Executive summary and conclusion The executive summary and conclusion An executive summary is typically the first section of a business plan, report or project, and summarises all of the content, highlighting the key points. You should check the guidance in your module handbook to see if this section is a part of your assignment. It is usually written for nontechnical people who don't have time to read the main report.
Most of them offer a wealth of well-intended suggestions about all the stuff you need to include in the executive summary. They provide a helpful list of the forty-two critical items you should cover, and then they tell you to be concise.
Most guides to writing an executive summary miss the key point: The job of the executive summary is to sell, not to describe. The executive summary is often your initial face to a potential investor, so it is critically important that you create the right first impression.
Contrary to the advice in articles on the topic, you do not need to explain the entire business plan in words. You need to convey its essence, and its energy. You want to be clear and compelling. Forget what everyone else has been telling you. Here are the key components that should be part of your executive summary: The Grab You should lead with the most compelling statement of why you have a really big idea.
Usually, this is a concise statement of the unique solution you have developed to a big problem. It should be direct and specific, not abstract and conceptual. If you can drop some impressive names in the first paragraph you should—world-class advisors, companies you are already working with, a brand name founding investor.
He or she may never get that far. The Problem You need to make it clear that there is a big, important problem current or emerging that you are going to solve, or opportunity you are going to exploit.
In this context you are establishing your Value Proposition—there is enormous pain and opportunity out there, and you are going to increase revenues, reduce costs, increase speed, expand reach, eliminate inefficiency, increase effectiveness, whatever.
The Solution What specifically are you offering to whom? Software, hardware, service, combination? You might need to clarify where you fit in the value chain or distribution channels—who do you work with in the ecosystem of your sector, and why will they be eager to work with you.
If you have customers and revenues, make it clear. If not, tell the investor when you will. The Opportunity Spend a few more sentences providing the basic market segmentation, size, growth and dynamics—how many people or companies, how many dollars, how fast the growth, and what is driving the segment.
You will be better off targeting a meaningful percentage of a smaller, well-defined, growing market than claiming a microscopic percentage of a huge, heterogeneous, mature market. Your Competitive Advantage No matter what you might think, you have competition.
At a minimum, you compete with the current way of doing business. Most likely, there is a near competitor, or a direct competitor that is about to emerge are you sufficiently paranoid yet??
So, understand what your real, sustainable competitive advantage is, and state it clearly. Believe it or not, in most cases, you should be able to make this point in one or two sentences. The Model How specifically are you going to generate revenues, and from whom?
Why is your model leverageable and scaleable? Why will it be capital efficient?There are many samples available stating the acceptable format of writing a business plan executive summary template. Depending on the type of the business, the template should be divided into points, columns and paragraphs to make it look presentable as well as attractive.
People who read only the executive summary should get the essence of the document without fine details. The executive summary of your 4-page, page, or page report is the version you would relate to the VP of your division while taking the elevator . An executive summary is an abbreviated version of a business plan which precisely highlights the main sections of it.
It’s meant to be a lean version of your business plan with . Remember that while the executive summary appears first in the business plan, it should be written last since it is the summary.
A business plan is developed from the bottom up, so you need to work out all the details before you can write the summary. We would like to show you a description here but the site won’t allow us.
Executive Summary Every business plan should include an executive summary, which is basically an introduction to your plan.
This should be placed at the start of your plan. According to Small Business Chron, the executive summary can be tailored to individual readers. How to Write a Business Plan for Your Start-up Posted in Business .