While creating your business plan, you want to put a lot of thought into your executive summary. After all, this is the first part of the business plan that people actually see. Most people choose to wait and write this portion of their business plan last so that they can focus on it once the other daunting tasks are complete.
You will not want your summary to be longer than a couple of pages. It is better if it is just a single page. It will give an overview of your business and your upcoming plans. You should make it as concise as possible, but still ensure that it will pique the interest of the reader. You don’t want them to stop after your summary and not continue reading.
Here are a few things that you will want to mention in your Executive Summary:
• An introduction to your business – this should include what your business is, what you plan to do, how it is managed, where it is located, and who your target audience is
• A mission statement and a vision statement – this should give an idea about your short term and long term goals
• Your business dynamic (sole proprietorship, partnership, corporation)
• Opportunities for growth in your business
• Financial requirements for your business, including funding sources and schedules for repayment
• An outline of the marketing plans for the future
When introducing the plans that you have for your business, you will want to use conviction. Try to end the summary with a statement that strikes a chord with potential investors, something that will question why they should put their time and money into your business in particular.