Write Your Executive Summary
The purpose of the Executive Summary is to provide the reader with a brief introduction to you, your business, your plan, and your request. This Element will highlight the important points contained in the business plan. If the Executive Summary is poorly written, the reader may not read the remainder of the business plan.
The Executive Summary is usually the first Element your reader will read, and it is the last Element you will write. It consists mainly of small segments copied or adapted from the main body of your business plan. However, if you wrote your Business Vision (see Step 9), and if it is still relatively accurate, you may have already completed the bulk of your Executive Summary.
If your concept has changed significantly from when you wrote the Business Vision, you may find it easier to use the following process to pull together your Executive Summary. Either way, the following table shows the Elements of your Executive Summary and which Elements of your business plan to copy or adapt them from.
View a business plan example: Executive Summary
Action
If you have set up a working copy of your business plan using the Shell™, this information will be entered in your business plan under the heading “Executive Summary.”
Download the Executive Summary Worksheet.
The following subsection provides a list of the key topics and a process for creating your Executive Summary.
Process for Creating Your Executive Summary
- Identity Statement. Copy your Identity Statement from Step 31.
- Mission Statement. Copy your Mission Statement from Step 31.
- Vision Statement. Copy your Vision Statement from Step 31.
- Brief Description of Products and Services. Copy or summarize the Description of Products and Services from Step 32. Keep it succinct.
- Trends and Gap. Reread The Industry Element, developed in Step 33. From it, summarize Industry trends and the niche that your business will serve.
- Objectives. Summarize the three most important objectives from the Strategic Plan and Goals Element, developed in Step 35.
- Customers. Write a summary description of your customers from the Profile of Customers Element developed in Step 38.
- Competition and Advantages. Create a succinct paragraph that describes your competitors overall and explains why customers will buy from your business. This comes from the Competition and Differentiation Element created in Step 39.
- Qualifications. From your The Owner Element developed in Step 34, create one brief paragraph about each owner. Explain why the owner is qualified to make this business a success.
- Financial Request or Requirements. If applicable, review the Financial Section of your Business Plan and briefly explain how much funding you are seeking.
- Security. If applicable, describe what you are prepared to offer the lender for security on your loan.