You need a nice executive summary to get the attention of investors to your business plan even if the business idea is pretty fantastic. The reason most people don’t usually find investors for their businesses is badly written executive summary. Investors, business consultants, bankers, and many other experts read first the executive summary to gain insight or have a general overview of your business. The executive summary informs the readers if it is safe or not to invest in your business. Therefore, it is in your best interest to be honest at this point. Otherwise the whole business will crumble.
Include in the executive summary all critical information about the business ideas in a brief, concise and clear manner. At this point, the readers should understand the key points of the business plan. If the executive summary fails to do this, it is most probably a poorly written one. Try not to waste the time of these busy business people by giving lopsided information in the executive summary. This may earn you considerable negative points from their judgement.
When writing the executive summary have the readers in mind and write for them. Ask who are the readers, what is their education background, what important information matters to them or what other information may likely influence their decisions positively. When your business is highly technical please include technical descriptions in the executive summary. However, consider if your readers will understand your executive summary easily. Try to fathom and use words your readers are familiar with and less of technical jargon. Where slang has been used, it is best practice to provide an addendum to explain the meanings of the slang terms. Truly, those that are interested in the business plan will read the whole document.
The executive summary is not separated from the business plan. It is an essential part of the business plan. Although, this is the first section of the business plan. Place it at the very beginning. It is usually good to limit the length to one page. It takes more pages for large businesses. In this case, you can keep the executive summary to span two pages. There are other people that are so much interested in the business plan like the media. It is actually a miniature of the whole business plan. Ensure you don’t waste this wonderful opportunity to get the attention of the investors by including irrelevant information. Include the main ideas, this is the strength of the business and the main facts. Also include the most important thing about the business, what is unique in the business, explain why the business is going to be successful and also what makes it a good investment. And if there are any inherent risks, be sure to mention them and how you are going to overcome the risky areas.
Finally and probably the most important, the executive summary should be the last section of the business plan to write even though the section comes first on the pages of the business plan. Keep it as the last aspect to write. So wait and write after all your ideas are clear and there is a proper structure of the business on ground.
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