How to Write an Executive Summary for Business Plan in 2024?

Depending on the phase of your business, different elements are expected in an executive summary.For an established business, the mission statement, growth highlights, product or service descriptions, financial information and goals for the future are common areas discussed.For a new business just getting Having started, there will be less information in this section.

For a startup business, it is important to focus on the market analysis that motivated the owners to start the business and the background and expertise the management team brings to the business. You need to highlight the points that you think will engross the mass people. Do not over complicate your summary. Like many things in the business world,  simplicity is the key to regarding this as well.

Therefore, be sure to make your executive summary short, properly organized and informative. If need be, write the executive summary at the very last after finishing writing every other necessary document about your business. In the executive summary you need to write short information about 10 key elements for running your business  successfully.

1. Introduction or overview about your business. Include short information about you, about your company, and contact information.
2. Write about company direction.
3. Short information about management team.
4. Key highlights of product service strategy?Describe the market need or problem for which your business has a solution.
5. Give idea of production and delivery.
6. Who is your target market?Describe the specific  overview of your competition and how your products or services differ from theirs.
7. Goals and objectives.
8. Competition.
9. Finances. Be very specific and clear on the amount of funding that you are asking for.You should explain the purpose of the investment and where that money will end up being spent.
10. Keys to success.You can include anything that you believe makes your business distinguishable  from others.

You only need to add the sections that are needed and useful for your summary. If your business is a service business, you may not need to add the part about production and delivery, because that section is intended for an actual product and not a service type of business.  Do not include information not discussed elsewhere in the document. If you google search executive summary content, you will get a wide range of different suggestions on what you should put into this document.

The executive summary will not contain any technical language, highlighting the most important components of the business  and how you plan to make it succeed. Basically, if your reader does not wish to go over every detail of the entire plan at that particular time, they will be able to read the executive summary and still have a good grasp of your venture. And keep your executive summary as  concise as possible to a single page if that’s doable. It’s a good exercise for you too. If you can’t describe what your business does in a couple of sentences then you might need to go back and define exactly what it is you offer and why it’s valuable.

Do your research. A poorly organized, poorly written executive summary will not impress potential investors. The time invested in your research and the effort required is immense and should be represented in a document that is professional in content and appearance.

There is a very standard outline for business plans and it should be adhered to. It is a proven document, and it is what the people you are courting expect. They know where to look to find the particular bit of information that is important to them. And what each investor finds important will be different.  that is why you must present your plan to many people and organizations. You must be prepared to make a presentation before very influential people in your community. If you have partners, they must be ready for the same. A united, informed, prepared front is a great selling point. The executive summary should be located at the front of your business plan but  it is best to write it after you have written the rest of the plan first. When all the research is done and you have thought about every little detail of the past present and future of your venture .The executive summery will be much easier to write.

Avoid 10 mistake when writing executive summery.

1.  Failing to show what’s in it for them.
2. Writing unrealistic assumption.
3. Focusing on what instead of why.
4. Don’t raise question that your business plan doesn’t answer.
5. You claim there’s no risk involved in your new venture.
6. Making unsubstantiated claims.
7. The executive summary presentation is  sloppy.
8. Not using points, headings, and graphics.
9. Don’t dive too deeply into the nitty-gritty of your proprietary technology. 
10. Failing to prove that you’re the customer’s best alternative.

Many people often make the mistake of putting too much information into their executive summary, especially when it comes to developing  a skilled business plan. If you are writing a full business plan for your company, then you should have your executive summary when the approximately one page to three pages in length and should serve as a guide as how to view the rest of your business plan.

Executive summaries are not simple to write. They require a degree of  creativity and a strong capacity to synthesize. To make sure you have got it write, ask a friend or professional one to read your summary and tell you if it provides a clear overview and compels the reader to want to learn more. In next video we are going to share how to write a company description in your business  plan.Thanks for reading this article.