An executive summary for a business plan is a succinct, positive synopsis of the business that appears at the beginning of your plan. It is typically two pages long and contains two-sentence summaries of each portion of the plan. The executive summary should ideally enable the reader to grasp your business plan’s essential elements quickly.

The executive summary mustn’t be a dry statement. It should be clear, concise, and engaging if you want readers to be interested in your business.

What Is Included in an Executive Summary?

The executive summary will differ between established businesses and start-ups. However, certain elements are shared by both:

• The location and name of the business.
• Your company’s value proposition: What distinguishes your company from competitors?
• The market demands that your company fills, along with evidence of those demands.
• The way your company’s products or services address that need.
• A description of your competitors and the advantages your business has over them.
• A profile of your target customer.
• A summary of your company’s management team and how each individual contributes to its success.
• Details of the company’s current stage of development.
• A financial summary that shows projected profits and sales for the next three years honestly and convincingly.
• If you require funds from a financial institution, specify the amount needed. Declare the percentage stake in the business you’re offering in exchange for their financial support.
• A summary of major milestones thus far and your future objectives.

Start-ups should also include the following:

• A synopsis of your sales and marketing strategy.
• Your implementation strategy outlines how you intend to move the company from planning to opening.

For established businesses, be sure to include:

• An overview of the company’s market share and revenue growth.
• A financial overview for prospective investors.
• A business blueprint that describes your company’s plans. This is also crucial for investors. They will want to know how you intend to use their funds to expand the business.

When a company begins to generate profits, its value can skyrocket. In this case, it is essential that your executive summary explicitly states how the company’s ownership is divided.

How to Write a Strong Executive Summary for Your Business Plan

How to Write a Compelling Executive Summary for Your Business Plan:

Although your executive summary will be distinct to your company and business plan, there are a few general steps that every entrepreneur and business owner can take when composing their executive summary for the first time.

1. Compose your business plan first. Since the executive summary will be an overview of the most important subjects covered in your business plan, it is often beneficial to compose the entire business plan first. Make sure your executive summary only includes facts and details from the business plan.
2. Create an interesting introduction. Your audience will determine what constitutes “engaging.” Your introduction could include a surprising industry fact or a brief story; either way, it should be relevant to your company and catch your audience’s attention. It is also important to clearly define the mission and vision of your business plan and what the reader can expect to see in the upcoming document.
3. Draft the executive summary. Examine your business plan for key points to include in your executive summary. Connect to each key topic of your business plan concisely yet comprehensively so that the reader does not need to read the rest of the business plan. Ideally, the summary should be interesting enough to keep them reading, but they should be able to comprehend your plan based solely on the summary.
4. Organize and edit your document. Assemble your executive summary to flow with the components of your business plan, beginning with the essential aspects. A bulleted list can help you draw attention to your most important points. Check the document for clarity and accuracy. Remove buzzwords, redundant information, jargon, qualifying words, passive language, and unsubstantiated claims. Check that your executive summary can function as a stand-alone document if necessary.
5. Seek professional assistance. As most entrepreneurs are not writers, having a professional writer or editor scan your document to verify if it flows smoothly and covers the points you want to convey can be beneficial.

When writing an executive summary, you should avoid a few things. For example, avoid discussing all entrepreneurs’ general qualities, such as your team’s dedication to hard work. This information is self-evident and will only distract from the critical details of your summary. In your executive summary, you should avoid comparing to other businesses.

Instead, concentrate on providing facts that you believe demonstrate your company’s strength. It’s preferable if the investor bestows this privilege on you because they acknowledge your company’s potential.

Takeaway:

Although the executive summary is the most significant part of your business plan, it does not have to be the most difficult to write. If you’ve completed the business plan, you’ve already completed most of the work.

Get Professional Business Writing Assistance With Business Plan Writers UK:

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Also Read: Understanding the Importance of Updating Your Business Strategy