Starting your own business involves many steps like creating a website, marketing products and services, and obtaining funding.
This article will provide an overview of the concept and guide you through the steps required to write an executive summary to help your company get off to a good start.
What’s an executive summary?
A business summary is a concise overview of your company. It includes your business model, market, competition, and financial projections.
This is the most crucial part of a business planning document. This document can be used independently, but it must be convincing enough to get people to read your other business plans. It can be used to raise funds, create partnerships, launch new products/services, or any other requests.
It is a good idea that you start writing your entire business plan or business proposal first. Next, you can return to your executive summaries. This will allow you to identify the key points and address them briefly in your executive summary.
How do you write an executive summary?
When writing your executive summary, keep these two things in mind: succinctness AND professional language. These are the keys to making an impression and presenting your work well. This will ensure that you make a lasting impression by addressing the right audience with the correct solution.
These are some tips to help you write an executive summary.
- Begin with your table.
- Describe your goal
- Give us a quick overview of your company
- Research the market and other competition
- You should write your key financial information.
- Send us your request
- Polish your work
1. Begin with your table.
Although the executive summary should not exceed 1-2 pages, you must distinguish between the different categories. It should not exceed 2 pages.
You have a lot of options to consider in how you want to organize your information. We will be discussing this in the next section. Order your topics according to importance.
2. Describe your goal
The purpose of your plan is to solve a problem. First, describe the problem. Next, list the milestones you wish to reach along your journey.
Keep in mind who is reading your executive summary.
3. Give a brief overview of your company
It is important to ensure that your information is relevant to your audience. You can tailor the rest to meet your goals.
A brief description of your life and activities is a good idea. A brief description of your company culture is also helpful.
Give a brief overview of the business structure. Also, list your investors and partners. Discuss whether you plan to expand or move anytime soon. Give a summary of the products and services that you offer and a detailed overview of your production and sales processes.
Address the contact information of the reader so that they can reach you.
4. Research the market and other potential competitors
This section will provide details about your target market and industry.
The main goal is to increase your competitive advantage and highlight other strengths that make you, your business, or your model stand out.
Discuss your plans to increase your customer base, your ROI, and other goals that you plan to use in your Marketing efforts.
5. You should write your key financial data.
Executive summaries are often focused on financing business owners. You must include financial information. You don’t have to include all of your financial data.
6. Send us your request
This document was created to draw attention to a particular person. You want your closing to be positive, no matter if you are looking for partnership or capital raising.
Start by summarizing your findings in a few sentences. If you ask for specific amounts, you will need to explain why you are asking.
Investors need to have a reason to back their business.
7. Polish your work
Reread your work. It is possible to reduce the length of sentences and avoid using jargon or acronyms that can confuse them.
After you are satisfied with the final draft, have a friend or colleague review it. You will impress your readers and ensure your work is professional.
