How to Write an Executive Summary That Gets Your Business Plan Read
- How To Write A Good Executive Summary Example
- How To Write Executive Summary Samples
- How To Write An Academic Executive Summary Example
The easiest way of writing the executive summary is to review your business plan and take a summary sentence or two from each of the business plan sections you’ve already written. If you compare the list above to the sections outlined in the Business Plan Outline, you’ll see that this could work very well. Startup Executive Summary Template. Transform your executive summary into an investor document with this template. It acts as a one-page pitch that serves as your company profile on investor platforms. You can repurpose this template and save it as a PDF summary memo to.
An executive summary of a business plan is an overview. Its purpose is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content.
Think of the executive summary as an advance organizer for the reader. Above all else, it must be clear and concise. But it also has to entice the reader to read the rest of the business plan.
This is why the executive summary is often called the most important part of the business plan. If it doesn’t capture the reader's attention, the plan will be set aside unread - a disaster if you've written your business plan as part of an attempt to get money to start your new business. (Getting startup money is not the only reason to write a business plan; there are other just-as-important reasons.)
Because it is an overview of the entire plan, it is common to write the executive summary last (and writing it last can make it much easier).
What Information Goes in an Executive Summary?
The information you need to include varies somewhat depending on whether your business is a startup or an established business.
For a startup business typically one of the main goals of the business plan is to convince banks, angel investors, or venture capitalists to invest in your business by providing startup capital in the form of debt or equity financing. In order to do so you will have to provide a solid case for your business idea which makes your executive summary all the more important. A typical executive summary for a startup company includes the following sections:
- The business opportunity - describe the need or the opportunity.
- Taking advantage of the opportunity - explain how will your business will serve the market.
- The target market - describe the customer base you will be targeting.
- Business model - describe your products or services and and what will make them appealing to the target market.
- Marketing and sales strategy - briefly outline your plans for marketing your products/services.
- The competition - describe your competition and your strategy for getting market share. What is your competitive advantage, e.g. what will you offer to customers that your competitors cannot?
- Financial analysis - summarize the financial plan including projections for at least the next three years.
- Owners/Staff - describe the owners and the key staff members and the expertise they bring to the venture.
- Implementationplan - outline the schedule for taking your business from the planning stage to opening your doors.
For established businesses the executive summary typically includes information about achievements, growth plans, etc. A typical executive summary outline for an established business includes:
- Mission Statement – Articulates the purpose of your business. In a few sentences describe what your company does and your core values and business philosophy.
- Company Information – Give a brief history of your company - describe your products and/or services, when and where it was formed, who the owners and key employees are, statistics such as the number of employees, business locations, etc.
- Business Highlights – describe the evolution of the business - how it has grown, including year-over-year revenue increases, profitability, increases in market share, number of customers, etc.
- Financial Summary – if the purpose of updating the business plan is to seek additional financing for expansion, then give a brief financial summary.
- Future goals – describe your goals for the business. If you are seeking financing explain how additional funding will be used to expand the business or otherwise increase profits.
How Do I Write an Executive Summary of a Business Plan?
Start by following the list above and writing one to two sentences about each topic (depending on whether your business is a startup or an established business). No more!
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The Easy Way of Writing One
Having trouble getting started? The easiest way of writing the executive summary is to review your business plan and take a summary sentence or two from each of the business plan sections you’ve already written.
How To Write A Good Executive Summary Example
If you compare the list above to the sections outlined in the Business Plan Outline, you’ll see that this could work very well.
Then finish your business plan’s executive summary with a clinching closing sentence or two that answers the reader’s question, “Why is this a winning business?”
For example, an executive summary for a pet-sitting business might conclude: “The loving on-site professional care that Pet Grandma will provide is sure to appeal to both cat and dog owners throughout the West Vancouver area.”
(You may find it useful to read the entire Pet Grandma executive summary example before you write your own.)
Tips for Writing the Business Plan’s Executive Summary
- Focus on providing a summary. The business plan itself will provide the details and whether bank managers or investors, the readers of your plan don’t want to have their time wasted.
- Keep your language strong and positive. Don’t weaken your executive summary with weak language. Instead of writing, “Dogstar Industries might be in an excellent position to win government contracts”, write “Dogstar Industries will be in an excellent position..”
- Keep it short - no more than two pages long. Resist the temptation to pad your business plan’s executive summary with details (or pleas). The job of the executive summary is to present the facts and entice your reader to read the rest of the business plan, not tell him everything.
- Polish your executive summary. Read it aloud. Does it flow or does it sound choppy? Is it clear and succinct? Once it sounds good to you, have someone else who knows nothing about your business read it and make suggestions for improvement.
