An executive summary summarizes your entire business plan in two or three pages. This can be very difficult to accomplish. You want the executive summary to be concise and brief, yet complete, extensive and inclusive. The Executive Summary gives the user a quick overview of the important facts contained in your business plan. The long version can be used as a standalone written document, i.e. a mini business plan, or to succinctly explain your business and generate interest in your opportunity, products and services. The long version summary can be sent to an investor or venture capital firm, accompanied by a venture or investment overview to generate and gauge initial interest. If the VC firm or investor indicates interest, you can then send your custom tailor-made, to their investment objections and requirements, funding business plan which contains the shorter version executive summary. Long and short versions of your executive summary can be used as a sales document; to target lenders and investors; to approach new suppliers and customers; or to accompany Marketing Strategy; and to accompany your marketing plan or strategic plan. It is an initial ministration for your business plan. The executive summary is not just an overview, but a tool to be used to accomplish your business goals.
How to Develop the Executive Summary
First, you must complete your Business Plan before writing your executive summary. Then pick out the important sections of the business plan to put in the executive summary. Order the sections in a format that makes logical sense and outline the important parts of each section. With the outline in hand, write your first draft executive summary. This first draft will typically be ten to twenty pages long. Take the draft and condense it into five to seven pages in length. We will call this your long version executive summary, which is really a mini-version of your business plan. Working off the long version, you will condense it into the final two to three page summary, striking on the most important aspects of your business plan. It will take at least three renditions of outlining, writing and condensing to develop an effective executive summary. Later in this article I will explain the different uses of the long and short versions of the executive summary.
Suggested Executive Summary Format
Section One – Company Overview
Section Two – Business Plan Purpose and Objectives
Section Three – Company Goals and Vision
Section Four – Company Mission Statement
Section Five – Company Description
Section Six – Company Purpose
Section Seven – Company Situation
Section Eight – Founders, Management and Principals’ Experience and Capabilities
Section Nine – Products and Services
Section Ten – Competitive Edge
Section Eleven – Keys to Success
Section Twelve – Finance
Section Thirteen – Growth and Expansion Goals
Section Fourteen – Return on Investment
For more Business Success Strategies, please see my article on Finance for Business.
About The Author
Frank Goley is a Business Plan Writer for ABC Business Consulting. He is an expert in business planning, marketing, strategic planning, business turnarounds, online marketing and search engine optimization (SEO). Frank has written over 150 Business Success Articles and E-Books. He is author of a Business Plan Book and writes the Business Success Blog. Frank really enjoys helping companies to start, grow, turnaround and succeed!