In Part 2 of our 8-Part Guide to Writing a Business Plan we look at The Objectives and Executive Summary.
Both the ‘Objectives’ and ‘Executive Summary’ sections provide an overview of the entire business plan.
This section explains why you are creating this business plan and what it is, in brief, that you intend to do.
It could be for different reasons: To look for investors for a new project, to launch a new line of products, to market the company, or to create a new business unit.
- Do not elaborate at all, get to the point and be brief, each sentence is important. If a sentence does not hold important information, delete it.
2. Executive Summary
Here you will give a review of the whole plan, you will define the market, the product or service, your competitive advantage over the competition, the investment required and the predicted results over a given period of time.
This section is very important if you require investment to execute the plan. It allows both your executives and any potential external investors to understand the entire plan in a few paragraphs.
More importantly, it also permits the executive or investor to quickly see if the project demands more attention without having to read the entire plan.
The summary should be simple and well written with only the essential information included. It should be clear to the reader in the proposal what the possibilities of success are.
- Write with a positive and authoritative tone, do not use if’s, do not write ‘we could’, write ‘we will’.
- The reader should have a clear idea of your business plan just by reading this page.
Go to the Guide to Writing a Business Plan Index