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Write
the Executive Summary as a TEMPLATE to format your entire business
plan.
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Writing
an Executive Summary should address the needs and interest of the
reader. Think about what information the reader really NEEDS to take
an action.
Consider
diversifying your summaries... write for different reader groups.
The Executive
Summary covers all of the KEY POINTS of the plan. It is the section of the
plan that is typically reviewed first by interested parties to
determine if further reading is required.
This
is the MOST critically important
part of the entire business plan!
This is also where
your EXCITEMENT and ENTHUSIASM about your company really pays off.
The
Executive Summary Is A GUIDE!
In Writing A Business Plan
Typically, although
it’s finalized last, a PRELIMINARY DRAFT of the Executive Summary
should be written as a template to format all of the key elements of the
business plan.
Writing a draft will be helpful as you capture the detailed results of all
your RESEARCH and PLANNING.
Writing a draft of the Executive Summary will also help ensure ALL of the
necessary elements have been covered in your plan.
It
Captures Your Company's Vision!
A company's vision
statement describes where it sees itself in the marketplace -- a WORD
PICTURE of what your company represents. Your vision statement describes
your business strategies and philosophies in BROAD terms.
Your
mission statement, on the other hand, may describe...
-
your
activities,
-
the
purpose of your business,
-
your
business philosophy,
-
beliefs
and values, and/or
-
the
relationship you want with employees and customers.
The
statement should give the reader an idea of what is IMPORTANT to the
business and what you expect the business to become over the next 3 to 5
to 10 years.
Be
Sure To Point Out Your Most IMPORTANT Business Objectives
It is also key to
state your business objectives here... so the reviewer can MEASURE how
well your business is doing in the short-term.
You
can set specific objectives based on...
-
desired
market position (we want to be our town's largest repair shop),
-
sales
(we want sales to increase by 25% over the next twelve months),
-
profitability
(we want to improve profitability by 15% in the next quarter), or
-
any
other issue which is IMPORTANT to your business.
In
A Nutshell, The Executive Summary Is An Overview Of Your Entire
Business Plan
In writing an
Executive Summary, you should capture the key elements of the entire plan.
This overview is designed to BOOST and ENHANCE the detail which is to
follow.
Keep
in mind...
...
the Executive Summary is your BEST SHOT to gain interest.
"Make It SIZZLE!"
Typically, a
potential investor will use the Executive Summary to decide if they have
any interest in future discussions about your company or your plan.
In
writing your Executive Summary...
...
you have to convince the reader that YOUR BUSINESS PLAN is worth a
closer look.
Next up...
The
Company Summary! Click here to continue...
Articles courtesy of Palo
Alto Software, Inc.
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