Find-out how to write executive summary in one day:
After deciding that you want to obtain financial investment for your start-up from a venture capital firm or an angel investor, you should consider writing a business plan which you will send them in order to get their attention on your business idea. The most important thing your business plan should demonstrate when investors just take a look on it is discipline. If you want to start your own business and you think that you can manage it well, you should firstly prove that you are as organized as to write a sharp, interesting and effective business plan.
In order to achieve this, you should organize your ideas and vision statements in an executive summary of your business plan. Thus, you should write it by taking into consideration the following executive summary:
1. Introduction/Overview – this is the part where you present and name your business, its characteristics and its specific elements;
2. Company – this field should state the actual development stage of your business and your intentions for the company, including the idea
for which you need external funding. Please note that this idea has to respect the following characteristics: it has to be able to bring huge amounts of money in a short period of time;
3. Direction – this is where you say a few words about yourself, you degree of expertise in the domain you want to obtain funding, your previous accomplishments, your qualities and your flaws in running a business which determine you to consider yourself as one of the managers or which prevent you from directly managing your business;
4. Management Team – this is where you should name the persons in your management team along with their education, awards, previous work experiences and accomplishments, their degree of qualification for the job they will perform and the ways in which you can provide continuous training in order to always maintain a high degree of performance in your team;
5. Production and Delivery – this related to the more technical issues in developing your business, meaning that you have to state which are the technologies you will use in order to make your business idea become a reality. You should also state figures, establish milestones of completeness and analyze the demands of the market for your product in this section;
6. Target Market – this section refers to the demographic characteristics of the persons your product addresses to. Please note that this chapter also has a subsection called Competitive Position in which you should say which are the other producers you have to compete with. You should note that, even if may look so, no project can say that it has no competitors, even though it refers to a totally new product. Competition is also present on the market, even if its degree of development is lower than the one you provide;
7. Goals and Objectives – this refers to the plans you have for your business that will apply from the beginning for a timeframe of at least five years. The goals describe the ultimate reasons because of which you are starting-up this company and the elements that can help your team reach the amount of sales you estimated in order to make your business profitable. The objectives define the means you should use in order to reach those goals;
8. Finances – this refers to the budget you need to initiate your business and to be able to maintain it at a continuous growing level. Here you should state the amount of initial capital you can dispose of and the amount you need from the investor. You should also estimate the timeframe in which you will be able to cover for your investments and to obtain profit.
The best solution in the case you don’t have experience in writing business plans is to purchase a business plan template that can show you step-by-step what you are supposed to do.