{Photo by Wowzzaa. Your business is all about balance.}
The last and final piece to complete the Business Plan Challenge is the Executive Summary. The Executive Summary is the last part of the Business Plan you will write, but is the very first part of the Plan that is read. It is similar to an introduction and gives an overview of the business concept and Business Plan.
Some Executive Summary pointers:
- Only one page in length
- Focus on the highlights and should attract attention to your business idea
- Be positive, don't give the reader any reason to question your idea
- Be creative
- Consider opening with a thought provoking question or statistic
Your Executive Summary must:
- Be clear about the name of your business, and what it does
- Highlight your market research and your business' competitive advantages
- Describe the skills and experience the owner has that adds to business' success
- Use Financial Projections. Describe sales and profits for first and second year
- Describe how much funding is required and the financing source
As you can see, with only one page to cover all this information, each topic must be addressed succinctly and only the most important information included.
There you have it! From here, you have all the information you need to write a Business Plan! If you've been working along with us, you are very close to completing your plan! Congrats!
Next time we'll answer any of your questions and discuss putting your plan all together.
Lili Nedved and Henry Sinha are opening a brick and mortar retail store
in Vancouver, Canada. With lots experience staying up late and working
on Lili’s handbag business, iglubu,
Henry was recently promoted from an Electrical Engineer to Director of
Fabric Organization. Lili hopes her Finance degree will give her the
edge in the competition for Employee of the Month.
