Why Is an Executive Summary for Business Plan Important?
Creating an executive summary for a business plan is one of the most critical parts in business planning. The executive summary contains the current status of the business and its future plans. Laying down the details of the plan briefly is not as easy as summarizing an essay or any paper works. An executive summary for business plan is an advertising script in itself. How well-written the strength of the plan is, and how realistic the path it states it is taking, provides a conviction for investors to take part of that plan. Selling a business plan relies on the choice of words that lay the groundwork of the business in the minds of the potential investors. How strong the effect of the words are, is also the same strong conviction it establishes for itself. No business plan can grab an attention from a potential investor with just a clumsy executive summary. It should by all means highlight the over-all plan’s potential to succeed.
Guidelines in Writing an Executive Summary Business Plans
- Read comprehensively the mission/vision of the business and the important factors affecting it. Develop a holistic understanding of these factors.
- Use specific words. Highlighting the strength of the over-all plan is the foremost priority of a business plan, so make sure every word must count. Omit flowery words by presenting what is definitely going to happen in implementing the plan.
- Keep it short and concise. There is nothing more the potential investors need than a realistic, attainable, and measurable plan.
- Convey strong decisions why you think the plan should work by using positive scripting.
- The executive summary for a business plan must integrate a strong market analysis that the company itself conducted proving the strength of the plan.
- If financing is your top priority, include growth highlight and other financial information in your summary.
- A good executive summary for business plans must display no hesitation. Otherwise, the investors reading it mirrors the same feeling of hesitation and consider the business plan not too attractive.
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