An easy way to begin is to focus on describing the action steps required to build the business -- a schedule of what must be accomplished and when.
The summary should run two to three pages in length, four at the most. Because entrepreneurs usually send the executive summary to prospective investors prior to sending the whole plan, the summary must be written with great care and the ideas must be expressed with great clarity.
Excitement and Vision Entrepreneurs are enthusiastic, even passionate, about their ventures, and this must be conveyed to investors through the executive summary.
Present your vision for the company with confidence. Give the reader a clear picture of why you believe your company has great potential for growth and profitability--which translates into a high return on investment for the investors.
The First Paragraph The paragraphs in the summary are like the chapters of your full plan--but you only have room to make one or two key points in each paragraph. In the first paragraph, describe what products and services you offer, what markets you serve, and where your company is located.
There can business plan contains no confusion here about what exactly your technology does or how customers will use it and benefit from it.
Talk about the stage of development your company has reached and major accomplishments or milestones. Even a pure start-up venture may have reached development milestones that make it seem more real. Market Need Building a successful company requires more than an idea for a good product, or multiple good products.
Success comes from identifying a critical, urgent customer need and providing a solution that is significantly better than any others available to the customer. A critical need motivates a customer to action--spending money on your product or service. Having a significantly better solution makes the sales process easier.
The customer can more readily see why they will benefit from what your company is offering. Target Markets Describe the target markets you have selected and why you selected them. The more specific you are about who your customers are or will be, the clearer understanding the reader will have of your sales strategy--how you intend to reach these customers.
Competitive Advantages Your competitive advantages are of particular importance to investors, but expressing them in the limited space of an executive summary is difficult. Think of a sentence that begins: Management Team Prior business success is considered a reliable indicator of future success.
Express the most significant accomplishments of each member of your team, using action verbs such as created, increased, or built rather than just providing job titles or previous positions.
Financial Summary The investor wants to know how much capital you need and how the capital will be used, the three or four largest expenditure categories. Also include a table with the most basic financial projections for the next three to five years, revenues, cost of goods sold, operating expenses and pretax profit.
They will see more detailed projections in the full business plan, which they will request because they are impressed with your executive summary.
References 1 Small Business Administration:We support America's small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business. Subpart —The Small Business Subcontracting Program “Master subcontracting plan” means a subcontracting plan that contains all the required elements of an individual subcontracting plan, except goals, and may be incorporated into individual subcontracting plans, provided the master subcontracting plan has been approved.
The resulting document can serve as the blueprint for your business and be supplied to financial institutions or investors if debt or equity financing is needed to get your business off the ground..
Pros of using a business plan template: A good business plan template can help you get your thoughts kaja-net.com can provide a guideline so you’re not stuck looking at a blank page trying to. Business plan outline based on Anatomy of a Business Plan and Automate Your Business Plan, used for bank and SBA loan applications.
If your business is new and has not yet begun operations: Contains: (1) Assets, (2) Liabilities and (3) Net Worth. This article is part of both our Business Startup Guide and our Business Planning Guide —curated lists of our articles that will get you up and running in no time!.
If you’ve reviewed what a business plan is, and why you need one to start and grow your business, then it’s time to dig into the process of actually writing a business plan.. In this step-by-step guide, I’ll take you. A business plan is a good way to explore the feasibility of a new business without actually having to start it and run it.
A good plan can help you see serious flaws in .