and hardest to write in a business plan. Investor will read through the executive summary first instead of go through entire business plan. so executive summary need to be nich, clear and able to attact people attention and interest.
Executive summary of business plan Executive summary is a core heart of entire business plan. Executive summary is a summary of the business plan. It is on third pages of business plan after your business plan cover and content. It decides your business plan success or fails to get investor /banker/ angels/ venture capitalist for investment on your business idea. It looks as simple as maximum 3 pages and writes at the last. But these three pages decide your business future. Why I said so? As normal practice, investor will not start reading your business plans if your executive summary unable attracts their attention and interest. The first three paragraphs are the most important. Start your executive summary with introduce your company background in brief. What is your business doing? What is your business activity? How big is your company with how many working capitals? Or you may give any related and important business information as well. Next, you must state clearly with powerful vision and mission of your company. The vision and mission must be S.M.A.R.T. Yes, be smart! ‘S’ is Specify, ‘M’ is Measurable, ‘A’ is Achievable, ‘R’ is Realistic and ‘T’ is Time frame. It is a powerful formula for your vision and mission statement! Secondly, briefly introduce your product or services. You need to define the value proposition of your business. Value proposition included target customer problem, customer perspective, opportunity in market and category if product or services if any. Tell your investor what is your business unique selling preposition. Further explain on your business model. Please generally explain on market size, market segmentation, growth potential, differentiation of you and your competitor. Thirdly, marketing plan. The marketing strategies show the step on how you achieve the company goals. You can further explain on competitive analysis, customer analysis, market analysis and any related analysis to your marketing program. Powerful tool SWOT analysis able to help to identify your company strengths, weaknesses, opportunities and threads. Furthermore, basic 4’P need to include in your business marketing plan. 1P is Product strategy, 2P is Pricing strategy, 3P is Promotion strategy and 4P is Positioning strategy. In addition, if your product or service is related to technology, you need to add in another section as technology plan. Or else just skip it. The technology plan needs to cover product development strategy, technical design platform, functionality and prototyping plan. Furthermore, financial plan is crucial part of your business. It represents projection of revenue, cost, expenses and cash flow of your company financial status. You need to show your investor how you can make money and get return from your business. In addition, state your funding requirement as well. Lastly, explain briefly on key management team, resources and working capital. This is important for investor to evaluate your capability to achieve the goals. Now is the time to get headache on how to write a maximum three pages executive summary where have so much of things feel needed to include. The clues to write a good executive summary is thinking and act yourself as entrepreneur.