Executive Summary Essay

1647 Words Dec 1st, 2002 7 Pages
The executive summary is arguably the most important section of the business plan. It must be concise, specific, and well-written. It summarizes the highlights of the completed business plan and provides a brief snapshot of the plan, with sales, spending, and profit summary figures. The summary emphasizes those factors that will make the business a success. It must contain sound numbers for market size, trends, company goals, spending, return on investment, capital expenditures, and funding required.

For new businesses or businesses seeking funding, credibility and excitement are key elements of the executive summary. Venture capitalists receive hundreds of plans each month, and just a few are actually being read from cover to
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You may have to set the stage a little bit to make sure that a reader understands exactly what your product or service is.

The starting point is a clear and simple statement of what the product is or what service your business will provide. Avoid the temptation to compare your offering to similar services or products offered by others. Reserve that analysis for the marketing plan, where you will discuss competitors and potential competitors.

Instead, focus on those factors that make your offering unique and preferable to customers. Explain what it does, how it works, how long it lasts, what options are available, etc. Of particular importance is whether you are selling a stand alone product (e.g., lunch) or a product that must be used with other products (e.g., computer software or peripheral devices). Be sure to describe the requirements for any associated products (especially vital for software). And, if there are special requirements for successful use or sale, say so.

Another issue to consider is whether you hope to sell items on a one-time or infrequent basis or whether repeat sales are the goal. If you're opening a bakery or restaurant, you're going to count on the same customers returning on a regular basis. But a heating contractor installing a new furnace or a consultant helping to implement a new order processing system probably isn't going to do that for the same client again any time

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