An executive summary is a short, crisp snapshot of the key points contained in a document. It reflects the content of your detailed business plan and makes it easy for the reader to get a good understanding of what the rest of the document will cover.
To prepare an effective executive summary, you will first need to write your business plan. And while there are many ways to do this, such as using software, writing it from scratch, or using a business planning template, you’ll need to keep one key point in mind throughout the process: who the reader is. is. Without easily knowing who will read your plan and basing decisions on what it includes, then your document and executive summary can be quite confusing.
To help gain this clarity early on, think about the purpose of writing your business plan. Is it up to a banker or investor to review and consider lending you money for your business? Is it so that his people have a clear idea of what the company will do in the next 1-3 years? Or is it for you, helping you to shape your ideas and strategies for the establishment and growth of your business?
Although your plan should be applicable to all three types of readers, once you’ve determined who your audience is, you can shape your executive summary to highlight the areas of the plan that matter most to the reader.
For example, if your reader is a banker you are asking for a loan, then they will want to know that the plan describes the ways in which the business will make a profit and how you have reached your conclusions (such as market research). and tests). They will also want to know how well you have captured current and planned business expenses and projected revenue from the products/services you intend to sell. Including a budget in your plan will also help show the details of your financial projections that you can then see in your summary.
The bottom line is that an executive summary is a high-level summary of what the rest of the document is about. A good summary will mean that someone can read it and get a reasonable understanding of what you want to communicate, and then choose to dig deeper into the plan in areas that interest them most.
It has to be attractive, concise and to the point. No rambling sentences and repetitions. Keep it short and sharp. As long as you communicate the gist of the plan, you’ll be fine. It can be helpful to structure your executive summary before writing it. Think about the main aspects of your plan and structure the summary so that each point leads to the next and creates a good understanding in the reader’s mind. You can also try explaining to someone what the plan is about and asking that person to write notes while you talk. You can then use these notes as the basis for your summary.
Your executive summary in the business plan will not be as long as the rest of the document, but it is probably the most important aspect of the entire plan. Without a good, clear and direct summary, your reader will not get past the second page.
