How do you write an executive summary for a business plan?
A business plan executive summary must be written in a way that gives the reader all the necessary information about your business. It must be concise, to the point, and should cover every aspect of your business.
A business plan executive summary should include the following:
- An introduction to your business.
- Information about your product/service and its unique selling proposition.
- The problem your product is solving.
- The financial viability of your business and funding needs.
- The target market.
If you’re presenting your business plan, then it goes without saying that the stakes are going to be high. The success of your product pitch is hinged on your executive summary. Investors are pitched thousands of products every day and mostly rely on executive summaries to judge and assess a business. To ensure that your executive summary slide is up to the mark, you can use our executive summary PowerPoint templates and other business plan templates.
How do you write a business plan for a startup?
A business plan is a detailed description of every aspect of your business. It includes everything from the type of product/service you are launching to the financial viability of your business. The following points must be kept in mind while framing a business plan.
- Include an Executive Summary - An executive summary will help the reader understand what your business is about. It should be concise, to the point, and should never beat around the bush. Try to explain every aspect of your business in the shortest time possible. Mention what makes your business different from other businesses in the field, and what problem is it going to solve. Explain how it will generate value for the customer.
If you’re looking for some great executive summary templates, you can browse through our extensive collection of executive summary PowerPoint templates. To get started, you can also download our free executive summary template.
- Include a General Company Description - Mention how your business operates and how it will interact with its stakeholders i.e employees, suppliers, customers, and investors. Your company description should follow this sequence:
- Vision and mission of your business.
- Company goals and objectives.
- Strengths of your business.
- A brief explanation of your marketing plan i.e your target audience, 4Ps, Demographic segmentation of your audience, etc.
- Introduction to your industry. Mention how you plan to grow in your industry and what kind of growth prospects do you see in the future.
- A detailed explanation of your product/service - Give a detailed account of the type of product/service you’re planning to offer. Describe how competitive it would be and how you plan to fight competition. Mention the unique selling proposition of your product.
- Marketing Plan - Explain the results of your market research and mention why you chose this particular market. Describe your product from the customer’s point of view. Explain why you chose to target said set of customers and why do they need your product. Outline your marketing strategy i.e 4Ps, customer segmentation, pricing strategies, initial offers/pricing cuts (if any), distribution plans, etc.
- Operational Plan - Give a detailed account of a normal day of business i.e, its location, equipment, people, processes, and the surrounding environment.
- Financial Plan - Mention a 12-month profit and loss projection, projected cash flow, opening day balance sheet, and break-even analysis.
If you’re looking for some aesthetic and pre-designed business plan templates, then we recommend going through our collection of business plan templates that will help you pitch your product effectively.