The one or two page executive summary is the most important part of your business plan because it offers an overview and briefly summarizes the overall plan for your business. According to Joanne Cleaver, the executive summary “highlights the market need and market opportunity and how you plan to take advantage of that opportunity” (64). It’s the first impression when potential financial backers ask to see what you’re about in writing.
Even though it is the opening pages of your business plan, you should write it last so that you can include a strong summary of your overall plan.
For established businesses include the following:
- Mission Statement
- Company Information
- Growth Highlights
- Your Products/Services
- Financial Information
- Summary of Future Plans
New businesses should focus on experience, background, and a thorough understanding of your place in the market, along with projections for your growth potential.
Resources:
Cleaver, Joanne. Starting a Business: An Easy, Smart Guide to Starting Your Own Business. Barnes and Noble Books: New York (2003).
Pinson, Linda. “Anatomy of a Business Plan: The Step-by-Step Guide to Building Your Business and Securing Your Company’s Future,” 7th Edition. Out of Your Mind . .. and Into the Marketplace, California (2008).
SBA.gov – “Create Your Business Plan: Executive Summary” – http://www.sba.gov/content/business-plan-executive-summary