You will also provide a quick overview of your legal structure, location, and history if you’re already up and running. Because once you know the details of your business inside and out, you will be better prepared to write your executive summary.After all, this section is a summary of everything else you’re going to write about.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.
Investors look for great teams in addition to great ideas.
Use this chapter to describe your current team and who you need to hire.
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.
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.
Your solution is the product or service that you plan on offering to your customers. How exactly does it solve the problem that your customers have?
Depending on the type of business you are starting and the type of plan you are writing, you may not need to go into too much detail here.
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.