The bulk of your business plan contains information about your market, competitors, market strategies, advertising campaigns, financial information, and basic managerial components (such as hiring employees and controlling costs) but now it is time to end it. Ironically, the end of your business plan is placed at the beginning of it; it’s the executive summary. The executive summary is typically one to three pages long and it should concisely summarize your business, yet be written in a way to draw readers into your plan.
Describe what your business is, who you are, and where you are located. Include when you plan to start operations.
State how you will stand out in your market niche. Briefly state who your target customers are and what products or services your business will offer.
Calculate what types of financing you are looking for.
Do not use “fluff” in your executive summary; keep the information simple and stick to facts. Use the main sections of your business plan to help you draft the executive summary. However, draft the executive summary so that it could stand on its own. The reader should not have to refer to sections in your business plan to clarify what you are saying in your executive summary.
Place the executive summary at the front of your business plan. Even though this is the last part of the plan that you write, it should appear in the beginning of the document.
- business is business - cliche image by Jeffrey Zalesny from Fotolia.com