Individual Assignment: Develop Executive Summary
This is intended as an opportunity for all of the new business partners to separately review the entire business plan and write their best thinking, descriiption proposal of your new venture and opening sales pitch to potential investors. After you write your individual Executive Summaries, I encourage you to share them with your team members to discuss as you work to prepare your presentation and complete edits on the final business plan.
Executive Summary
The Executive Summary of a Business Plan is a two to five page distillation of your entire plan, and is the last section to be written as you complete your business plan and do final edits. A first-time reader should be able to read the Summary by itself, and know what your new business is all about. The Summary should stand-alone and is often sent first, separate from the rest of the plan and the key to success (or not) in getting the next meeting.
Executive Summary checklist:
Begin with a clear, compelling Business Descriiption & Vision, including the Business name. What products and services the business will be selling. What Do you Do and What Do you sell? Clearly describe the new business?
Capture the essence of your business, brand, product, retail opportunity? Present the Market Opportunity and Strategy – sell the market potential!
Sell the distinctive elements of the business, the unique competitiveness and strategy for success?
Excite the reader about the industry, market potential and future opportunity?
Is the Summary clear and exciting? Does it make the reader want to continue reading, explore this new business opportunity and meet the entrepreneurs to learn more details?
Brief descriiption of your Target Market and the Industry you are entering
Competitive Advantages, distinctive market advantages, your unique road to success
Business Model Overview – How will you generate revenue, short term and long term goals, including Projected Sales, Profitability and market share potential
Communicate the first year goals and future dreams for the business?
Introduce (briefly) the Founding team – their credentials and passion for this venture.
Have you included the most important strategies, plans, data from the main sections of the plan (Company, Product & Services, Industry & Market Analysis, Marketing Strategy, Operations, Management Team, Financial Goals and request for investment capital)?
The Offering, request for money or investors – close with the request for funds or potential investors in your new company.
Be sure to also review the Executive Summary information included in the Business Plan Handout provided in the first week of class.
Looking forward to reading everyone’s Executive Summary,
Sample Executive Summaries – check out the attached examples, they are intended as a guide for Professional format and inspiration, do NOT copy, every New Business is unique, the executive summary needs to reflect the innovative, creative opportunity of you and your new business.