- Tailor it to your audience. If the purpose of your business plan is to entice investors, for instance, your executive summary should focus on the opportunity your business provides investors and why the opportunity is special. If the purpose of your business plan is to get a small business loan, focus on highlighting what traditional lenders want to see, such as management's experience in the industry and the fact that you have both collateral and strategies in place to minimize the lender's risk.
- Put yourself in your readers’ place.. and read your executive summary again. Does it generate interest or excitement in the reader? If not, why?
Remember, the executive summary will be the first thing your readers read. If it's poorly written, it will also be the last thing they read, as they set the rest of your business plan aside unread.
Make Writing Your Executive Summary Easier with This Example
It's always easier to write something if you can read an example first, so here's an executive summary example that you can use as a model for your own business plan's executive summary.
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Please note that “Pet Grandma Inc.” is a fictional business invented for this example. For instructions and tips on how to write an executive summary for your own business plan, see Writing the Executive Summary of the Business Plan, part of the Writing a Business Plan series. For a template that you can use to write a complete business plan see the Simple Business Plan Template or these One Page Business Plan Templates.
Executive Summary Example
The executive summary goes near the beginning of the plan but is written last. It should provide a short, concise and optimistic overview of your business that captures the reader's attention and gives them an interest in learning more about it.
The executive summary should be no more than two pages long, with brief summaries of other sections of the plan. Here's the example two page executive summary for Pet Grandma Inc.:
Section 1: Executive Summary for Pet Grandma Inc.
Our Mission
Pet Grandma Inc. offers superior on-site pet sitting and exercising services for dogs and cats, providing the personal loving pet care that the owners themselves would provide if they were home. Our team will ensure that pet owners can take business trips or vacations knowing that their pets are in good hands.
The Company and Management
Pet Grandma Inc. is headquartered in the City of West Vancouver and incorporated in the Province of British Columbia. The company is owned by partners Pat Simpson and Terry Estelle. Pat has extensive experience in animal care while Terry has worked in sales and marketing for 15 years.
The management of Pet Grandma Inc. consists of co-owners Pat Simpson and Terry Estelle. Both partners will be taking hands-on management roles in the company. In addition, we have assembled a board of advisors to provide management expertise. The advisors are:
1. Juliette LeCroix, partner at LeCroix Accounting LLP
2. Carey Boniface, veterinarian and partner at Little Tree Animal Care Clinic
3. John Toms, president of Toms Communications Ltd.
How To Write Executive Summary Samples
Our Services
Our clients are dog and cat owners who choose to leave their pets at home when they travel or who want their pets to have company when their owners are at work. Pet Grandma Inc. offers a variety of pet care services, all in the pet’s home environment, including:
- Dog walking
- Daily visits
- 24-hour care for days or weeks
- Administration of medications by qualified staff
- Emergency treatment in case of illness (arranged through veterinarians)
- Plant watering
- Mail collection
- Garbage/recycling
The Market
Across Canada the pet care business has seen an explosion of growth over the last three years. West Vancouver is an affluent area with a high pet density. Our market research has shown that nine out of 10 pet owners polled in West Vancouver would prefer to have their pets cared for in their own homes when they travel rather than be kenneled and six out of 10 would consider having a pet sitter provide company for their dog when they were at work.
Our Competitive Advantages
While there are currently eight businesses offering pet sitting in West Vancouver, only three of these offer on-site pet care and none offers “pet visit” services for working pet owners.
Pet Grandma’s marketing strategy is to emphasize the quality of pet care we provide (“a Grandma for your pet!”) and the availability of our services. Dog owners who work, for instance, will come home to find happy, friendly companions who have already been exercised and walked rather than demanding whiny animals.
All pet services will be provided by animal care certified staff.
How To Write An Academic Executive Summary Example
All employees are insured and bonded.
Financial Projections
Based on the size of our market and our defined market area, our sales projections for the first year are $340,000. We project a growth rate of 10% per year for the first three years.
The salary for each of the co-owners will be $40,000. On start up we will have six trained staff to provide pet services and expect to hire four more this year once financing is secured. To begin with, co-owner Pat Simpson will be scheduling appointments and coordinating services, but we plan to hire a full-time receptionist this year as well.
Already we have service commitments from over 40 clients and plan to aggressively build our client base through newspaper, website, social media, and direct mail advertising. The loving on-site professional care that Pet Grandma Inc. will provide is sure to appeal to cat and dog owners throughout the West Vancouver area.
Start-up Financing Requirements
We are seeking an operating line of $150,000 to finance our first-year growth. Together, the co-owners have invested $62,000 to meet working capital requirements.
This concludes the executive summary example based on the fictional company Pet Grandma Inc.