Writing an executive summary for your business plan is like giving a synopsis and allowing the reader to get a sneak preview into how your company/business works. From the name, this section actively summarizes what is in the entire business plan in just about 2 to 5 pages. You should aim to capture your reader’s attention. Since this is the first section of your business plan, it is here that is a make or break. Make it sell!
What is the format of a good executive summary?
Before you start, understand that there is no set rule as to how to write an executive summary. Different companies employ different strategies for writing.
To cover your entire business plan in the most succinct way possible, here are some pointers on what you should focus on as you write;
- Introduction – Begin by briefly introducing the report by stating its main purpose and key recommendations.
- The mission of the Business
- Its unique selling propositions
- Your projections for the future (sales, costs and profits)
- Your business needs, i.e., inventory, land, building equipment, working capital, and other resources.
- Procedures and timetable for repaying investors
- The capital you are requesting
NOTE: Since this is a summary of the entire plan, it’s only logical to write it after you are done crafting the rest of the business plan. It will be a lot easier to summarize what exists than otherwise.
Notes on the Mission Statement
It’s important to keep your mission statement as brief as possible. Here is an example:
To Provide customers with high-quality steel metal rails where we can be proud of our professional craftsmanship of each product sold to the end-user, and offer exceptional customer service throughout the warranty phases of the product, as we keep client satisfaction a priority.Mission Statement Sample
You don’t have to use jargon to make it look professional. All you have to do is assure your reader that your business aims at a logical greater good.
In conclusion, crafting a compelling executive summary is essential to the success of any business plan. By taking the time to craft a clear, concise, and engaging summary, you can capture the reader’s interest and demonstrate that your business is worth their time and attention. So be sure to put your best foot forward when crafting your executive summary, and you’ll be well on your way to success.