Images Of Business Plans

Ideally, your executive summary will be one to two pages at most, designed to be a quick read that sparks interest and makes your investors feel eager to hear more.

Ideally, your executive summary will be one to two pages at most, designed to be a quick read that sparks interest and makes your investors feel eager to hear more.If you’re a shoe company, you aren’t targeting “everyone” just because everyone has feet.If you can’t pinpoint a problem that your potential customers have, then you might not have a viable business concept.

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Often times, you may be dealing with “indirect competition,” which is when consumers solve their problem with an entirely different kind of solution.

For example, when Henry Ford was first marketing his cars, there was very little direct competition from other car manufacturers—there weren’t any other cars.

Because your executive summary is such a critical component of your business plan, you’ll want to make sure that it’s as clear and concise as possible.

Cover the key highlights of your business, but don’t into too much detail.

You can skip the executive summary (or greatly reduce it in scope) if you are writing an internal business plan that’s purely a strategic guide for your company.

In that case, you can dispense with details about the management team, funding requirements, and traction, and instead treat the executive summary as an overview of the strategic direction of the company, to ensure that all team members are on the same page.

There are four main chapters in a business plan—opportunity, execution, company overview, and financial plan.

The opportunity chapter of your business plan is where the real meat of your plan lives—it includes information about the problem that you’re solving, your solution, who you plan to sell to, and how your product or service fits into the existing competitive landscape. Maybe the existing solutions to your customer’s problem are very expensive or cumbersome.

The last key element of an executive summary that investors will want to see is the progress that you’ve made so far and future milestones that you intend to hit.

If you can show that your potential customers are already interested in—or perhaps already buying—your product or service, this is great to highlight.